Offering incentives like “free” cable has long been one popular strategy that property owners commonly use to bill tenants higher rent. And for a very long time, tenants eagerly paid the extra cost. Yet public demand for cable TV is rapidly changing, steering some property owners to reflect if it might be time to cut the cord on their rental home’s cable TV.
Since 2012, over 10 million people have canceled their cable subscriptions in favor of new, lower-priced streaming services such as Netflix and Hulu. For these people, many of whom are considered tenants, “free” cable simply doesn’t hold the appeal that it once did. But for some, cable TV still resembles a required segment of a comfortable dwelling. Hence, before you conclude to cut your Lake Worth rental property’s cable TV, it is paramount to review all the pros and cons of doing so, along with talking to your tenants about their needs and expectations.
Including cable TV in your rental rate seems sensible for many places and demographics. For instance, if your potential tenants are comprised of avid sports fans, they may want live television services and will happily agree and pay a bit more rent to have it added.
Numerous tenants hate signing up for cable services that will lock them into long-term contracts since they may not anticipate the length of time they are going to live there. They might even detest the hassle of contacting customer service every time something goes wrong. For these tenants, a rental home that provides cable TV gives a good reward to spend a little extra to avoid any nuisance.
Alternatively, younger renters may or may not find an offer of “free” cable to be worth the higher rent. Streaming services are becoming the go-to choice for several people who find cable TV is lacking in viewing options. While streaming services do charge more money, several young individuals will share a subscription or sign up selectively to save money. For these people, streaming services provide the convenience to determine when to sign up or cancel if they refuse to.
For Lake Worth property owners, there are reliable advantages when including cable TV as part of the rent. For instance, internet providers will often bundle both internet service and cable TV, lowering the cost of both. For some localities and demographics, being able to supply internet service and cable TV may give property landlords a competitive edge. The quickest technique to determine for sure if granting cable TV is right for your situation is to ask your tenants, either current or prospective. They can instruct you better than anyone what the forecasts are and how tenants may react when including “free” cable TV.
If you’ve conferred with your tenants and they reject cable TV, it may be possible to temporarily discontinue your cable service while leaving the cables intact. It would, of course, depend on the service provider. You may be able to suspend or even cancel service easily, saving you the charge of paying for it every month. You could then determine to offer a slightly lower rent or, if you decide, pocket the savings.
Identifying if keeping your cable TV service is the right move for your rental properties can take up time, and for rental property owners, time is money. Real Property Management Sunstate can assist you to evaluate cost savings aspects, communicate effectively with your tenants, and more. Contact us online or call us directly at 877-373-8404 today.
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