Installing Fence for Rental Property

[Travis Washington]

I have a house that has been vacant for roughly five months now.  The home is in good condition and we have had a lot of showings.  However, a major feedback we have been getting is the fact there is no fence.  We have listed the property in the past for $720 and $750 without a fence.  For those two times, the home was rented within one week and one month, respectfully.

We originally listed the home $800 and then dropped it to $750.  The quote we received for a new fence was $2,500 and I'm currently working to get a second quote.  I was against installing the fence due to the price but at this point, I am tired of the property sitting vacant and feel that a fence may also add value for resale and future rent.

My Question:

Would it be sound (and permissible) to raise the rent back up to $800 with the installation of the fence?  The property is located in Oklahoma.

Note: There is a duplex that I own as well right behind the house so a fence would provide some privacy.  Additionally, I had a bed management team prior and already had to spend close to $1,000 to get the property back into rent condition after switching management companies.