Offering incentives like “free” cable has long been one popular strategy property holders adopt to get a higher rent. And for a long time, tenants eagerly paid the extra cost. Public demand for cable TV is rapidly changing, prompting some property owners to deliberate if it is 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 residents, many of whom are renters, “free” cable simply doesn’t hold the appeal that it used to have. But for others, cable TV is still an important part of their lives. Hence, before you consider cutting your Bonita Springs rental property’s cable TV, it is essential to evaluate all the pros and cons of doing so. Also, consider communicating with your renters about their requests and needs.
Including cable TV in your rental rate seems right for a certain area and population. Specifically, if your chosen tenants are avid sports fans they are more probably to prefer live television services and will consistently spend a moderately higher rent to have it included.
Several renters oppose signing up for cable services that will lock them into long-term contracts considering they may not know how long they will be staying in the residence. They may likewise criticize the nuisance of contacting customer service whenever something breaks down. For these renters, a rental home willing to provide cable TV provides a firm motivation to pay a bit extra to bypass any nuisance.
Meanwhile, 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 many who think cable TV is lacking in viewing options. While streaming services do cost money, many young residents will share a subscription or sign up selectively to save money. For these people, streaming services provide the liberation to decide when to sign up or cancel if they please.
For Bonita Springs property owners, there are firm motivations to include cable TV as part of the rent. Specifically, internet providers will often bundle both internet service and cable TV, lowering the cost of both. For particular areas and populations, being fitted to offer internet service and cable TV may give property owners a competitive edge. The quickest approach to finding out if offering cable TV is a suitable offer is to ask your tenants, either current or prospective. They can enlighten you in regards to what prospective tenants anticipate and how renters may feel about the inclusion of “free” cable TV.
If you’ve communicated to your renters and they reject cable TV, it may be logical to temporarily discontinue your cable service while leaving the cables intact. Depending on the service provider, you may be qualified to suspend or even cancel service fairly easily, preventing you from the annoyance of having to pay for it each month. You may actually then give a slightly lower rent or, if you desire, pocket the savings.
Determining if keeping your cable TV service is the right move for your rental properties can take some time, and for rental property owners, time is money. Real Property Management Rental Direction can help you evaluate cost savings aspects, communicate effectively with your tenants, and more. Contact our team of Bonita Springs property managers online or call us directly at 239-240-8111.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
