Offering incentives like “free” cable has long been one popular strategy homeowners take advantage of to impose a higher rent. And for long time, tenants eagerly paid the extra cost. Although public demand for cable TV is rapidly changing, causing many homeowners to ponder if it is right 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 similar to Netflix and Hulu. For these people, a lot of whom are tenants, “free” cable simply doesn’t hold the appeal that it formerly possessed. And for others, cable TV is still a vital part of their lives. For that reason, until you make up your mind to cancel your Richboro rental property’s cable TV, it is crucial to contemplate all the pros and cons of implementing,that’s why you should also speak to your renters about their desires and needs.
Including cable TV in your rental rate works for some locations and demographics. For instance, if your target renters are comprised of avid sports fans, then they are more likely to require live television services and will willingly pay a higher amount of rent to have it covered.
A lot of renters don’t want to sign up for cable services that will lock them into long-term contracts because they may not understand how long they will be dwelling in the rental house. They may also dislike the annoyance of contacting customer service each time something fails. For these renters, a rental house that can already provide cable TV presents a solid motivation to pay a moderately higher amount to avoid any trouble.
However, 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 consider cable TV lacking in viewing options. Although streaming services do cost money, a lot of younger people will share a subscription or sign up selectively to save money. For these people, streaming services present the independence to choose when to sign up or cancel if they choose.
For Richboro property owners, there is often a good reason 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 specific places and demographics, being capable to implement internet service and cable TV may provide property owners a competitive edge. The simplest manner to understand if providing cable TV is ideal for your situation is to ask your tenants, either current or prospective. They can advise you better than anyone what the trends are and how renters may feel about including “free” cable TV.
If you’ve spoken to your renters and they dislike cable TV, it may be practical to temporarily discontinue your cable service while leaving the cables intact. Based on the service provider, you may be able to suspend or even cancel service somewhat effortlessly, saving you the cost of paying for it each month. You may then provide a slightly lower rent or, if you want, pocket the savings.
Understanding if keeping your cable TV service is the right move for your rental properties can take a long time and for rental homeowners, time is money. Real Property Management Prosperity can assist you to evaluate the cost savings aspects, communicate effectively with your tenants, and more. Contact us online or call us immediately at 267-433-4200 today.
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.