One big question all Kendall property owners face is which appliances should be provided to tenants. Due to the fact that situations vary, this decision can be quite challenging. While providing certain appliances might be the right move for some property owners, that is not always the case for every rental property. Still, some comments from tenants show that there is a strong need for appliances in many markets, and these household items are even expected in some places. You may need to give out appliances just to keep your rental competitive and justify your present (and even future) rental rate. But which appliance? Here’s what the experts recommend.
Appliances (Not) Included?
While every rental market is different, tenants are more compelled to rent a home that comes with at least a few appliances in certain parts. There are only a few tenants who are okay with the cost and struggle of buying and then moving in with these large and heavy appliances. A rental home that has them already will be much more attractive. Many rentals, especially among single-family rental properties, tenants do not like having to go to laundromats to do their laundry. Both are expensive and time-consuming. They are something many tenants would pay a higher rent to avoid.
Of course, from a property owner’s point of view, there are cons to the cost of the appliances and repairs and the probability of tenants damaging the machines through inappropriate use. But you may be able to keep both your costs and the probability of appliance damage to a minimum by choosing which appliances you provide.
What Tenants Want
Based on what tenants have to say, the pricey items they look for in a rental property include the refrigerator, dishwasher, stove, and microwave. A few single-family rental property owners opt to supply just the last three and leave it to the tenant if they want to buy their own fridge. It’s not difficult to see why: refrigerators are one of the top expensive appliances that require replacement more often. Providing some but not all appliances may work in some instances, but there is always a possibility that they can turn potential applicants away from your property due to other areas.
This is also true for the washer and dryer. Due to constantly being used, these two appliances generally need more maintenance and repairs than all the others mixed together. For this reason, professionals suggest doing some research on your local market before selecting whether to include a washer and dryer in your rental home or not. If all of the rentals in your place have them, you may need to follow suit. Otherwise, you may have a harder time renting your property and may even need to adjust your rental rate.
You may want to contemplate where to store appliances that renters do not want to use during their tenancy. Some may have their own appliances; in these instances, having a backup location to place appliances for the next renter should be considered.
One final question that both property owners and tenants often ask is whether the law instructs landlords to provide appliances. Generally speaking, if you advertise your rental as “unfurnished,” the answer is no. Few, if any, local municipalities require landlords to supply appliances.
So the question is not a legal one. It is a matter of helping you maximize your monthly cash flows. Again, being aware of your local market and what the other landlords give out in your area is key. But you should always consider being within the limits of your budget. If buying appliances for your rental property would create extreme difficulty, you should wait until you can do so. For all of these reasons, knowing which appliances to supply in your rental is a choice that only you can make.
Would you like to know more about how to accurately assess your local rental market to set rental rates and make key decisions about your property? Real Property Management Dade can help! Contact us online or call our office to speak with a Kendall property manager today.
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