Fireplace In A Rental Property And Possible Legal Issues.
I am buying a rental property with a fireplace. To avoid future legal problems (if something goes wrong), I would like to make a provision in my rental agreement about using fireplace. Can anyone give an advice? Thanks.
Are you serious? A fireplace doesnt require special leases. Millions of homes with fireplaces...they actually increase rental value and people rarely use them in the south.
You can always buy a decorative cover for the fireplace (which would cut down on energy loss too). Tenants would be less prone to use it then.
What are market rents in the area?
Market rents in the area range from $1500 to $1550. Property is listed at $1425, way below market rates.
Any ideas?
JS.
Newkid,
The property just received a fresh coat of paint throughout as well as new carpet. Granted, I am biased but I believe the property looks fresh and great, not worn at all.
Any ideas on the corporate market?
JS
smithj2-
Did you get it rented? What did it take? Lower the price?