Washer and Dryer?

Question

I am in the process of rehabbing a rental house. It is in a low income area, rent should be around $650/month. I'm trying to keep all cost to a minimum. There is a dryer hookup in the kitchen and a washer hookup in the basement. Would putting a washer and dryer in be worth the cost?

Aly W. · Answer

I have 2 low income rentals, and the tenants provided their own washer/dryer. The hookups were already there. They pay their own water and sewer bill.

I provided nice, used refrigerators and stoves in both, and made sure the kitchens were the nicest rooms in the house. Almost every potential tenant commented on how nice the kitchens were. High end or low end, everyone loves a nice kitchen  :D

Tony D'Anzica. · Answer

I am a property manager and I never include a washer/dryer in the rental unless I separately charge a monthly washer/dryer fee to cover the water bills.  If tenants have children, you may be surprised at how easily a $35 quarterly water bill can turn into a $135 bill.  Typically, depending on the size of the household, number of units in the building, and the cost of water use, I charge between $10-25/month extra for washer/dryer hook-up.

Tony D'Anzica, JD
DynaMax Realty, Inc.
Property Manager

Jon Holdman · Answer

W/D hookups are pretty essential in my area for SFRs.  Most callers ask about that, so I think it would be that much harder to rent without them.   Be sure they pay the water bill, though.  I've looked at more than one house that had two or three sets of W/D hookups and two water heaters.  Guess what sort of business they were running.

Will Barnard · Answer

In my experience, a fridge is more essential to offer in your rental than the W&D.
The less equipment you own in the rental, the less expense you have in repairs. Keep it to a minimum when possible.

In the event that you locate a very qualified and potential great tenant and you can keep them or even get a higher rate with a W&D, then do so, but only in these special circumstances.

William Brynildsen · Answer

Thanks for the replies. I wondered if washer/dryer would bring more interested tenants and/or more rent. Also, what about letting them bring their own w/d?

Jon Holdman · Answer

My lease says the appliances are for the tenants use if they wish and that I bear no responsibility for them.  Realistically, if the fridge or range breaks, I'd likely replace them.  But not my problem if they break.

Around here, washers and dryers are sometimes included.  The REO I just bought came with a dryer.  At some point, I'll see if it works.  If it does, guess what?  The property comes with a dryer.  That's easier than getting rid of it.

Eric Wang · Answer

I would only consider for W&D for multi units.  If it breaks down, you would have to take care of it.

Harrison Painter · Answer

In my experience it would not.

I would not worry about the separation, just the fact you have a W&D hookup should be enough in lower income neighborhoods.

Hope that helps!

- Harrison