The Best Appliances to Have in Rental Units
Upgrading appliances in a rental property is one way for property managers to command higher rent and attract high-end tenants. These appliances, when safe and reliable, add great value to your rentals, which eventually translates into increased income over time.
Besides enhancing value, appliances are also tax-deductible. Under Section 179 of the U.S. tax law, property managers are mandated to deduct appliances (as of 2018) – another reason to upgrade to better appliances. Before you upgrade appliances in a rental unit, we have suggested some tips on which appliances are most ideal and safest to use for your properties.
Electric Stove or Gas Stove?
Before deciding on which stove to use for your property, a property manager should first consider the risks and the long-term costs of each. Some factors to consider are the cooking range, safety, and prices of each type of stove.
Range. Tenants who cook daily can hardly tell the difference between these two stoves. However, an interesting insight: a chef would prefer a gas stove over an electric stove, while a baker would choose the opposite.
Safety. There are certainly different safety hazards associated with using either of these stoves. By using an electric stove, a tenant could risk an electrical fire or electrocution, especially if improperly installed or under-maintained. Alternatively, using a gas stove puts a tenant at risk of carbon monoxide poisoning.
Price. Gas stoves are a more expensive option. However, natural gas is more affordable in the long run. Consider these factors before choosing the right stove for your property.
Faux Stainless Steel Refrigerator or Traditional Stainless Steel Refrigerator?
Having a white refrigerator in your rental property is good, but not good enough for tenants who like to see stainless steel refrigerators in their living space.
Traditional stainless steel refrigerators often complement other appliances in a rental property. However, they are unfortunately not more stain-resistant than faux stainless steel refrigerators.
While it’s easy to invest in a new refrigerator, it's important to consider whether there would be enough space in the rental unit to swing it open and if the unit’s dimensions of the kitchen can allow the main compartment and freezer to freely open.
Dishwashers
Like stoves, dishwashers add considerable value to rental properties. Before buying one, property managers need to consider a few things:
Garbage disposal. For the long-term maintenance of a dishwasher, it's important to know whether a dishwasher has self-cleaning filters or requires manual cleaning.
Energy. Opt for a dishwasher with an energy star symbol on it. Your tenants are likely to save money on electricity when using it.
Capacity. Get a standard size dishwasher if your rental units have huge kitchen spaces or multiple tenants. A compact dishwasher is enough for a small kitchen, though.
To attract high-end tenants and command higher rents for your rental property, make sure to upgrade appliances that fit their needs and exceed expectations.