What Landlords Should Know if Their Tenants Work from Home
Work from home tenants usher in a new lifestyle which for landlords, means their rental properties are potentially being used as workspaces while also being residences. For property owners, this change brings additional factors to think about and duties to fulfill. If any of your tenants are working from home, here’s what you should be aware of!
Understanding the Needs of Home-Based Workers
It takes more than just a laptop and a couch to work remotely. Tenants probably want access to extra amenities that a regular workplace may offer, as well as cozy, peaceful areas to concentrate and dependable high-speed internet. Renters may stay in your property longer if you, as the landlord, recognize and meet their demands.
Internet is Everything
As a landlord, you should keep in mind that an effective remote work relies on strong and dependable connection is a need. An upgrade to the property’s infrastructure may be required to accommodate faster and heavier internet usage for remote workers, especially if multiple tenants will be using the internet at once. By offering or allowing improvements for a high-speed internet to your property can be a major selling point.
Rethinking Utility Bills
The increased amount of time these tenants spend working from home could lead to higher utility bills, particularly for water and electricity.
While most of the time spent by remote working tenants are working from home, it could lead to higher utility bills like water and electricity. This can greatly affect bills, particularly in units where utilities are included in the rent.
This change may have a significant effect on bills, particularly in apartments where utilities are included in the rent. Landlords should think about how utility usage is affected by remote work and whether adjusting rental agreements are necessary.
Noise and Disturbance Policies
Peace is necessary for home offices, and not all residential communities have it, especially during the day. To keep a working environment for tenants, it might be time to review and update the property’s noise regulations and make sure all tenants are aware of them.
Flexible Use of Space
In order to make a home office, some tenants might need to rearrange their living areas. It’s possible that as a landlord you will be asked to make changes to the unit’s design, such as adding more power outlets, soundproofing, or partitions. Stronger landlord-tenant relations can result from being responsive and conscious of these needs.
Security Considerations
Sensitive company information held by remote workers may call for heightened security measures. While this is mostly the responsibility of the tenants, landlords can do their part to help in making the property safe for these tenants to work in. These may look like: installing good lighting in the property, ensuring entry systems are secure such as strong and effective locks or keycards, and even installing security cameras in public areas be it the lobby or hallway leading to the unit.
Insurance Implications
With the way work from home is handled, it may blur the lines between residential and commercial property use. This would especially be the case should it involve business visitors or handling special equipment for work in the home. This alone brings an increased risk of potential damage to property, which can be minimised by having landlords review their insurance policies. Additionally, they should also encourage their tenants to acquire renter’s insurance for business activities.
Evidently, one can observe how tenants’ expectations and property management are being reshaped by the rise of remote work in a post-pandemic society. Landlords who proactively adapt to these changes position themselves as favourable choices for the modern, remote professional. Keeping up with current trends is not as important as comprehending how the concept of “home” is changing and making sure your property aligns with that evolving definition. So, if you’re a landlord, you ought to stay informed and seek legal advice before making any changes in your policy or tenancy agreement!
Are you a remote working tenant looking for work from home tips? Read this: 3 Tips To Create A Productivity Hub At Home
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