Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
6y
It depends on the market and your tenant profile. You'll want to see what other rental properties with/without fences that are similar to yours in both location and amenities - and gauge the rent price based on those findings. If you're trying to attract families as tenants, fences are attractive - but they may not impact rental price.
In my market, a fence would not add to the rental price - but would to the property value. Let the market determine what improvements you make so you can increase BOTH the rental price and value.
Rental Property Investor · Springfield, MO · Member since 2019 · 462 posts · 365 votes
6y
Kind of like @Patricia Steiner mentioned... but to add to it. You also need to look at what you are getting privacy from. If the house backs up to empty lots then a chain link fence is just as good as a privacy fence. If your property has a 15' yard and your neighbors can watch you grilling from their kitchen then a privacy fence would be nice and help attract better tenants.
Overall... don't just look at 'does _____ increase rent?' but also look at 'does _____ get me better tenants?'. That second questions is more valuable (IMO) than the first because a bad tenant can ruin the ROI of a property for the entire year.