Potential Income: Appliance Rental?

[Zac P.]

Through managing many properties, I continually see my tenants turn to renting or lease to own appliances. Not that there is anything wrong with it, but the tenants are basically getting ripped off and end up paying $2,000 for a $400 washer when all is said and done. I figured that I could do the same thing, but offer them a much lower cost and still pick up a nice income. Has anyone ever done this before? If so, how have you structured this?

[Dawn Anastasi]

I went with 3 options for the recent duplex:

- Option 1 = base rent, no appliances

- Option 2 = base rent + $25, stove and refrigerator

- Option 3 = base rent + $50, stove, refrigerator, W/D

One unit wanted option 1 and the other unit went with option 3.