Offering incentives like “free” cable has long been one popular strategy that property owners typically get higher rent. And for a long time, tenants eagerly paid the extra cost. But public demand for cable TV is rapidly changing, making some property landlords question if it’s the best time 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 like Netflix and Hulu. For these individuals, some of them renters, “free” cable simply doesn’t hold the appeal that it once did. But then for others, cable TV still holds the ideal of contented living. For you to know if you need to cancel your Maize rental property’s cable TV, it is intrinsic to analyze first all the pros and cons of doing so, as well as confer with your tenants if it’s a must-have.
Including cable TV in your rental rates can also be considered logical for different locations and demographics. For example, if your possible tenants are more of avid sports fans they are most likely to be into live television services and will surely pay a bit more rent to have it added.
A lot of residents also avoid signing up for cable services that will lock them into long-term contracts since they may not expect how long they will be residing in the home. They may also loathe the stress of contacting customer service every time something goes wrong. For these residents, a rental home that is ready to provide cable TV offers a good reason to pay a little extra to prevent any difficulty.
Alternatively, some younger tenants 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 various individuals who deem cable TV lacking in viewing options. Although streaming services do cost money, some people would still share a subscription or sign up selectively to save money. For these types of individuals, streaming services advocate the convenience to choose when to sign up or cancel if they want.
For Maize property owners, there are plenty of good reasons to include 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 several areas and demographics, being able to provide internet service and cable TV may give property landlords a competitive edge. The clearest routine to ascertain for sure if providing cable TV is justifiable for your setting is to ask your tenants, either current or prospective. They can tell you better than anyone what the projections are and how tenants may feel about including “free” cable TV.
If you’ve discussed this with your tenants and they reject the cable TV, it may be promising to temporarily discontinue your cable service while leaving the cables intact. Depending on the service provider, you may be able to suspend or even cancel service easily, saving you the expenditure of paying for it each month. You could then propose a slightly lower rent or, if you decide to, pocket the savings.
Apprehending if keeping your cable TV service is the right move for your rental properties can take time, and for rental property landlords, time is money. Real Property Management First Choice can help you evaluate cost savings aspects, communicate effectively with your tenants, and more. Contact us online or call us directly at 479-242-0791 today.
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