Have you ever wondered what financial impact smoking may have on your rental property? Read on to find out some of the downfalls of allowing smoking.
Eric Wiegers of the California Apartment Association estimates that it generally costs 3-4 times more to turn a unit if the past tenant was a heavy smoker. That could equate to thousands or tens of thousands of dollars depending on the overall condition and value of the unit.
These large increases in turnover cost arise from the extensive cleaning procedures or possible replacements that need to be done. Most of the time carpets, walls, cabinets and fixtures need to be treated with odor control such as an ozone treatment. This will fill the unit with a gas that will clean the air, walls, carpets, and cabinets of the smoke smell. Ozone treatment can be expensive and if they don’t work, the only other option is generally replacement.
When the damage is great enough that a total replacement is the only viable option, the cost of a turnover can easily exceed $12,000.00-15,000.00. This would usually include carpet, padding, curtains, vinyl, countertops and other furniture. Walls, doors, shelving and cabinetry will need to be re-painted and treated with odor control products.
If the property is a multi-unit building, the type of heating or cooling and ventilation system in place could also affect whether or not other units or common areas incur any smoke damage. This could have a drastic effect on the total restoration cost, as common areas can be even more expensive to repair.
Of the 2,100 plus properties that Renters Warehouse manages, less than 1% of them allow smoking inside the property. That goes to show the great concern every owner and Minneapolis property manager should have for this potential issue. It is not only a potential fire hazard, but can have significant long-term effects on the property condition.