When getting a home ready to rent, I tend to ask myself if it is in a condition that I personally could live in it. If not, I tweak the things that would make it a nice home for someone. It;s a key to success for me and helps make the home truly “rent ready”.
Often the biggest thing a landlord overlooks or cuts corners on are appliances. My best advice to any landlord – don’t be cheap on items that get used ALL the time – appliances, door locks, garage openers, etc. Repairing some of these items often can cost more time and money, than if you just installed good ones from the beginning.
Common mistakes landlords make with appliances:
Providing old, secondhand stoves, fridges, dishwasher, etc. for tenants. You might save money upfront, but these are expensive to repair. Usually it's cheaper to install newer ones from the get go.
Having the mindset that you do not have to repair appliances. Repairs are a part of being in the landlord business – doesn’t matter if the AC breaks, the roof leaks or the washer stops working – landlords are responsible for repairs.
Appliances that cause the biggest problem for landlords? Washers and dryers. It’s a great leasing point for tenants but expensive to repair. So if you do not want to repair it, remove it from the home.
Thinking that items such as water purifiers/softener, garage door openers, etc., are just a “bonus” for tenants. Although perks and add to the value, these items are still a part of the home and it is not the tenant responsibility to maintain and repair, unless they broke it from misuse/neglect or written in the lease.
Can you exclude these items for repair in a lease? Sure you can. But keep in mind, doing this leads to one thing: vacancy. If someone wants to repair everything they would be a homeowner, not a tenant. And what it more expensive – repair or replacing a fridge or no rental income for a month or longer?
This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .