One big question all Baltimore City 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 insights from tenants show that there is high 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 experts recommend.
Appliances (Not) Included?
While every rental market varies, tenants are more compelled to rent a home that comes with at least a few appliances in certain areas. 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, especially 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 setbacks to the cost of the appliances and repairs and the probability of tenants damaging the machines through inappropriate use. However, you can keep both your costs and the likelihood of appliance damage to a minimum by being selective about 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. Some single-family rental property owners will only 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 most expensive appliances, and they are susceptible to be replaced more often. Providing some but not all appliances may be applicable sometimes, 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 constantly being used, these two appliances typically need more maintenance and repairs than all the others added 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 area have them, you would also need to have them. Otherwise, you may face more challenges in renting your property, and you 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 occupancy. Some may have their own appliances; in these instances, having a backup location to place appliances for the next renter should be done.
Legal Obligations
One final question that both property owners and tenants often ask is whether the law mandates landlords to supply 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. But it will help you to 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 bear in mind 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, 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 Prime can help! Contact us online or call our office to speak with a Baltimore City property manager today.
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