I recently purchased a duplex that has laundry hook up in both units second floor hall closet’s. The previous owner had covered the plumbing and electrical with a piece of plywood so tenants could only use space as a closet, being forced to do their laundry elsewhere. He said he didn’t want the added expense of purchasing and maintaining 2 stacked washer/dryers nor have to worry about water leaking through the ceiling. I’m thinking I should remove plywood and add used stacked washer/dryers in both units.
Reasons being:
This duplex is surrounded by apartment buildings and adding washer/dryer in each unit will make it more appealing to potential tenants. Less time sitting vacant= More $
Higher rents due to having their on private laundry. Higher rents = forced appreciation $$
Possibly a better tenant pool because the 1100 sq ft units feel more like house than an apartment, thus tenants possibly wanting to stay longer?
Your thoughts are greatly appreciated to have or have not.
You won’t get more money with a washer/dryer in the apartment. The tenant pool isn’t better (I’ve had plenty of high quality tenants without one in the apartment) Electric dryers use a lot power. They break down ($100 a service call to fix) and I’ve had drywall collapse from the ceiling and damage below because a hose connection came loose.
Same goes with automatic dishwashers.
If you’re so keen on them having a washer/dryer, put a used coin operated one in the basement.
Although davewindsor’s advice MAY be accurate, it really depends on the area and level of tenant. All of my rentals include washer and dryer generally because that is what people in this area expect when they’re paying $1500/month and more. That being said, ALL of my washers and dryers were purchased used from craigslist for less than $150 and I do my own repairs.
If your competition has washer/dryers and you don’t it will be tougher for you to find good tenants. If they don’t and your do, it may be a little easier to attract tenants…
Know your market and act accordingly. If the apartments surrounding you have coin laundries davewindsor’s suggestion to put a coin operated washer/dryer in the basement may make good sense.
Just think, would YOU right now today rent an apartment and then carry all your dirty laundry to a laundromat? On your valuable day off? Pay $$ to wash your clothes in other people’s dirty machines?
If you want to have high-quality working tenants give them what they need. The stacked washers/dryers that we put in 7 years ago are still functioning great. I try to buy used, but often quality used isn’t available here in stacking. New is worth the investment.
Always try to upgrade your units and upgrade your tenant pool. Let other landlords deal with low-quality tenants–the kind who don’t care if there is even a washer and dryer.
I believe in best product best price (if you happen to be in Texas yes I am a member of Lifestyles Unlimited), and it includes doing things others aren’t,I don’t happen to provide washers/dryers, but if it helped me lease I would,I rehab the properties to ‘flip’ quality without granite, etc,but a nice house in a nice area that I wouldn’t mind living in,and i screen the heck out of tenants,the property I just leased I ended up leasing to the third family that filled out an application,but guess what, I had others if they hadn’t been approved,
I put in washers, dryers and dishwashers in all my units.
I generally pay $100 for a washer or dryer, and $50 for a dishwasher.
I put in the drain pans to catch leaks if there is a ceiling below.
I haven’t been doing this long, but I feel my appliances give me great ROI.
I have a craigslist guy that will deliver, install and remove the old appliance for washers dryers and fridges.
The appliances do break every now and then, but they are cheap.