How To Renovate Your Rental While Tenants Still Live There
May 22, 2023
As a property owner, especially a property owner who rents out that space, it’s important to maintain that asset as well as you can. The better the property is condition, the more the rent can be, and the happier your tenants will be living there. That said, it’s true to say that asking someone to leave (with proper notice) so you can renovate and then appeal to new tenants is hardly a good way forward. Not only does this create turmoil in the life of your tenant, but it can steal a good few months of income while you resolve the property condition.
So, if you’re doing this for aesthetic purposes and not just to render the property habitable again, it’s good to discuss how to renovate while you’re tenant still lives there. Give some worthwhile provisions and plan ahead. This can be quite simple and effective, and with a rental property remodeling service you can make sure every step is properly telegraphed ahead of time.
If your tenant is okay with this, you might consider the following timeline:
Arrange A Living Agreement, Including Rent
It’s important to make this period of renovation and their remaining tenancy agreed to in writing, in case they try to suggest your work was a sudden forced change. This way, you protect both parties. You may even work out a mutually beneficial contract where, provided the property remains habitable, you’re willing to reduce the rent and other service charges when this work is being completed. This helps you retain a client while also ensuring they don’t feel taken advantage of.
Make The Work Process & Dates To Achieve That Clear
It’s important to update the tenant with any information you have about work to be conducted and when, what provisions this might limit, and how long the overall budgeted timeline is. This way, they can vacate the flat for a weekend if you need to knock through a wall, or perhaps move furniture to one side of a room if you’re implementing a new appliance.
Of course, adequate notice and rental discounts can help you work with them here, providing the best of both worlds, without a need for artificially lapsing the tenancy.
Make Certain The Space Is Still Habitable
Of course, this space needs to be habitable if your tenant is going to live there while under renovation. It might be that you focus on rental property remodeling room by room so that when one functionality isn’t available, another is.
A clean place to sleep, adequate restroom and washing facilities, and a place to cook food and do laundry (the latter can be outsourced to local businesses, and you may work out a deal with your tenant to reduce rent for the inconvenience, or simply relocate the washing machine in this case), will all make a difference. If they can live there comfortably and hygienically, record and prove that in accordance with your local housing laws.
With this advice, you’re sure to renovate while your rental tenants are still living there, with a mutually-consenting approach.