What do you do about allowing tenants to install TV (either satellite or cable) and Internet service in their individual units?
I don't care if they do, I just want to have it done in an orderly, nice-looking (hidden, if possible) fashion. And I don't want to pay for it.
Is it a house or an apartment?
Most places are already wired for both. Just make sure they aren't considering satellite TV and will be bolting an ugly satellite dish to the property somewhere. Other than that it shouldn't be an issue.
Thanks @Marc Ramsay These are attached townhomes. It is my understanding that it is illegal to forbid a tenant to install a satellite dish, but I have control over where it can be placed if that's the option they choose. I would prefer cable TV, but I am sure some tenants will want satellite. I have not closed on the property yet so I don't know if it is pre-wired or not. I will add that to my list of things to do though...
You need to drill down on the satellite thing. Where it is placed is critical. Best reception might be on the roof but they can cause leaks and also can have an electrical fire during a storm causing a fire and damage to your building.
So I see on buildings where they might allow one installed on the ground but not the building and they have to get management approval. The satellite company if they are a professional one will not install a satellite without written management approval because of liability of the tenant not owning the building.
No legal advice.
Forgot to mention to check with your property insurance you will be placing on this property about satellites etc. If you get really high rates the existing insurance with current owner might let you just pick up the existing policy because they have a history with the property already.
Make sure when looking at profit numbers that the insurance is in line with quotes you are getting. The current owner might get all their insurance (car, health,life, property) from one place for an artificially low rate or own a bunch of other property and have maxed out the plan so adding one more property is very cheap.
@Joel Owens is right about the insurance. I have run into the issue when doing due diligence a number of times where the quotes I am getting on the property are nowhere near as low as the rates that the current owners states they are getting. It can really affect your bottom line.
One reason can be that the current owner is insured for a stated value, and a new quote may be for replacement value. If the current owner is only insuring the building for what he paid for it instead of what it would cost to replace on a total loss, then the rates will be much lower.
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