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Should You Include Appliances in Your Saint Louis Rental Home?

Saint Louis Couple Doing LaundryIf you are arranging a Saint Louis rental home in order to be available for your first tenants, or even if you’ve been renting for a while, you may be questioning if you should include appliances in your rental property. It’s a challenging question because there is no clear yes or no answer to it. Rather, deciding to include appliances in your rental home should be determined by your location, your target renter, and the feasibility of doing so. By examining these things and considering the benefits and drawbacks of putting appliances in your rental, you can more efficiently decide if this is fit for you.

Consider the Competition

When weighing whether or not to include appliances in your rental home, it’s essential to comprehend how your rental property compares to others in your area. If comparable rental properties near yours all include appliances and yours doesn’t, that will place you at a clear disadvantage. This is especially the case if those properties are renting at your desired rate. However, if most rentals in your area do not include appliances, there is much less reason to do so. By knowing your local rental market, you can more positively choose whether appliances make sense for your rental home.

Consider Tenant Appeal

Although rental property owners are not compelled by law to include appliances in their rental homes, there are multiple valid reasons to do so anyway. Perhaps the essential reason to place appliances in your rental is to build a more effective attraction for your target renters. For illustration, assume your rental is found in a college town, adjacent to an urban center, or a popular retirement spot. In that case, there are seemingly high numbers of young adults or retirees looking to rent in your area.

For college students, young professionals, and often retired adults, having appliances stored in a rental might be not just needed but necessary. Young adult renters are far less likely to own or to be able to own appliances and so often need a rental home that includes them. Older adults may be trying to downsize after retirement and don’t want the hassle of appliance ownership and maintenance. Either way, by including appliances in your rental homes, you can better appeal to these renter demographics.

Consider the Benefits

Beyond tenant appeal, there are other explanations why including appliances in your rental property might seem right for you. For instance, rental property owners who offer appliances can usually impose a higher rent than those who don’t. Not only can you recoup the cost of the appliances over the long term, but once those appliances are paid for, that extra rent will continue to supply your cash flows with a nice boost.

Another big benefit of including appliances in your rental home is that it dramatically reduces the chance of wall and floor damage during move-in and move-out. Transferring bulky appliances in and out of a rental home is complex. Unless done by experienced professionals, transferring poses the risk of producing damage to floors, walls, and even doors and trim. By leaving the appliances in one spot, you avoid this possible damage and make the move-in and move-out process much more manageable for both you and your tenant.

Potential Drawbacks

Unquestionably, including appliances isn’t suitable for everyone. Some landlords don’t want the responsibility of maintenance and repair for appliances, which can make sense in some cases. For some, the cost of buying appliances may be prohibitive. This is notably true if you are having cash flow issues or your budget is tight. In other cases, it may simply not be suitable to offer good quality appliances to tenants, and so the more desirable choice is to let tenants obtain their own.

While it’s clear that the judgment to provide appliances in your rental home or not depends on many things, it is ultimately up to you to make the decision that works best for your properties. At times, it can be helpful to have an expert Saint Louis property manager on your side to help you make decisions like these. If you’d like more advice and guidance on how to make your rental property as profitable as it can be, give Real Property Management Specialist a call! Our experts can help you set up a rental house that tenants will love while working to keep your monthly expenses as low as possible.

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