When looking to rent a home, apartment or condo, the most important thing to potential renters are the kitchen appliances. If the appliances are old and look dated, 90% of the renters will not rent the property due to this factor. In Canada, in most rental properties, you will find the owners provide a stove, refrigerator, dishwasher, washer and dryer. This is very common but it is just as important that these appliances are in 100% good working order.
If not owners, toss out your old appliances and replace them with new ones in order to maximize your rental potential in the property.
If you have recently purchased a home as a rental property, make sure you test all the appliances and ask if they are still under warranty, as this can save you money down the road. Make a list of all the appliances that are inside the house and note which ones are working or need to be repaired.
If one cannot be repaired, toss it out and purchase new appliances.
Sometimes, we tend to keep repairing them over and over again and this will cost you a lot of money if you have to do it two or three times a year.
It is time consuming, having to deal with constant repairs, not to mention the added expense every time an old appliance breaks down. Also, your tenant will become frustrated and this can add to lease breaches, bad feelings and angry confrontations. In the end, when you compare the number of times these old appliances break down and have to be repaired, you will realize that you would have been farther ahead to simply replace them with new ones.
Older model appliances are high maintenance and often the parts are not even available anymore. The expense just to have a service person come by to look at it can be the same as the replacement cost for a new one.
BEST BUY, TRAIL APPLIANCES and HOME DEPOT all have many appliance sales during the year.
Replacing your old, dated appliances to newer, modern appliances is an investment in your property as well. It will help your home rent much faster and that extra month’s rent will cover the cost of the new appliance.
So be smart and follow the DO’s and DON’T’s when you purchase new appliances.
Check them regularly, have proper maintenance on them and keep a detailed check list for every appliance.