Provide washer/dryer or not?? Unique situation.

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Provide washer/dryer or not?? Unique situation.

Alain Perez-Majul
Investor · Indianapolis, IN · Member since 2015 · 393 posts · 116 votes

Hey guys!

Looking for some $0.02! I'm currently finishing up a rental that should be ready within a week, and I'm still undecided if I should provide a washer/dryer or not. I would normally not do so; however, the thing is that there's only a washer/dryer "closet" that will fit a stack. So, some cons that come to mind: 

1) If I don't provide it, potential tenants would be limited to bringing a front-loaded washer/dryer stack.

2) The space is pretty tight, and I'm concerned about them hooking something improperly and possibly causing damage to the home (fire, water damage, etc)

3) IF I do provide it, I see the opposite happening- alienating potential tenants that would be bringing their own (speaking from lack of experience: not sure what is commonly done or if tenants more often then not provide their own)

Am I making mountains out of mole hills and should just let tenants bring their own washer/dryer (and let them hook it up)? Are these valid concerns and justify me providing the appliances? If so, what's a reasonable rent increase for including said washer/dryer (Indianapolis/Indiana)?

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Mike Wood
Developer · New Orleans, LA · Member since 2015 · 1k+ posts · 898 votes
10y

All of my units come with washer/dryer.  Given that your unit requires a stackable washer/dryer, I think you will alienate alot more by not providing them.  Stackable units are generally more expensive, and could cause potential tenants to pass on your property, given that they would have to spend money to get washer/dryer that fit the space.

Around me, units with washer/dryer supplied get a $25-50/month premium.

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  • Vincent Crane
    Realtor · Atlanta, GA · Member since 2015 · 693 posts · 357 votes
    10y

    It depends on the quality of the unit. A and B quality units typically have washer and dryer provided in the apartment

    1Reply
  • Barbara G.
    Hartsdale, NY · Member since 2015 · 874 posts · 218 votes
    10y

    We just provide the washer dryer hook ups. There is room in a washer dryer closet but it is tight.  We tell them we will hook up the washer dryer that they provide because we have found that these company/s employees do not do it correctly and we prefer to do it ourselves.

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  • Mike Wood
    Developer · New Orleans, LA · Member since 2015 · 1k+ posts · 898 votes
    10y

    All of my units come with washer/dryer.  Given that your unit requires a stackable washer/dryer, I think you will alienate alot more by not providing them.  Stackable units are generally more expensive, and could cause potential tenants to pass on your property, given that they would have to spend money to get washer/dryer that fit the space.

    Around me, units with washer/dryer supplied get a $25-50/month premium.

    3Reply
  • Wade Sikkink
    Real Estate Investor · Lincoln, NE · Member since 2013 · 584 posts · 353 votes
    10y

    I agree that it depends on the class of unit and what kind of tenants you are trying to attract.  Providing a w/d could be a marketing tool.

    Years ago we owned a C class 4 plex.  Each unit had w/d hookups.  We decided to put a w/d in each unit to attract tenants.  I went down to the local appliance store and made them a deal on 3 sets of used w/d (there was already a set in one unit).  Because of the big buy we got a really good price.  We then upped the rent to $50 above the prevailing rent levels in the area and advertised that w/d were included.  We filled all 4 units in about 2 weeks and they stayed full.  I figured at the time that 2 months of vacancy on just one unit would have cost me as much as the w/d did.  Plus we got above market rents.

    Good luck.

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  • Jeremy Dolan
    Manhattan, NY · Member since 2015 · 109 posts · 27 votes
    10y

    I say raise the premium and include a washer/dryer. This will help you sleep at night.

    2Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    10y

    Is this a house or apartment? If it is a large house, in a good neighborhood, you can probably leave it as hookup and have the W/D design/install specified in the lease (front stackable only, to be hooked up professionally only, etc). If it is an apartment, I would definitely supply as front-load stackables are going to cost a lot more than top-load side by sides. 

    Either way, I would include language addressing the W/D in the lease - who maintains it, who repairs it, who pays for replacements, if you get more money for it/tenant pays to have it removed to storage, etc. Whatever the specifics are going to be, put it in writing. 

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  • Michael Boyer
    Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
    10y

    agree with the provide the w/d sentiment.. Nice discussion on this a week or so back, and it varies by market or location, but wear and tear and proper installation can be assured by you with them in place. The fixed stackable units are heavy, about all I have in units, so tenants could cause damage, and they might need to buy a special size to fit your space, reducing your rental pool...so having it beats a blank space in my opinion...best of luck

    1Reply
  • Alain Perez-Majul
    OP
    Investor · Indianapolis, IN · Member since 2015 · 393 posts · 116 votes
    10y

    Wow. Awesome feedback, everyone, really appreciate it.

    I apologize for not being more specific on the type of rental, I should've. I'd say it's a B/B- SFH 3/1 that rents for $750 (not including the w/d).

    From the beginning, I definitely was leaning towards the "providing them" side, and the responses have reinforced that thought. Like was mentioned, not only do I think I could sleep better at night, but finding a cheap stack set won't be difficult, and the rent increase will cover the cost in not too long. 

    I also liked the take-away of the language that should be addressed in the lease. Something I hadn't put much thought to yet, but something I'll definitely be addressing in more detail now. 

    You guys rock. Thanks for the comments and the well wishes.

    Cheers :)

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  • Franklin Romine
    Visalia-Fresno, CA · Member since 2009 · 1k+ posts · 863 votes
    10y

    In my units that have tight spaces that require a smaller or specialty type washer and dryer I will include the appliance.  I don't like too but I will for attraction.  Law of attraction.. .Tony Robbins?

    Frank

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  • Sterling WhitePro Member
    Rental Property Investor · Indianapolis, IN · Member since 2014 · 554 posts · 153 votes
    10y

    I would not include @Alain Perez-Majul there is a possibility you are over thinking things considering its your first rental. 

    This is the property in Eagledale correct? 

    If you do decide to include washer/dryer I would charge more rent, but make sure you can command higher rent. Don't want to run into higher vacancy 

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