What`s a dishwasher worth to a tenant?

[Nicola]

Hi,
Just wondering what you think... Will a tenant rent or not rent a house, based on whether it or not it has a dishwasher?

If so, what would the rent differential be between two townhouses (assuming they are otherwise more or less the same) - one with and one without a dishwasher?

I`m just kind of wondering whether it makes long-term financial sense to install a dishwasher (which would involve replumbing, ripping out cupboards, etc).

What`s your opinion of portable dishwashers?

Thanks,
Nicola

 

[terri]

QUOTE (Nicola @ Jul 13 2009, 01:51 AM) Hi,
Just wondering what you think... Will a tenant rent or not rent a house, based on whether it or not it has a dishwasher?

If so, what would the rent differential be between two townhouses (assuming they are otherwise more or less the same) - one with and one without a dishwasher?

I`m just kind of wondering whether it makes long-term financial sense to install a dishwasher (which would involve replumbing, ripping out cupboards, etc).

What`s your opinion of portable dishwashers?

Thanks,
Nicola

hi Nicola

Dishwashers, washer/dryers and built in microwaves all come standard in my apts, so I can`t tell you specifically how much extra I get in one apt over another for having a dishwasher, but I do feel that it`s important to the type of renter that I want to attract.

You can pick up a basic white dishwasher for less than $300, so say installation, plumbing, rejigging cabinetry costs you another $100 ( you don`t need to hire a certified plumber for this) that`s $400. Say you get an extra $30-$50/mo than you were getting before then it would pay itself off in 8-14 months.

That beings said, I can`t tell you how much extra a dishwasher will get you in your particular neighbourhood. You need to look at the tenant target market that you are trying to attract and what their lifestyle and needs are:

If you are trying to rent to students then perhaps their priority is location or price over conveniences like dishwashers and ensuite laundry.

If your tenant target market is families or professionals then I would say that they would probably be willing to pay more for a dishwasher, or maybe they wouldn`t even consider renting an apt without one. It may be worth more than just $XX dollars a month, it may make the apt more desirable therefore less vacancy.

If you do decide to put in a dishwasher I would go built in as apposed to portable, but then I don`t know what your kitchen configuration is like and how difficult it would be to install.

hope this helps,

Terri

 

[housingrental]

Hi Nicola
Many landlords hate dishwasher
More plumbing issues, more maintenance issues, water issues.. etc..
I`m a big fan of dishwashers
I`ve put in many dishwashers into units that don`t have them and rented many similiar new units that have and don`t have.
My thoughts are -
1) A dishwasher makes a unit much easier to rent. Less viewings, more applicants.
2) A dishwasher get higher rent. Payback time vs increase in rent has been less than 2 years, often less than 1.
3) Units tend to stay cleaner - easier to re-rent when tenants leave.

 

[Nicola]

Thanks Terri and Adam,

Actually, the way the kitchen is laid out, installing a built-in dishwasher will be a bit difficult I think. It will also reduce the already-limited cupboard space.

The easiest choice would be a portable, but I`m not sure what tenants think of these. Any ideas?

 

[housingrental]

I`ve had them before
Better than nothing, just make sure there`s sufficient space to walk

My personal experience had been lots of issues with it but I haven`t had enough of them so no idea if I`ve just had bad luck or there more prone to issues than a built in.