Washer Dryer Necessary in Washington DC?

Question

Looking to buy a 2 bedroom/1 bathroom + den rental in the Anacostia area but it does not currently have a dishwasher nor washer dryer. I am planning to install a dishwasher but I believe a washer dryer is not allowed per the condo association (I haven't been able to get an answer yet). For the DC area do you think not having a washer dryer would restrict my ability to rent, therefore making this a bad investment? These are the only issues I foresee as it comes with parking, is 5 min walk to metro and I would be making a few hundred a month in rental income after fees. I would just want to refrain from buying if its a bad investment. Any help is appreciated, thanks!

Account Closed · Answer

I'm not the best authority on this here, but including a basic washer/dryer unit could at least make you attract better applicants. You could also offer the washer/dryer to the tenant for an additional $20/mo - which saves them time/money/convenience from having to go to another place to do laundry. Just my thoughts - maybe others have different opinions.

Account Closed · Answer

Thank you both. The building does currently have a communal washer/ dryer. My problem is im pretty sure the condo board will not allow the install of a washer/dryer. In this case do you think finding a rental will NOT be an issue in this area?

Nick Pisano · Answer

Again - depends very strongly on the nature of the area, the block, and the building. "The Anacostia area" can mean a lot of things to different people, and can change on in just a block or two. It's DC - you can almost ALWAYS find someone interested in your unit if it's priced right. The question is whether the neighborhood and amenities you have will attract the quality of tenants you'd be comfortable approving. My experience is that lower priced rentals east of the river without a lot of amenities attract people with a lot of problems - low credit scores, collections, evictions/L&T court cases, serious criminal issues. And right now, I'd be pretty nervous approving someone like that for one of my units, considering if things go sideways, we have an eviction freeze with no end in sight.

Have you considered the Section 8/HCVP program? We've had generally good results filling units like the ones we're discussing (no laundry, no central AC/heat, no amenities) through these programs, because sadly enough, even the most bare bones unit is usually better than living in the shelters. Plenty of pitfalls there as well, so feel free to PM me if you want to go down this route.

Nick Pisano · Answer

I think it depends a lot on the quality of the unit and the area. Are there laundromats nearby? Do you expect your tenants to have cars to drive to one if not? What price range are you trying to rent in?

My personal experience managing a handful of lower to moderate priced units EOTR is that not having a washer/dryer at least available in the building will turn off a decent number of people - especially the kind of quality tenants you'd likely be looking for. If it's allowed, I'd strongly suggest installing one. It's a small expense relative to potential vacancy if people don't want to rent it, or the headaches you deal with from low quality tenants.