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Updated over 10 years ago,
Annual Rental with Hot Tub and Other High End Accessories
I converted a house I previously lived in (my previously single batchelor pad) to an annual lease term rental. The property is higher end with bamboo floors, stainless kitchen, butcher block/steel covered bar, separate studio office/building, and a 7 person sunken hot tub. All in all, its an "attractive" rental, but could be a liability nightmare, given the sunken hot tub and higher end appliances.
I have to be quite selective with tenant screening and though I have a large pool of prospects, it still remains a challenge to find the right fit for a property such as this with considerations ranging small children (liability concerns only) to pets.
I have considered removing the hot tub and its supporting sunken deck, though it is quite an attractive feature both from a rental as well as sales perspective. Of all my properties this one generates the highest CF return when all is running smooth.
All in all, I wanted to gauge thoughts on higher end SFH long term (annual lease) rentals and properties with these types of amenities. Are they worth it?