I am planning to provide a shed in the back garden to be used exclusively by the tenant for additional storage.
I will pay for a lock and keep a spare key for myself so that I can look inside the shed when I carry out inspections. I will also warn the tenant that anything stored in the shed is at their own risk (as it is for their belongings inside the property) and it is up to them to get insurance if they want to.
Do I need to make any changes to the tenancy agreement or inventory?
Does anyone see any pitfalls or any other precautions I should take?
Why are you providing a shed? Unless there’s one on site when I buy a property I ask the tenants to provide their own shed.
It’s a cost outlay you can’t claim any tax relief as it’s classed as an improvement to the property and also another item you would have to maintain and repair as there’s little chance of the tenant treating it annually with a wood preservative. It makes no sense.
Can’t see how a shed adds value! They all become rot boxes and provide free accommodation to the local rodents. Whatever added value you may think is eaten away in maintenance and repairs.
If you put in a shed make it a plastic/metal one - wooden ones rot, need reroofed and are basically a pain. I have spend ÂŁÂŁs over the years maintaining and replacing the shed in my rented property garden, however it is useful if you want them to maintain the garden that they have somewhere to keep their lawnmower.
Good luck with your “shed investment” George. Personally I fail to see the benefit return in installing a liability that the elements and tenants relentlessly try to destroy.