Purchasing appliances and keeping them in good condition is part of a landlord’s job, but it’s a more difficult task than it sounds. Unfortunately, even high quality appliances don’t last forever, and minor repairs don’t always do the trick. Knowing which appliances to purchase and getting them for the best price is of the utmost importance.
While renters often look for new appliances when shopping for a place to live, there is no need to constantly replace well-functioning items. Sometimes a fresh coat of paint or some new knobs are all you need. When it does come time purchase new appliances, however, make sure that you reference this handy guide.
Contrary to popular belief, supplying appliances in a rental unit isn’t the industry standard. It’s entirely dependent on the location and the quality of the apartment. Generally, many apartments located in the lower-end of a community don’t supply appliances because of issues with theft, while the high-end neighborhoods fully expect appliances in their apartments.
Other times, the decision to furnish appliances will depend on the type of unit you rent. For example, apartment units are more likely to have appliances than homes or trailers. That’s because families moving to a home rather than an apartment are more likely to bring their own appliances.
Another important distinction to make in rental appliance standards is the type of appliances generally provided. The appliances that might be supplied in a partially furnished apartment could be as small as a toaster or as large as a washer and dryer. Some apartments will provide everything, but most only provide the large, essential appliances like the range, refrigerator, and dishwasher.
Landlords looking to go the extra mile and provide “bonus” appliances will also include a water and dryer set and microwave. However, most landlords expect their tenants to bring their own microwaves and won’t provide washers and dryers. Many will be equipped with hookups so that tenants can bring their own machines.
Providing appliances in your rental unit can be a smart move for attracting tenants, but it can also be expensive. Aside from the fact that good quality appliances can cost thousands of dollars, there’s also upkeep involved. When purchasing appliances, it’s best to focus on keeping quality up and cost down.
This might mean that you don’t purchase appliances brand new. Some appliances can be purchased at a consignment shop or found gently used at a thrift store for a fraction of the cost. If you’re purchasing used appliances, there are a few things to watch out for, however.
• Request proof that the appliances are in working order and that they’ll last long enough for the asking price to be worthwhile. To this end, ask the used appliance shop to show proof of a quality inspection.
• Make sure the seller thoroughly cleans their inventory. Dirty appliances will attract pests, not to mention scare away tenants.
• Find a used appliance store that will deliver. That’s one less thing you have to worry about as a landlord.
• Never take a price at face value. Most used appliance shops will negotiate so you can get the price down. Before paying for an item, always find leverage to ask for discounts. You might also be able to trade in old, broken appliances for credit that can be used towards a used appliance purchase.
• Try to purchase appliances from a used appliance store that will also make repairs. That way, you can keep your supply and maintenance within the same venue, increasing efficiency. The repairmen will be familiar with your appliance, which is an added bonus when keeping things properly maintained for your tenants.
Keep This In Mind When Buying New
Even though purchasing appliances used can be a good option for your rental property, there are some appliances you’ll want to purchase new. Refrigerators and dishwashers, for example, function better and for longer when they haven’t been previously used.
You’ll also be grateful for the warranties, in case things break prematurely.
When purchasing new appliances, you don’t need top-of-the-line equipment, but it shouldn’t be low quality either. Shop for sales at local big box stores for the best prices on quality equipment.
When determining the special features you’ll need for your appliances, focus on what your tenants will be expecting. If you’re looking to rent out a high-end property, appliances should be a little fancier. If not, you can get away with simple alternatives.
Another important aspect to consider when purchasing appliances, whether used or new, is the energy savings. Even if your tenants are paying for utilities, it’s best to keep energy costs down in order to retain tenants. Using ENERGY STAR® rated appliances is one of the best things you can do to keep utility costs down.
Older appliances (anything not made in this century) won’t have the energy savings and potential tax rebates that come with ENERGYSTAR® appliances. As technology continues to advance, manufacturers are finding ways to make their products even more efficient – something you can capitalize on if you purchase the right appliances.
Work with Your Space
Most appliances come in a standard size, but for smaller units, that won’t work very well. Tenants are looking for more space, and crowding the kitchen with appliances will be a big turnoff.
If your units are spatially challenged, investing in smaller appliances is a no-brainer. Small, vintage-style refrigerators can give the kitchen some character without sacrificing much-needed cupboard space. You can also purchase half-sized stoves if you’re really in need of space-saving features. You can find an appliance to fit any size apartment and maximize the space if necessary.
Contact Green Residential Today
At Green Residential, we know that being a landlord isn’t easy. There are many things to consider in order to ensure a great return on investment with your rental property and accompanying features.
It’s a challenge to keep up with everything, but our team of experts is ready and willing to help you out! We’re dedicated to making tenant-landlord relationships as smooth and stress-free as possible. For more information about what services we can offer you, contact us today!