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Updated over 12 years ago on . Most recent reply
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Provide laundry machines or not?
My husband and I bought a fixer upper duplex (both sides) and it's been rough. We've just about finished with one side and would like to get it rented so we can at least get some sort of income while we fix up the other side. The problem we're having is that we would like to provide a washer and dryer for our tenant, but we can only fit a 24" stack-able unit in the 2bd/1ba unit. Apparently those are really hard to find.
My question is: I'm pretty sure we can get $850 for the unit with a W/D. Since it seems the cheapest one we can find is about $1000 new (can't seem to find a used one for much less), should we go ahead and install it, or should we reduce the rent? How much should we reduce the rent?
We're first time landlords and this has always been a dream of mine. I'd appreciate any feedback. Thanks!!
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Jeanette J. If only a stackable washer/dryer can fit, I would go ahead and buy one for the unit. The reason is because most people do not have stackables and they would have to buy one. It could be a turnoff especially if they already have a regular washer and dryer. Also charge a fee for each application. I let them know that I don't make a proft and it's strictly for running a background and credit check. I also give them the option of doing their own through biggerpockets smartmove. Most people prefer that because they don't have to give me their SSN.