General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago, 10/09/2023
Lease Language To Make Tenants Pay To Refresh Paint
It is quite expensive to paint. About to spend $2500 for labor and materials to repaint a 1400 sqft townhouse. BTW this is a competitive deal for my area. Yes, we self manage. No, we refuse to do any of the work.
This will greatly deplete cash flow for those $200/door deals. Tenant (inherited) was in unit for 17 months, we have to repaint as most of the walls are badly stained. This got me thinking about adding a language to lease to deduct (from security deposit) costs related to repainting or refreshing. For example move within and up to 1 year tenant pays for 75% of cost to refresh or repaint. Move after 3 years tenant pays 25% and 0% if they stay 4 or more years. Cost applies when tenant chooses not to renew or landlord terminates due to lease violation.
Anyone include language about repainting or refreshing paint in their lease? Thoughts?