I have a question for the community. Do you usually rent out your properties with included refrigerator, or if the property does not have one, do you buy it for the tenants? There's a property I'm looking at which does not have a refrigerator, and I'm wondering if I should buy one prior to closing so that I can rent it out faster, or should I allow the tenants to buy their own? And in the second case, do you all think that it may turn off some potential tenants due to the lack of the fridge?
Hi Alex, while provision of a refrigerator is not required for a rental, the decision to do so depends on your market, price of your rental and what target tenants you're aiming for. I would say in general equipping your rental with a refrigerator makes it simpler for renters, would likely result in quicker occupancy, overall lower carrying costs and increases your rental value.
In my experience, it is generally easier to just buy the fridge for the tenant. You can also put it in the lease - "the fridge is yours to use, but you are responsible for paying for repairs, or I am removing it before you move in"
Not buying a fridge might result in difficulty getting the place rented, which is a larger issue than buying a fridge in my opinion.
For us it is a local thing. In some areas it is expected that the landlord will provide appliances and in other parts of the same city it is expected the tenants bring their own.
Agree with @Scott M. It depends on the area. If you're competing with other rentals on the market that provides fridge and you're trying to get the same rent rate, then it's good to provide a fridge. Same with other amenities.
I do not provide a fridge or W/D. I don’t care whether others do or not in my area, my properties stand out in quality and cleanliness. That’s what matters.
I think you should always provide all kitchen appliances. There are several issues if you don't that could come up. Are all tenants going to get white glove delivery? No. Will some buy a fridge on Craigslist and try to put it into your newly renovated apartment on their own, scratching the walls, chipping the paint, dragging it through the common areas, only to find out they got the wrong size and they just leave it and/or call you? Yes.
Hi Alex, while provision of a refrigerator is not required for a rental, the decision to do so depends on your market, price of your rental and what target tenants you're aiming for. I would say in general equipping your rental with a refrigerator makes it simpler for renters, would likely result in quicker occupancy, overall lower carrying costs and increases your rental value.