Should You Fence Your Rental Home?
Fencing is a significant project, one which shouldn’t be done without some thought as it represents a considerable expense. Since the homeowner lives in their primary residence for some or all of the time, it’s easier to determine if their own home needs a fence. But, what if the property is a rental for a portion or even year round? Here are some ways a homeowner can determine if their second home needs a fence and why it might make sense.
Security
If the home is in an area which is less than secure, a fence will go a long way in keeping the property safe. Fencing can result in fewer break-ins and acts of vandalism. The truth is, it’s just not worth it to vandalize someone’s house if there is another one which is within easier reach. A fence can cut back on crime.
Establishes boundaries
One thing you don’t want if your property is a rental is for your tenants to take liberties with the neighbors’ property. A fence will delineate the boundaries for renters, so they’re less likely to cause a problem with the neighboring yards.
Safety
If your renters have children or pets, the property becomes more desirable if it has a fenced yard. Also, it will keep wildlife or other animals off the property, making it safer. Sometimes coyotes or javelina will decide to take a stroll through populated areas, and a fence will keep them out.
Market appeal and resale value
Potential tenants will appreciate the security and safety a fence offers, which will add desirability to a rental property. But, beyond that, a fence will almost always increase the resale value of a home by 50% or more than the cost of installation. As a bonus, a house with a well-built fence sells faster than a home without one. So, the owner of a second home will reap the benefits twofold in terms of desirability, both in the rental market and in the real estate sales market.
Fitting in
If the other homes in the neighborhood have a particular style, or there are fence regulations set by the HOA, then it’s easy to choose fencing which is congruent with the architecture of the home and with other fences in the neighborhood. It’s worthwhile for a homeowner to spend some time getting to know the area, even if he’s never planning on living there, so he has a fair idea of what the risks and safety hazards are in the neighborhood. The time spent will make choosing specific components, such as fence height and materials, simpler for a homeowner who isn’t living on the property.
While the expense of adding a fence may be depreciable under tax guidelines it the property is a rental, the long-term value of fencing is the peace of mind in knowing you’ve done what you could to protect your investment and your tenants with a high-quality fence.
