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I am about to make an offer on a condo that has a water heater in a closet in one of the bedrooms. I am hesitant as I am assuming that this is all according to code but is it going to be a turnoff to my potential tenants? Would you have trouble renting a place that has a properly installed water heater, albeit in your sleeping quarters? I hear that as long as I put a CO monitor, itself good but....is it an issue that would lower my potential tenant pool or resale value?
interesting....and why not condos? this well is well maintained and comes at a good price. excellent location.....is there something I should be aware of with condos?
What type of flooring is it sitting on? Also, does it sit on one of those drain pans that is routed to a drain for when the water heater fails? If I were a buyer I would want to see those things.
its on the concrete floor.....I can look at those details or rather inspector will, but I am assuming this is all according to code as this condo was built by a well known regional builder.
My issue is mostly optics or how it would be a turnoff to the tenant....? assuming its all safe
I think that's fairly common, if they are not put in a garage. Our townhome had that. It was on tile floor and on a drip pan that had a drain to outside.
Because to a tenant, it is just another apartment. They treat it like an apartment: who cares, they don't own it. It's difficult enough to get tenants to behave and follow the lease and if they violate the HOA rules, it isn't them that gets fined, it is you, and fines pile up as you are trying to get the tenant to comply.
Some condo associations don't like having rentals in their building, so they can make your life difficult.
You're buying a unit for the purpose of investment, your renting it. As long as everything is in good working order, to code, and otherwise a habitable space, does it really matter where the w/h is? And I'd have to assume that the other units like this one have the same setup(?)
And of those, How many are rentals? Has the unit been a rental in the past- or is currently? What is the rental history? Do have any idea what the potential rental income is/history (this can be a tell-tale of the size of pool)?
If the location is right; and the price is in line with the surrounding area, I think your potential pool is as good as any other unit.
Would you have trouble renting a place that has a properly installed water heater, albeit in your sleeping quarters? I hear that as long as I put a CO monitor, itself good but....is it an issue that would lower my potential tenant pool or resale value?
This is gas heater? I'd be reluctant to put one in closet to begin with whether it's up to code or not but in the bedroom that is going to be a bit noisy. If it's regular electric I would not concern myself about it and there is no CO cocern. If it's heat pump water heater it can't be in a closet.
I am thinking that if a tenant knows enough to question it, they might be able to understand things that have been done to make it safe. If it is gas there should certainly be a CO monitor nearby, but that's a good idea anyway. The correct drainpan with drainage is important. Gas/water piping secure and safeties working. All of that is code and pretty standard stuff for an inspector. I agree with thecoalman in that they can be noisy, some more than others. That is the only real issue I can see here, unless it turns out to be a tenant that decides to store some meth making materials in there or something.
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