Cosmetic rot in deck. What to do?

[David Jarvis]

Hi BP,

So a deck on one of my rental properties has a rotten area due to a bad design that doesn't let water drain out properly.  It got inspected about a year and a half ago and I was told it was completely safe, despite how it looks.  It's also aging and has probably only got another few years before it needs to be at least refinished.  The deck is 2 stories up, and the tenants have recently expressed concerns about going out there.

These are good tenants, that have been there for about 2 years (now month-to-month) and are at roughly market rent ($1400/m).  I estimate the deck refurb is going to cost $2000-2500.  I'm in ontario (rent controls) and I haven't increased their rent since they moved in.

What would you do in my situation?  Should I tell them that the inspector declared it safe and to use their best judgement?  Replace the deck either now or when they move out?  Offer to replace it for them if they sign on for12 month at a bumped-up rent?