As a landlord, you may come upon a difficult situation when your tenants ask to install a hot tub on your rental property. Notwithstanding that it can contribute to fantastic tenant satisfaction and cost savings, hot tub installation has possible risks. If the hot tub malfunctions or sets off damage to the property, you may be left with costly repairs and legal disputes. Besides, poor tenant maintenance can induce hygiene concerns or safety hazards.
That being so, before making the decision, it’s integral to weigh all the potential risks and benefits of allowing your tenants to install a hot tub. Contemplate consulting with legal or insurance professionals to always make certain you are unharmed and protected in case of any issues.
For property owners, deciding if tenants can have a hot tub actually depends on a bunch of factors. There are salient reasons for allowing or not allowing it. Here are some solid considerations for each option:
Reasons to Allow Tenants to Have a Hot Tub:
- Attracting and Retaining Tenants: Offering amenities, for illustration, a sauna bath can make your property more appealing to potential tenants, enabling you to charge higher rent and retain tenants for considerably long periods of time.
- Increased Property Value: Installing a hot tub can grow the overall value of your property, which can be favorable if you plan to sell in the future.
- Competitive Advantage: In a number of rental markets, possessing a hot tub can give your property a competitive edge over others, helping it stick out and get rented more quickly.
- Tenant Satisfaction: Tenants who bask in the luxury of a hot tub may be more untroubled with their living arrangements, which could give rise to fewer complaints and happier relationships.
Reasons Not to Allow Tenants to Have a Hot Tub:
- Maintenance and Costs: Hot tubs require regular maintenance, for instance, cleaning, water treatment, and possible repairs. You may need to shell out for these costs or pass them on to your tenants, which could scare away a great deal of renters.
- Liability and Safety Concerns: Hot tubs can mean safety risks. There is a risk of accidents, injuries, or even lawsuits if someone gets hurt. You may need to pay off additional insurance coverage to protect yourself.
- Potential Property Damage: There’s a risk that the sauna bath could damage the property, namely, the deck or plumbing, which may obligate costly repairs.
- Local Regulations: A few local municipalities and homeowners’ associations may have regulations or restrictions on setting up and using hot tubs. It’s necessary to check and abide by any such rules.
- Increased Utility Costs: Hot tubs consume electricity and water, which could cause higher utility bills. Determine carefully whether you or the tenant will cover these costs.
Assume you are contemplating allowing your tenants to have a hot tub on your property. That being so, there are several vital considerations to keep in mind, for instance, ownership, the lease agreement terms, the removal and restoration process, cost responsibilities, and the approval process.
Putting straightforward and clear guidelines and rules in the lease agreement is definitely recommended if you decide to permit hot tub installation. This can incorporate important issues, for example, maintenance and repair, responsibilities, and usage restrictions, which are beneficial to ensure the safety of your tenants and protect your property.
If you’re managing rental properties in Vinton and would need more insight on how to write your lease agreement, the Vinton property managers at Real Property Management Colonial can help. Contact us online or call us at 540-595-7411 today.
Originally Published on July 3, 2020