How to keep the appliances?

Question

I have a renter who (I have a feeling) is about to skip town.  The guy I bought the house from put the appliances in there and I'd like to keep them.

I just have a odd feeling about theft....this might be a dumb question...but how can I keep the appliances in the house and assure the renters don't steal them?

B R · Answer

Mike:

Thanks for your advice regarding NTN.  Now my concern is what happens when the cheap stove/fridge breaks down?  Does your lease state that the items are there only for the convenience of the tenant and you are not responsible for repairs?  We are remodeling a foreclosed house which will look real nice when it's done, so new appliances would add to the appeal; however, I need to keep reminding myself that I am not the one who'll be living there.  This is our first rental property, if you couldn't tell.

Thanks again,
Becky in OH

Michael Rossi · Answer

Grand Wally,

I doubt that he will steal the appliances provided he knows that you are claiming to own them.  Even if he does, go to the used appliance store and it won't cost you much to replace them.  I usually pay about $65 for stoves and $80 for refrigerators.  With a little effort, you could probably do even better than that.

Good Luck,

Mike

Richard F. · Answer

Were the appliances identified as "personal property" on your purchase agreement? Does your tenant's "move-in" condition form include them? Do you have photos of the condition of the property at the time of purchase and/or tenant move in?

If the answer to one or more of these is yes, you should have adequate proof to simply include replacement on the security deposit reconciliation.

Frank Adams · Answer

In my experience thieves are lazier than most of us. If it involves heavy lifting, they're against it. Here's the ways I dealt with your fear.

1. I only supplied "built-in" appliances. Cooktops and built in ovens, garbage disposals and dishwashers.

2. Make sure you have a "sufficient" security deposit. I'm always suprised to see landlords make the deposit equal to a month's rent. Rent $800, deposit $800, when the lease ends June 30th and June 1 rolls around the tenant calls and says he's moving, and "

3. Don't rent to thieves.

4. Make sure you've got their Social Security number, and a clause in your lease that mentions "liquidated damages", which is legalese for, "we both agree that the refrigerator is worth $3,000, etc". That way he's already agreed to his UNEARNED INCOME in the event of theft and that you've informed him that you will REPORT ALL INCOME TO THE IRS.

5. Don't rent to thieves.

6. Don't rent to thieves.

all cash