Problems Renting w/o laundry hookups

Rothschild, Wisconsin
General Real Estate Investing
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Problems Renting w/o laundry hookups

Colin GraveenPro Member
New to Real Estate · WI · Member since 2018 · 18 posts · 5 votes

I am speaking to a relative about possibly purchasing their rental property. It's a 2 bed/1 bath and approximately 700 sq ft. I learned that the SFH does not have hookups for a washer/dryer and wondering how much of an effect this will have on renting it. After a quick search, there are 2 laundromats within 10 minutes of the property, does this matter? We are in the very early stages of conversation so I have not been able to get a quote for installing hookups. At this point, simply curious if other investors have experienced problems with rentals due to not having hookups. Thank you!

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Jules Aton
MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
3w

Put a washer and dryer in the unit.

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  • Jules Aton
    MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
    3w

    Put a washer and dryer in the unit.

    1Reply
  • James Mc Ree
    Rental Property Investor · Malvern, PA · Member since 2016 · 1k+ posts · 935 votes
    3w

    It will be a negative impact if your market normally offers the hookups and/or the appliances.

    The biggest impact I see is you will have fewer prospects considering the property. Most of those people won't contact you at all. Their profile is tenants with landlords who provide the appliances and tenants who own their own appliances for provided hookups. What impact is that like for them? I suggest the best way to learn is to give it a try. Stop using your own washer and dryer and rely solely on a laundromat about 10 minutes away to see what it's like for a few months. That is an easy way to get the best insights into the impact.

    Think of it another way. You are spending $100k (or whatever) to buy this property. The cost of the hookups is some basic plumbing work for supplies and drains and a new circuit from the circuit breaker box to the appliances if you go with an electric dryer hookup. That should be about $1,000 - $1,500 at most, but I don't know prices in your area. For another $1,000 or so, you can have a washer and a dryer there. This assumes the installation is straightforward. So, for about 2% of your $100k investment, the whole concern goes away. Is it worth it?

    Here's a trailing thought. If you wait an extra couple months for a tenant who wants to drive 10 minutes to the laundromat and wait for their laundry or make another round trip, how much rent did you lose compared to the installation cost?

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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 403 posts · 162 votes
    3w
    Quote from @Colin Graveen:

    I am speaking to a relative about possibly purchasing their rental property. It's a 2 bed/1 bath and approximately 700 sq ft. I learned that the SFH does not have hookups for a washer/dryer and wondering how much of an effect this will have on renting it. After a quick search, there are 2 laundromats within 10 minutes of the property, does this matter? We are in the very early stages of conversation so I have not been able to get a quote for installing hookups. At this point, simply curious if other investors have experienced problems with rentals due to not having hookups. Thank you!

    @Colin Graveen, from looking at rental properties over the years, I would treat the missing laundry as part of the purchase decision, not something to figure out after you own it. Before agreeing on a price, I would find out whether hookups can actually be added, what the full cost would be, and whether adding them would take away useful space in a 700 sq. ft. house. I would also compare similar 2-bedroom rentals nearby and see how many offer laundry and what they are actually renting for.


    I’ve seen buyers overlook a small missing feature because the property otherwise looks like a good deal, but that feature can affect both how quickly it rents and what tenants are willing to pay. If laundry is expected in that area, I would want the purchase price to reflect the cost of fixing that issue. If most comparable rentals also do not have it, then it may matter much less. I would make that comparison before deciding whether the property itself is a good buy.

    like that you are asking these questions this early instead of waiting until after the purchase. I’d be glad to stay connected and see what you decide to do with it.

    [email protected]240-266-0291
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  • David Krulac
    Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
    3w

    @Colin Graveen We have one place that is very small, for a 1 person occupancy, it has no hookups.  Every other property we have has either hook ups or washer dryer machines.  We do have in the lease that washer and dryer are for convience only and will not be repaired or replaced, but we will remove at tenants request.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    3w

    Recommend installing hookups, but be sure what type of W/D will fit.

    Standard size?

    Newer fancy models?
    Stacked?

    Supplying W/D depends on the property Class and competition:

    Class A - tenants typically expect

    Class B - tenants prefer

    Class C - tenants would like, but they often trash them

    Class D - tenants will steal them!

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
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