When you are renting a property, it’s crucial to know exactly what is included in the rental payment that you pay out each month. Sometimes, the money that you pay your landlord will just cover the use of the space (and potentially its furniture, if your property is furnished) each month.
Other times, your rent may be all-inclusive.
All-inclusive rent is when the money that you pay your landlord each month covers bills, as well as the actual cost for using the space, commonly known as rent.
These bills are often pre-decided by the landlord and on the lease agreement, in the section that describes what rent pays for. There will likely be an addendum made to the lease that explains what the tenants will pay for, and what the landlord will cover.
The term all-inclusive suggests that the rental fee does include all of the main utility bills like electricity, gas, and water, but you need to make sure. There may be other rent agreements where tenants pay for just one bill out of electricity, gas, and water. Furthermore, some all-inclusive rent arrangements may include the internet, cable, furniture, or yard work.
We highly suggest performing due diligence on your lease prior to signing it to see which ones you will need to pay for.
The section of the lease that refers to tenant responsibilities may look like this:
There are several pros to all-inclusive rent. Here are some key things to note:
It’s a lot less hassle
No more splitting bills with roommates
Flat monthly rate - Don’t worry about your consumption of electricity, gas, or water
There is no risk of unpaid bills and a subsequent cut off of services
It helps with budgeting knowing the exact amount you'll pay each month
You wont have to be in contact with tons of providers about setting up accounts
There won’t be any nasty surprises on bills!
Generally, all-inclusive rent is a good solution for tenants. Most tenants prefer to know exactly what is going out each month and to live in the reassurance that they won’t have a nasty shock next time the bills arrive.
Here at Alcove, we act as the bridge Homeowners and Tenants. When you rent with Alcove, your per-bedroom lease payment will cover the cost of rent, utilities like electricity or gas, wifi, shared spaced furniture, the in-unit washer and dryer, landscaping, and sometimes access to the community pool or park.
With Alcove there are no surprise fees and we make care of everything!
If you want to become a more knowledgable tenant, read our blogs on coliving: https://alcoverooms.com/blog/co-living