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Updated almost 4 years ago,
How important are dishwashers and laundry?
Good morning. I asked this in the Cleveland forum because I know the answer is somewhat market specific and that's where we're currently looking to invest. But I wanted to ask here as well to see what other investors think.
How important are things like dishwashers and in-unit washer/dryer for a Class C+ neighborhood, 2 bedroom rental unit? We're looking for a second investment property and being rather picky because we're out of state so turnover costs paid to the property manager can really kill a deal. We want a unit where the tenants will stay awhile and not get annoyed at having no dishwasher or no laundry. We also don't have a ton of money to invest so each property has to be a good one.
Do you find these things really don't matter much when it comes to retaining tenants? What do you find are the most important features for keeping tenants? Overall square footage? 2 full baths vs 1? Kitchen storage space? Garage/carport? Fenced yards?
A market like Cleveland (or similar) has 100's of properties so the more features I can add to my list to rule properties in or out will help.
Thanks