One big question all Hoover property owners face is which appliances should be given to tenants. Due to the fact that every situation is different from one another, this decision can be quite challenging. While providing certain appliances might be the right move for some property owners, it is not always the case for every rental property. Still, some comments from tenants show that there is strong demand for appliances in many markets, and these household items are even expected in some areas. You may need to supply appliances just to keep your rental competitive and justify your current (and even future) rental rate. But which appliance? Here’s what the professionals recommend.
Appliances (Not) Included?
While every rental market is not alike, tenants feel more compelled to rent a home that comes with at least a few appliances. There are only a few tenants who are okay with the cost and bother of buying and then moving in with these large and heavy appliances. A rental home that already provides them will be much more attractive. In a lot of rentals, specifically among single-family rental properties, tenants do not like using laundromats to do their laundry. Both are expensive and time-consuming. They are something a lot of tenants would pay a higher rent to avoid.
Of course, from a property owner’s point of view, there are disadvantages to the cost of the appliances and repairs and the chance 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 costly 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 hard to see why: refrigerators are one of the most expensive appliances, and they often need to be replaced. Providing some but not all appliances may work in some instances, but it may turn potential applicants away from your property due to certain aspects.
This is also true for the washer and dryer. Due to constantly being used, these two appliances commonly need more maintenance and repairs than all the others mixed together. For this reason, professionals suggest doing some research on your local market before determining 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 stay. A few may have their own appliances; in these cases, 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 mandates landlords to provide appliances. For the most part, 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 which option will help you maximize your monthly cash flows. Again, being aware of your local market and what the other landlords provide in your area is significant. But you should always remember to work within the limits of your budget. If having appliances for your rental property would create extreme difficulty, you should wait until you can do so. For all of these reasons, determining which appliances to have 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 Victory can help! Contact us online or call our office to speak with a Hoover property manager today.
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