 Decorating Allowance (by henry [IL]) Aug 1, 2019 5:23 PM
 Decorating Allowance (by AllyM [NJ]) Aug 1, 2019 6:00 PM
Decorating Allowance (by plenty [MO]) Aug 1, 2019 6:49 PM
Decorating Allowance (by Richard [MI]) Aug 1, 2019 7:22 PM
Decorating Allowance (by Robert,OntarioCanada [ON]) Aug 1, 2019 10:47 PM
Decorating Allowance (by David [MI]) Aug 2, 2019 9:10 AM
Decorating Allowance (by LindaJ [NY]) Aug 2, 2019 9:35 AM
Decorating Allowance (by myob [GA]) Aug 2, 2019 10:51 AM
Decorating Allowance (by Oregon Woodsmoke [ID]) Aug 2, 2019 10:57 AM
Decorating Allowance (by Robert J [CA]) Aug 3, 2019 12:40 AM
Decorating Allowance (by Adele [FL]) Aug 3, 2019 12:36 PM
Decorating Allowance (by henry [IL]) Posted on: Aug 1, 2019 5:23 PM
Message:
State Specific Question About: ILLINOIS (IL)
To raise my rent by $2k annually, I am thinking of a decorating allowance around $1k. Anyone have experience doing this?
What about unique ways to raise the rent?
Henry --73.210.xxx.x |
Decorating Allowance (by AllyM [NJ]) Posted on: Aug 1, 2019 6:00 PM
Message:
You would give that to the tenant? That would be a mistake unless they are a professional decorator. IF you want to use that much to improve the unit before renting you could get ceiling fans, new more expensive lighting fixtures, better blinds, offer wash and fold laundry if there is no washer and dryer. They drop off but you pay for their laundry and the wash and fold, dishwasher, bathroom fan, kitchen fan really vented to the outside. --173.61.xxx.xx |
Decorating Allowance (by plenty [MO]) Posted on: Aug 1, 2019 6:49 PM
Message:
What would this decorating allowance do? --99.203.xx.xxx |
Decorating Allowance (by Richard [MI]) Posted on: Aug 1, 2019 7:22 PM
Message:
Nope.
If you want to make the place nicer, get a pro decorator to advise you. Usually the better paint stores have one that will make recommendations.
If you let tenants do it, you'll get purple rooms, and worse. --172.222.xx.x |
Decorating Allowance (by Robert,OntarioCanada [ON]) Posted on: Aug 1, 2019 10:47 PM
Message:
Most areas one gets market rent where separating out all utilities is a expensive upfront one time cost but over time the conversion pays off. Adding a ceiling fan, upgraded bathroom, better secure entrance locks along with nicer appliances and kitchen renovations. With separate utilities rent can be lower as the tenant is controlling the energy consumption. --147.194.xxx.xx |
Decorating Allowance (by David [MI]) Posted on: Aug 2, 2019 9:10 AM
Message:
I just negotiate with tenants on a case-by-case basis. upgrades like blinds, ceiling fans --144.250.xx.xx |
Decorating Allowance (by LindaJ [NY]) Posted on: Aug 2, 2019 9:35 AM
Message:
So if a tenant stays a year, you have only raised the rent $1,000. And what do they get to decorate with this, are you going to have to remove some of it for the next tenant?
I would just upgrade a few things, which I usually do between tenants anyway, and go for the higher rent. You want quality tenants. You don't want to have to entice the lower tenants to take your rental. If they are a good tenant for a year, and you want to entice them to stay, then offer some other upgrades. --108.4.xxx.xx |
Decorating Allowance (by myob [GA]) Posted on: Aug 2, 2019 10:51 AM
Message:
We don't do decorating allowance. We do have fashion allowance.
You can't be serious? Although in high tax and and unfriendly states toward LL's maybe ya gotta do it?
Just appears to me these "plans" are getting more outrageous every month. Maybe clean up the place- inside and out- paint it-- fix all the issues inside and out. Check other rates in your area.
Troll post? Next you'll be giving gift cards, birthday cards, xmas gift, anniversary gift, new baby gift- just married present and next week baby gift, move in gift, move out from old place credit. yada yada yada!!!! --99.103.xxx.xxx |
Decorating Allowance (by Oregon Woodsmoke [ID]) Posted on: Aug 2, 2019 10:57 AM
Message:
Decorating allowance? I don't think so.
Do an upgrade of something between tenants, or perhaps offer one accent wall where the tenant gets to choose the color. But that would be a nuisance to have wet paint as the tenant is moving in.
Do upgrades that add value to the property: tile entry way, patio, quiet ceiling fan, better stove..... --98.146.xxx.xxx |
Decorating Allowance (by Robert J [CA]) Posted on: Aug 3, 2019 12:40 AM
Message:
To keep my long term tenants happy, I have to keep up their unit to match the quality of my re-modeled vacant units that get re-rented at market rates.
Never mind my tenants are under rent control and already pay a reduced rate. The want upgrades.
So I offer one of the following:
a) unit completely repainted
b) carpet replacement with laminate or LVT.
c) a new appliance / upgrade
d) a second air conditioner -- bedroom through the window.
e) new blinds (mini)
One tenant got a complete painting. A few months later she wanted new flooring. Then a few months later she wanted her bathroom remodeled. So I ran her name and found she inherited from a family member and friend something like 250K. I then told her if she buys the new bathroom fixtures, I will install them. No more freebies. --47.156.xx.xx |
Decorating Allowance (by Adele [FL]) Posted on: Aug 3, 2019 12:36 PM
Message:
Improve curb appeal, the outside must look nice to get more rent. Make the inside sparkling clean and paint must be in good shape. Improve exterior lighting and fixtures, fix the walk paths, or install some. You can put nice molding at the ceiling against the walls to give a more posh feel to a room. Update old kitchen cabinets, change a faucet or old toilet , remodel the bathroom, etc. Do everything between tenants. You don’t want to have to supervise their upgrades, or upgrade while someone is there as you or your workers will damage their personal property, or they have a child and you disturb the paint that may have had lead based paint since 1978, then you open up cans of worms. If you don’t have time for the upgrades now, get the best tenants you can now, don’t bribe anyone to move in. --76.242.xx.xxx |
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