One big question all Owasso property owners face is which appliances tenants should have in the rental home. Due to the fact that situations vary, this decision can be quite 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 give out appliances just to keep your rental competitive and justify your rental rate now and in the future. 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 already has them 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. 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 setbacks 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 expensive appliances 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, leaving it up to the tenant to buy their own fridge. It’s not difficult 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 at times, but it may turn potential applicants away from your property due to other areas.
This is also true for the washer and dryer. Due to constant use, these two appliances usually need more maintenance and repairs than all the others mixed together. Because of this, professionals suggest conducting 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 should have them as well. Otherwise, you are going to have more difficulty in renting your property and may even need to lower your rental rate.
You may want to contemplate where to store appliances that renters do not want to use during their occupancy. Some may have their own appliances; in these instances, having a backup location to place appliances for the next renter is necessary to take into consideration.
One final question that both property owners and tenants often ask is whether the law directs landlords to provide appliances. Usually, if you advertise your rental as “unfurnished,” the answer is no. Few, if any, local municipalities require landlords to have 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 offer in your area is essential. But you should always consider being within the limits of your budget. If purchasing appliances for your rental property would create extreme difficulty, it may be best to wait until you are in a better position to do so. Because of all of these reasons, selecting which appliances to provide 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 Tulsa can help! Contact us online or call our office to speak with an Owasso property manager today.
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