I am renting out my 4 bedroom san diego house, should I include the washer dryer and refrigerator?
the current tenants said they will leave their washer-dryer-refrigerator for $1000.
All of my rentals come with a working refridgerator. I get a large, no frills Roper for $300 brand new from Lowes (hint: Lowes gives a 10% military discount if you ask – on ANYTHING – not much but it pays the tax). If the tenants want a washer/dryer, it’s extra. I can get a washer/dryer at the rental place for $50 a month, so the tenants will pay $75 from me or $50 directly from the rental place. Make sure your lease spells out ownership, cleanliness, condition, etc.
At this rate, it would take just over 9 months to pay for the appliances…($1000 less 300 for the fridge = 700 / $75 per month extra rent)…do the math and decide what works for you…
My 2 cents…
Keith
yes, its a good idea to include them, but $1k for that set is poor deal. New, very nice refrig $400 tops at Lowes; used >5 yrs old should be $200 or so. washer/dryer almost new on the used market go for about $500 (for the pair) (e.g. 1 yr old; high end stuff). Brand new, entry grade stuff can be bought for $600/pr.
If their appliances are 2 yr old or less and mid-grade, I would offer them $600 (maybe $750 tops since it low hassle for you). Otherwise, I head to Lowes?HD this weekend as they are having 0% interest for 6/12months on $300 purchases and more if you put it on their credit card. I like to use their money for free ;D and then pay it off out of cash flow.
I only include a stove. If there is one on the property when I buy it, I have it checked out and then exclude any repairs in my lease. “It’s there for their convenience.” If it’s been stolen from my newly purchased property (the norm), I buy a new one at Lowe’s or Home Depot, $300 max (watch the sales). Then you’ve got a year warranty with it.
I may be a bit meaner than you all, I point my tenants to the local appliance rental stores should they ask if a washer/dryer or fridge comes with the property. I’m not in the appliance rental business. I even have the refrigerator (if any) left in the house hauled off – usually your contractor will take it away for free (they give them to their workers). I just don’t want the hassle. If it’s there, your tenants will expect you to take care of it for them. I don’t want to deal with it, appliance repair is expensive – even if the repair person is honest. My lease clearly spells out that I’m not responsible for any appliance repair.
So far, if it’s cost me a tenant, I don’t care – others have moved into my properties who are OK with it.
Tami
The Home Depot, Lowes, Best Buy around me have great closeout deals every so ofter. You can usally get a floor model for half off. I have bought these and I was able to get free shipping. It’s almost like they are giving them to you!