How important is a fenced yard & shed?

Question

We put in an offer on one of the 5 homes we looked at yesterday. This house is only 6 years old, ranch style - 3 bed/1 bath on a crawl. Virtually it needs no work and is in move-in condition. With the exception of wiping down the stove, fridge and vaccuming. 
          
          However, the backyard is not fenced, nor does it have a shed on the property. The other downside is there is no garage. The closets in the bedrooms are good sized (double sliding doors) and there are two other closets in the hallway (one for linens and a coat closet). There is an attic but you'd have to get a ladder to get up there. So we are thinking a shed might be a good idea. Even a used one in good shape that would could plop on the property.
          
          But my big question is fencing. How important do tentants view having a fenced back yard? We don't allow pets so this would be more for children. I say yes, hubby is on the fence about it (no pun intended). The neighboring house is similiar in style and they don't have a fence but I can tell they have small children due to the ride on toys stored next to the house. I personally think a fenced yard would be important. What are your thoughts on it? 
          
          If yes, would you say chain link would be the best to go with? I haven't priced it but I think it would be easier to maintain than a wooden one that you'd have to keep repainting.
          
          This all being forethought as we just put in our offer  :wink:

Luis A. · Answer

I think the answer to this will depend on your market.

Who do you expect to be renting this house? A family, single individuals, is it available to people with pets...?

I have a property with a fenced yard and that has made it very attractive to couples with children (I do not allow pets)

What you can do is announce the willingness to put in a fence with a signed lease.

I don't think the shed will be that important.

Josh Green · Answer

i think a shed will be a necessity without a garage. if they don't have anywhere to put their 'junk' it is likely to end up in piles on the side/back of the house...not cool.

i'm also an advocate for the fence. i personally like fences. not only does it keep things in the yard, but it keeps things OUT. chainlink won't cost much and will last a while. i really wouldn't even charge extra rent. why punish the first tenants and not the next? its an investment into the property.

i'm a little surprised its a 3/1 built 6 years ago. may want to consider adding a half bath if u have difficulties renting it out. i would def add it before selling.

congrats kel. i always love reading ur posts and successes!

Account Closed · Answer

I vote against those metal tool sheds. It doesn't take them long before they look crummy.

A tool shed that matches the house is a good asset. Same sort of siding (or same look), painted to match.

Not all my places are fully fenced, but fencing is a plus. It has the benefit of keeping those neighborhood kids out of your yard. It keeps loose dogs from pooping in your yard, or chasing your tenants.

Chain link doesn't look good. I'd opt for a cedar board fence with metal fence posts. The new "pressure treated" fence posts are junk and will rot in about 2 years. (ask me how I know; not happy )

A solid fence also gives privacy. 6 foot, if local zoning allows it.

Another fence option, if the neighborhood has a crime problem, is to build the fence out of hog panels and grow rosa rugosa over it. Very pretty and nobody is going through it.

Kel S · Answer

You know I hate to say this outloud, but I have wondered if agents (and I'm sure not all of them do this), might say things hoping for a higher offer to come in. Or like the one we ended up backing out of the agent dragged his feet for over a month to get the gas turned out. The next day after we backed out, it was sold to someone else...things that make you go "hmmmm".

Kel S · Answer

This is the first we've experience this where the house was suddenly no longer on the market for those reasons. Is this a common thing? If so, I guess I'll put that on my list of questions to ask the agent before putting in offers next time. As I'd like to know up front if the grace period is up for the original owners.

Kel S · Answer

Thanks for all the input. I agree with you all about the fence. I think it's a good idea.

It ends up a moot point on this particular deal. Just got a call from the realtor who said they just found out that the previous owner was able to get the house back before the grace period ended by modifying his loan. While I'm genuinely happy for him, I'm also thinking why the heck did this house even get listed on the market before his grace period was up??? Weird if you ask me. If I were the owner that would irritate me to no end....knowing real estate agents were walking people through my house for showings while I'm scrambling to get it back. Sheesh.

Eddie Ziv · Answer

People want to keep their option open. If the mod couldn't go through, at least they would have had a buyer.

Eddie Ziv · Answer

I have never experienced it but I recently encountered some other strange thing. Two of the properties that my investors were interested in, were reported by the seller's agent to be available, but when we faxed in an offer, we got a call from the seller's agents (Two separate occasions) that the properties are under contract for sometimes... (One was three days, the other one was a week)
          Go figure... 
There is lots of "Monkey business" incidents going on especially with REOs where properties are put on the market while a deal is being worked out behind the scene with some wholesaler or a bulk buyer...

Eddie Ziv · Answer

I think that fenced yard is a great plus and cost effective. I would go further and say that in certain areas, it is a must especially if the property has a back alley. I recently put in 5' chain-linked fence in two of my properties. I also installed a gate, so the tenant can drive in and park the car safely (The property doesn't have a garage). It would also be easier to rent the property if there is a fence.
As for shed, it is a plus, but I don't see it as necessity.

Rich Weese · Answer

I rent mostly to families. A wood fence is a necessity to rent quick, and get more rent monthly. I pay 10 bucks a lineal foot. It also keeps vandalism down more than chain link. Too easy to see through a chain link. I also add a shed if no garage. Rich.

How important is a fenced yard & shed?

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