Choosing Appliances For Your Rental Property

1.14.19

Choosing Appliances For Your Rental Property

Setting up the interior of a rental property can be very stressful and challenging, given that there are so many expenses that factor into this career. As a landlord, you should be looking to save money wherever you can, while simultaneously seeking out investments that will grow the value of your property. This is why choosing the right appliances for your rental property is so crucial. We here at Happys Appliances Outlet have compiled some helpful tips to keep in mind when picking out appliances for your rental property.

Consider a Coin Washer

A smart way to quickly reap a return on your appliance investments is to install a coin-operated washer and dryer set. These are especially useful in properties with multiple tenants and a shared laundry room. Requiring tenants to pay a small fee each time they do laundry will prevent them from over-using the appliances and makes sure everyone pays their fair share of the building’s energy that is required to use them. They also provide a nice safeguard on your investment in case your tenants abuse and damage them.

Avoid Used Appliances

While opting for used appliances may be tempting financially, you’re going to want to purchase new appliances in this situation. You should want to be able to guarantee quality items for your tenants, and the manufacturer’s warranty that comes with brand new appliances will allow you to do just that. They will also last much longer than appliances that have already been used, ensuring that you won’t have to buy new ones again any time soon. Not to mention, scratch and dent stores such as Happys offer brand new appliances with minor cosmetic damage at comparable prices to most used appliances. This one is a no brainer!

Choose Energy Star Appliances

Another helpful method for saving money in the appliance buying process is to seek out Energy Star certified items. Appliances with this certification sticker use up much less energy than regular appliances, thus saving you and your tenants money on your property’s energy bill. These savings give you an opportunity to increase your rent prices by touting low utility bills. Lastly, installing Energy Star certified appliances can help you attract environmentally-minded tenants who are looking to reduce their carbon footprint.

Think About the Property Value

We’ll end on the most important thing to consider when purchasing appliances for a rental property: the value of the property itself. If you’re managing a high-end, luxurious home, you’ll want top of the line appliances to match the aesthetic. Not doing so could actually decrease the value of your property. If you’re renting out an older, economy-level apartment, you can most likely get away with purchasing cheaper appliances. Spending big money on high-end appliances isn’t likely to raise the value of your property in this scenario.