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Which Amenities Should You Provide for Your Coppell Tenants?

Mother and Daughter Watching Cable TV in Their Coppell Rental HomeSome single-family rental property owners see the benefit of offering certain amenities to their tenants. There are a good number of Coppell property owners who are thinking about including amenities such as internet and cable television service as well as utilities like water, sewer, and even electricity in the cost of the rent. And doing so, as is in many cases, does a lot to make a rental home more competitive, but not only that, it can help attract tenants also. On the other hand, some renters don’t really want the amenities offered. This means you losing out on potential applicants. This only goes to show that it is important to know your target demographic. When you understand them and know which amenities your local market would go for, then you will be able to choose the best options for your rental homes.

In some markets, it’s standard practice to offer amenities, but in others, it will give your rental home a competitive edge. It may also allow you to charge a higher rent. If your neighborhood has a lot of young professionals or retirees who rent, there may be strong demand for “all-inclusive rentals,” or properties that offer not just a house, but additional services as well. Adding cable and internet services as well as utilities may be just what they’re in the market for. Especially if you plan to rent a property to multiple people, providing such amenities can eliminate conflict since they no longer have to deal with the issue. For situations like that, you can easily raise the rental rate to cover the costs of each amenity, and tenants like these would gladly pay the higher rate.

However, providing amenities like cable, internet, and utilities in some markets just wouldn’t make sense. You wouldn’t profit with this strategy when renting to some demographics. Even with the increasing popularity of internet service and cable television, some renters just don’t need or want it. You’d be driving tenants away if you ask them to pay more for a service they don’t want.

Many renters want to have the freedom to choose for themselves whether they pay for these types of amenities. They also want to be the one to choose their own service providers. It’s the same thing for utilities. In places with more than one option for utility service, the tenants may prefer to set up and manage their own services with the provider of their choice. By doing this, you hand control over to the tenants. They get to choose how much they pay for those utilities rather than be forced to pay a fixed sum that’s included in their monthly rent.

There are both advantages and disadvantages to property owners themselves. Setting up cable, internet, and utilities in your name give you more control over the services available or installed on your property. If the property owner lets the tenant choose their provider, they may have to deal with abandoned satellite dishes or other paraphernalia when the tenant leaves. But if the choice is kept, then you can make sure that utility or other amenities are not creating an eyesore or damaging their valuable property. If you pay all the utilities, it can help reduce your tax liability because you get a larger tax deduction on your income tax return.

However, irresponsible tenants may run up a utility bill, figuring they won’t be paying for the extra charges anyway. Additionally, signing up for internet and cable service typically involves some up-front costs, which a landlord may have difficulty recouping through higher rent. Since you’re the account holder, you’ll have to deal with the expenses no matter whether your property is leased or not. You’ll need to make sure the bill is paid each month.  In all these cases, there can be a significant impact on the owner’s cash flows, at least in the short term.

After studying the pros and cons of offering cable, internet, and utility services, you can confidently make your decision. Remember that different rental homes may be in different situations, which means you won’t find an answer that would fit every home. But with good information, you can be sure that you’re making the most profitable decision.

Why not consult the expert in the industry? Speak with a professional Coppell property manager today. At Real Property Management Legend, we make it our business to help you succeed in the real estate investment game without all the hassle. Don’t hesitate to contact us online or call us at 214-227-2404.

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