Parking by the Rules
Because every rental property is unique, the number of parking on or near your rental property will also be different. It doesn’t matter what type of property you own or how much parking is available; you ought to maintain parking clauses in your lease agreement with tenants.
Many leases have restrictions on the number of vehicles a tenant can park in a driveway or nearby locations. Some leases forbid tenants from parking oversized or recreational vehicles on the property, such as boats and RVs. But your lease might need to go further than that if that’s the case. Some neighborhoods allow residents to park on the street – some don’t.
It’s also significant to clarify areas where tenants cannot park, such as in the yard, next to dumpsters, or on a property next door. By clearly laying out the parking rules and requirements, you may avoid many tenant disagreements about parking in due course.
Parking Solutions
Having parking rules isn’t always enough to offer tenants. If your rental property is in an urban area, there may not be a lot of parking available. Even if your rental isn’t located in a city, circumstances may result in limited space for your tenants to park their vehicles. In this situation, you need to come up with creative ways to expand or upgrade your tenants’ parking options.
If your rental property contains a single-family house with some land around it, you have a lot of relatively inexpensive options to contemplate. If your property doesn’t already have covered parking or a garage, you might want to install a carport near the house. A lot of carports are very cheap and could make your rental home much more attractive to tenants. It may even add to your resale value. Overall, renters prefer covered parking and are more eager to apply for a rental that includes it. Just check your area’s zoning laws before commencing any construction project.
If a carport is not appropriate for your rental property or if it shortages a generously sized driveway, another relatively inexpensive option to add more parking would be to create an area designated for parking vehicles. This place doesn’t have to be fancy and could be adjacent to the property. Yet, it is also vital to keep curb appeal in mind. Some tenants may be happier if you convert the front yard into a parking lot. If there is a side or garden area available, you might want to use that instead.
Property owners need to get even more creative in developing reasonable parking solutions for rental properties with small yards, driveways, and narrow streets. One option is to rent parking from a neighbor or a nearby parking garage. If an adjacent property has a place but isn’t being used, they might be ready to let you lease it for your tenant’s use.
Meeting all your tenants’ needs can be hard, but you’re not the only one. Real Property Management Superior Properties is here to support you in finding artistic and professional solutions for your parking issues. We have the knowledge and experience to help you make your Philadelphia County rental property more appealing to renters while still making sure they have a place to park. Contact us online or call 610-943-5996 today.