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Should You Add (or Remove) a Storage Shed from Your Sullivans Island Rental Property?

A Small Storage Shed in the BackyardA storage shed can be a likable add-on feature to a Sullivans Island single-family rental property. Nevertheless, a storage shed can correspondingly be a potential liability. This can make it a real challenge to know whether adding or removing a storage shed from your rental property is the right thing to do. Learning all you can about the pros and cons of storage sheds and if they should be pulled can make that decision more manageable.

What Value Does a Shed Offer?

Whether your property already has a storage shed or you’re thinking of adding one, here are several items you should keep in mind. According to appraisal experts, sheds do not add very much to a property’s value. The benefits of keeping a shed come from someplace else. This is incredibly necessary to understand if you are thinking about building or installing a shed on a rental property that doesn’t already have one. Although a basic shed can be rather inexpensive, there is an investment cost to consider.

Further, there are other pros and cons that you should think about before making your decision.

Pros: Attract New Tenants

The money you spend on a shed will presumably not translate into a higher resale value but may help make your property more attractive to long-term renters. This is particularly accurate if your rental home doesn’t have large closets, storage areas, or a garage. In such cases, a shed may help you attract and retain tenants who are pleased to spend a little extra for the convenience of having on-site storage space.

Another potential upside to having a shed on your property is the option for your tenant to use it as additional space. The trends of a “she-shed” or “man-cave” have been widespread for a while and don’t seem to be going anywhere anytime soon. There are multiple options for using a small space separate from the home, such as hobbies that aren’t suitable for indoors. If your tenants appreciate woodworking or other messy projects, this may be a cost-effective way to attract new, higher-paying tenants to your rental.

Cons: Potential Headaches

Of course, a storage shed may not appeal to all tenants in all markets. This makes understanding your local market and your target renter so important. For example, an increasing number of renters, even those who want single-family rental homes, are either minimizing their possessions or hiring service companies to help them take care of their homes. In either case, the tenant has fewer personal possessions and will not want to pay more for a rental home with a shed.

From a Sullivans Island property manager’s outlook, having a shed on the property might also bring a few undesirable concerns. A storage shed will require maintenance, adding to the time and expense of property upkeep. Similarly, tenants may overstuff or misuse the shed, leading to structural damage or even an insect or rodent problem. If this happens, your property values could suffer as a result. For this reason, some property owners may find pulling an existing shed, even one in satisfactory condition, to be the best alternative.

So…Keep or Build a Shed – Or Not?

Keeping or removing a shed is not a decision to make lightly. But if your property already has a storage shed, you will need to address whether or not to remove it at some point. Over time, all structures disintegrate. Once a shed has outlived its useful life, it may become both an eyesore and a liability issue. Sagging roofs, warped doors, insect damage, and rust can all turn a shed into a safety hazard for you and your tenants. If any or all of these states have materialized, failing to remove the shed could result in a lawsuit should someone get hurt. If you do decide to remove the shed, it is important to follow proper safety procedures or hire a respected contractor to do it for you.

Choosing to add or remove a shed demands painstaking analysis and planning. But such steps are necessary to ensure that you have made the right decision for you, your tenants, and your investing future.

Real Property Management Instant Equity is here to help investors with tricky questions like what to do with a shed on your investment property. We can advise you on everything from maintenance to tenant relations. To learn more about what we can do for you and your investments, call us at 843-898-5743 or contact us online.

If you’d like to continue researching maintenance and repair tips for your rental property, check out these blogs:


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