Should I include appliances in my rental?
Zen Rent Property Management - Tuesday, June 21, 2016
I'm often asked, "Should I include appliances in my rental?" On the surface it seems practical to offer appliances to tenants. The logic is simple; the more I offer in my rental, the more it will be desired, the more rent I can collect. However, experience has shown that this is not always the case. Don't get me wrong there is a time and place for appliances - small condos that are ideal for first time tenants. And by stating "appliances" I am referring to the refrigerator, washer, and dryer since these items are not built into the property. We manage properties both with and without appliances and over the years I have noticed that properties that have all the appliances included rarely add any rental value. But there is a down side, not only do appliances not add additional value they also bring an added price tag of having to maintain the appliance. Meaning, if an appliance is included in a lease agreement the Landlord is responsible to maintain the appliance. Not only that, but I have noticed that tenants who bring their own appliances usually stay longer; because, let's face it, hauling appliances around is a hassle and these tenants are less likely to skip out on a lease and show that they are intending to be more permanent than a tenant who has not taken the time to purchase their own appliances. When it comes to appliances I like the old adage 'less is more'.