Extra Services You Can Provide Your Tenants To Up The Rent
As a landlord, it’s just as important to make sure that your rental properties can remain financially feasible, as well as to perform the duties that you’re obligated to provide. As such, finding the means to increase the rent without sending the tenants packing can be very worthwhile, and sometimes, it’s a lot easier to justify it when you’re able to offer services that benefit them besides it. Here, we’re going to look at some of the services landlords can charge for, as well as those you can’t.
Communal And Shared Space Upkeep
If your property includes a lot of communal areas or outdoor grounds, then keeping them cleaned, well-maintained, and aesthetically pleasing can do a lot to make tenants feel more at ease in their properties. For instance, you can offer a regular cleaning service, whether it’s to keep hallways, staircases, and shared entrances hygienic and presentable, or you’re providing grounds maintenance like lawn care, hedge trimming, seasonal planting, and waste removal. People do tend to care about the impression made by the place that they look, and offering it as a premium service can justify charging a slightly higher rate of rent than other similar properties in your area while keeping tenants satisfied.
Dedicated Parking Solutions
Your tenants should understand that parking is a premium feature, especially if they want dedicated access in busy towns or cities where space might be limited. Offering your tenants secure and well-managed parking through allocated bays, visitor parking, and managed systems with the help of residential car park management services can make your property a lot more efficient and attractive to tenants, especially those like professionals who might need ready, reliable access to quick parking. Many renters are willing to pay extra to reduce their stress, and offering parking as a structured and secure service can help you justify higher rental prices.
What You Can’t Charge Extra For
It’s important to note that even when it comes to the extra services you might want to provide, you still have to keep within the legal boundaries and your responsibilities as a landlord. You can’t charge your tenants for any upkeep or repairs that you are already obligated to provide, for instance. Nor can you charge tenants extra for access to utilities, even if you invested money to have them upgraded or installed in the first place. You also cannot charge for any referencing or credit checks, inventory checks, viewing fees, or the like. The rules of being a landlord are always subject to change, so it’s important to stay up to date and make sure that you’re not putting yourself in a potentially compromised position, legally speaking. It’s also important that any extra services you intend to charge for are covered in the tenancy agreement.
Always bear in mind that you can increase the rent annually to keep up with inflation and the market. However, if you want to keep your tenants while doing it, you should consider what you can do for them at the same time.
