Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
Recently I was reading something that suggested putting in crown molding and finer touches to a rental property. The purpose to attract quality tenants. The idea on the surface sounds good, we all want to attract quality tenants.
I suppose there are upscale rentals that this might make a lot of sense in.
My experience has been that many of these details are not that important to tenants. I'm sure that there are some tenants out there that will treat the rental like it was there home, but I haven't found many of these over the years.
I'm curious about other landlords experiences. Do you provide nice appliances for your rentals? Do you put in crown molding or other finer touches?
I work at providing a nice place at reasonable cost. There are many things that I don't put into rentals.
So what are your experiences? What would you consider when rehabbing a rental property?
I certainly like to ensure that my properties are completely move in ready -- all appliances including washer/dryer, mini-blinds, etc -- as these things are functional differences between my house and others. Tenants like to know that it wont cost them additional time/effort/cost to get settled into my place, which differentiates it from my competitors.
That said, any non-functional upgrades -- like crown molding, upgraded appliances, etc -- are likely to lost on the tenant.
For example, a washer/dryer is going to make my house 10x more attractive than a similar one without WD. But an upgraded WD isn't really going to add any incremental value.
So, if you're considering putting money in, my opinion is to put it into functional items, not purely aesthetic ones like molding...
In second bedrooms I usually take out the clothes bar and get one of those rubbermaid wire closet solutions that brings in shelves and double the hanging space. That also seems to be a hit for little money.
This is a great suggestion, I will do this in my next rental! Thanks.
In second bedrooms I usually take out the clothes bar and get one of those rubbermaid wire closet solutions that brings in shelves and double the hanging space. That also seems to be a hit for little money.
This is a great suggestion, I will do this in my next rental! Thanks.
I was doing this as well for awhile, I starting questioning it when I had some tenants actually removing these and leaving big holes in the wall. I think most tenants appreciate it and consider it plus though.
I remember some talking about removing garbage disposers from their units. I have actually had good luck with these and provide them in most of the rentals. I don't provide washer / dryers if they are provided in my state it is necessary to also repair them. It is amazing how often it is necessary to fix or replace these appliances.
I removed a hot tub that one rental had. I didn't want the liability and it can be a bear to clean when you get tenants that fail to clean it at all.
I was doing this as well for awhile, I starting questioning it when I had some tenants actually removing these and leaving big holes in the wall. I think most tenants appreciate it and consider it plus though.
I remember some talking about removing garbage disposers from their units. I have actually had good luck with these and provide them in most of the rentals. I don't provide washer / dryers if they are provided in my state it is necessary to also repair them. It is amazing how often it is necessary to fix or replace these appliances.
I removed a hot tub that one rental had. I didn't want the liability and it can be a bear to clean when you get tenants that fail to clean it at all.
I had a problem with tenants overloading the single bar/shelf and it pulling from the wall. Changing to the shelving solution made sure they spaced out their stuff. Haven't had anyone remove them yet but I will keep an eye out when I do my regular inspections.
One tenant seems to keep jamming up her disposal. I 'fixed' that by getting her an allen key and keeping it on the unit with a rubber band. I showed her how to use it and haven't had to worry since. Also told her to run ice through the unit once a month to keep the blades sharp.
Two of my three units have a washer/dryer in them. One came with commercial units which have held up especially well and have attracted the family types. The one unit that does not have a w/d hookup has a laundry room on the same floor.
Hot tubs I can see as a liability, unless it was a high-end rental.
I forgot to mention one of my main methods of sprucing up a rental. While I usually roll the place in a soft color with bright white trim. I switch out all the electrical sockets and light switches from the pole type to the one piece with unbreakable strike plates also in white. I've had every prospective tenant notice that as well as it gives each room a new look. Thats also a very cheap way to modernize the rooms as most of them had the almond old style sockets and plates from the 80's.
Does anyone include AC filters in their rentals or do you rely on the tenant to provide their own?
For one tenant and a newer AC unit I provided 4 3 month filters which was enough for her lease term. Before that she was slow to change the filters and I had the coils ice up once or twice. Spending $10 to get the filters seem to have changed her behavior and made her a little happier about these little touches. She's one of my long term candidates now.
I go into the units to replace filters. I also make sure that the furnace ducts are vacuumed on schedule and the yearly service check is done on the furnaces.
Regarding fire extinguishers. One area where I had a property required that the extinguisher be rated 3A40BC (not a small kitchen sized extinguisher). So I now just use that one size everywhere (costs $35 to $40 for 3A40BC, vs ~$20 for smaller one that may not have enough stuff to put out a kitchen fire). For the $15 to $20 difference, it's hard to justify skimping on the safety matters.
Their is a local appliance store that sells used appliances. All high quality. There prices include 2 year parts and labor.
I furnished my own house (over under fridge, 5 cooktop stove, dishwasher, washer and dryer) for $2000. Those were higher end appliances in excellent shape. In fact I don't think I'll buy new again if I can avoid it.
I can supply all the appliances for my rentals for around $1200. I do leave washer and dryers out but offer those with some negotiating. (usually rent increases). Just leave a sign where the hookups are that say washer and dryer can be provided upon request.
Does it make a difference. My sample size is to small to tell.
Their is a local appliance store that sells used appliances. All high quality. There prices include 2 year parts and labor.
I furnished my own house (over under fridge, 5 cooktop stove, dishwasher, washer and dryer) for $2000. Those were higher end appliances in excellent shape. In fact I don't think I'll buy new again if I can avoid it.
I can supply all the appliances for my rentals for around $1200. I do leave washer and dryers out but offer those with some negotiating. (usually rent increases). Just leave a sign where the hookups are that say washer and dryer can be provided upon request.
Does it make a difference. My sample size is to small to tell.
This is definitely an approach I'll look into taking. I've had to replace two dishwashers this year and bought them open box and saved some cash that way.
If I pick up any units that need appliances from now on I was planning on taking them from my place and replacing them with the used as you did. I eventually plan on moving on from my current residence and renting it out so used appliances won't be out of place.
Do you put any emphasis on matching brands and/or finishes for sets of appliances or is price the main driving factor?
Is anyone buying used furnaces, heat pumps, and such from large heating & air companies? So many folks are upgrading to high-efficiency at their residences these days due to the available tax credits, that lots of quality used HVAC equipment would seem to be out there.
I recently was considering upgrading my heat pump and asked the HVAC contractor what they do with older stuff that still has quite a bit of life, and he said they sold them for a small amount to a good-sized rental property firm in our area.
Do you put any emphasis on matching brands and/or finishes for sets of appliances or is price the main driving factor?
Matching finishes is my main concern (rents aren't cheap in my units, so need to look good). Sometimes, in order to match finish it's necessary to stay in the same brand (if you get fake stainless for example, from one brand to the next variations in finish are noticeable).
Comes down to Marginal Benifit over Marginal Cost.
Here around downtown metro Seattle renters demand the top end finishes and they do not want to pay the rent price for them. They think they are entitled to stainless steel, granite etc..at whatever rent price they look for. I think this is due to shows on HGTV. I try to meet in the middle with a nice, clean, and big rental unit.
When I rented my last newly updated rental several people complained because I did not have a new front load washer dryer, I only had a newer basic washer dryer. I told them where they could find a 400sqft smaller rental with what they were looking for for $400/month more + parking fee.
Can you elaborate on what this is? Which type of plate or provide a link to a picture of it? I would like to do the same, make it look upgraded for a small cost.