Installing Air Conditioner In Rental Property
If you think it's a worthwhile improvement - and it probably is - it may be that the tenant's cashflow is better than yours, and they may be amenable to a proposal as follows:. tenant pays for install, air-con becomes property of landlord. assume it costs $3K, which would be $60pw over a year. air-con attracts extra $20pw in rent.
tenant can pay the $3K for install, and have $40pw lower rent for the remainder of the 1 year lease - effectively you're repaying them for the air-con at a rate of $60pw over a year, and they're paying $20pw extra rent - everybody's happy! You start getting higher rent today, without a large capital outlay.I hear what others say about just asking the tenant to pay for it, and the landlord retaining ownership with no contribution by the landlord. It may be legal, but personally I wouldn't feel comfortable making such a request. I negotiated with a tenant to put in 2 box type a/c's. One second hand (about $180 on Ebay) and the other one brand new (about $700 with extended warranty). I think we negotiated an extra $10 week rent.
So in 2 years both these were paid for. The IP is in a small country town and I wanted the tenants to be comfortable. Both the boxes were reverse cycle.
The new one with an extended warranty.Your a/c plans might be grander. If the tenants are willing to pay more I'd go for it even if you have to buy interest free. Or let them put it in and take some of the earlier suggestions. Tenants request things all the time. I will rarely oblige unless it is something that I wanted done.
I don't know about you, but I bought my properties to benefit me in retirement, not to pander to the whims of the tenant. Anything other than maintenance (mine are all well maintained) cuts my bottome line.I usually tell the tenants that they leased the property 'as is'. The rent they are paying is in line with a property of it's calibre in the area it is situated. Adding extra amenaties make the property worth more in terms of the rent a tenant will need to pay. I will give them the option of having it installed professionally at their cost, if they really want it, with the provison that it remain on the property.Mind you, if there is an existing air-con there that does not work, then that is a different story, and I would get it done. We recently had this issue. The PM told me that the Tenants had rung up and asked for the air-con to be repaired or replaced.
Do Landlords Have To Provide Air Conditioning In Victoria
Mind you, it hasn't worked for three years, but we were unaware of that, and so was the PM. She had a chuckle when the Tenant told her. Apparently the Tenant did not want to bother us, so kept quiet, but she said it was getting a bit hot this year, so she would like it done.
Air Conditioning In Rental Property Nsw
A new one is on the way, as we speak. 14 replies, thanks guys!Great advice, I like the idea of getting them to do it at their expense. Seems a little selfish, but I'm sure we all agree this is 'business' and I should do what's best for me.I'm not a 'mean' landlord, I'd like them to be comfortable and stay there forever if they want. They are good tenants, pay on time, and haven't given me any trouble.They didn't even flinch at the rental increase (they are the first tenant, have finished 12 months, and are in month 1 of their second 12-month lease)They were there all summer last year and didn't say anything, but I suspect they 'know what it's like' in the house so now want air-con.You guys have given great advice, and I am most thankful!For the record, the house was basically brand-new when they moved in so there was no air-con already. Just the house with all-new fittings (oven, stove, etc)Thanks again, I'll post back what happens if people are interested.BTW, I guess this is a rhetorical question but I should tell my PM to tell them my intentions right? I don't need to write a letter or anything and send it to the tenant directly, or would that be a good idea anyway? What do you guys think about that?
(written explanation as to why I can't afford it.so as to appear more 'approachable' to the tenant?).