- Real Estate Broker
- 3412 S. Harlem Avenue Riverside, IL 60546
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Keep or remove washer/dryer in unit
Hello everyone!
When my wife and I closed on our new fourplex we knew there were several issues we had to take care of with the township. One of them is that the plumbing for the in unit washers may not be vented properly. I am getting this checked out by a plumber friend this week, but I still am debating pulling the washers out and replacing them with a coin-op to offset the water bill (paid by me). I also could just use this as an excuse and remove them altogether and not have laundry in the building.
The building is located in a solid C+ working class area where many comparable units don't have laundry in unit. The rents are all extremely low, but I may be able to raise them to top of market if I do keep the laundry. Current rents range from 550-695, and the market appears to be between 750-800/ What do you all think?Should I keep them in unit, replace with one coin-op, or remove them completely?
Most Popular Reply
Tenants LOVE... LOVE (I can't use bigger font or I would) in unit washer and dryer. I had a tenant pay to put a washer and dryer in their apartment, fully vented, new lines, etc at their expense.
I would guess the washer and dryer in unit should be worth at least another $50 in rent in the area, honestly that is a premium feature. Now if you have crazy expensive water bills, the increased rent may not be worth it.
Go with your plumber and have a real conversation about the appliances. If the verdict is that they are end of life, it might be time to cap the pipes and be done with them.
Where are you planning on putting the coin-op? In unit seems like an aggravating place for both you and the tenant. Do you have basement/garage space for them?