One big question all Riverview property owners face is which appliances should be provided to tenants. Because every situation is different from the others, this decision can be a bit challenging. While having certain appliances on hand 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 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 similar, tenants are more compelled to rent a home that comes with at least a few appliances in some parts. There are only a few tenants who are okay with the cost and inconvenience of buying and then moving in with these large and heavy appliances. A rental home that 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. This is expensive and time-consuming. They are something many tenants would pay a higher rent to refrain from doing.
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. However, you may be able to keep both your costs and the possibility 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 search for in a rental property include the refrigerator, dishwasher, stove, and microwave. Some single-family rental property owners opt to supply just the last three, leaving it up to the tenant to purchase their own fridge. It’s not difficult to see why: refrigerators are one of the top 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 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 you decide 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 experience more difficulty in 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. Some may have their own appliances; in these instances, having a backup location to place appliances for the next renter should be considered.
Legal Obligations
One final question that both property owners and tenants often ask is whether the law mandates landlords to provide appliances. In general, if you advertise your rental as “unfurnished,” the answer is no. Few, if any, local municipalities require landlords to place appliances.
So the question is not a legal one. But it will help you maximize your monthly cash flows. Again, being aware of your local market and what the other landlords offer in your area is essential. But you should always consider being 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, 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 Freedom can help! Contact us online or call our office to speak with a Riverview property manager today.
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