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Updated about 8 years ago on . Most recent reply

User Stats

3
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1
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Clay Scott
  • Real Estate Investor
  • Oklahoma City, OK
1
Votes |
3
Posts

Rent Premium for a Storm Cellar in SW Oklahoma City?

Clay Scott
  • Real Estate Investor
  • Oklahoma City, OK
Posted

I just purchased my first ever investment property. I'll soon be done with the renovations and I'm excited to get it rented. The previous owner/occupants installed a storm safe in the garage (see https://goo.gl/21afSb for a photo of the type of shelter). The house is located in SW Oklahoma City where tornadoes aren't uncommon. (It's 3 miles from the path of the deadly 2013 tornado that struck Moore, OK.)

Is there a premium to be added to the rent because of this feature? If so, about how much ($ or %) could I expect to add to the base rent?

Thanks in advance.

Most Popular Reply

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1,030
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598
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Rhett Tullis
  • Property Manager
  • Oklahoma City, OK
598
Votes |
1,030
Posts
Rhett Tullis
  • Property Manager
  • Oklahoma City, OK
Replied

take it or leave it but my experience is that it does not increase rent much at all the difference it makes is the home rents quicker and more folks are willing to consider it.  The locals here are kinda numb to the tornadoes but out of towners moving to those areas ask first about a shelter and if it does not have one they just keep looking.  

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Integrity Oklahoma

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