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Updated over 3 years ago,
Appliances in Lease Agreement
I purchased a duplex as my first investment property on July 30th. The property is already rented at $750 per month per unit, which is a little low for a 3 bedroom 1 bath in south central PA. Typically a 3 bed 1 bath should be renting $800-$900 a month for a standard apartment. However the house was not well maintained by the previous landlord and the lease makes the maintenance of the stove and refrigerator the tenants responsibility, with the stipulation that the appliances must be in working order at the end of the lease. Also, the tenants are responsible for purchasing their own washing machine and dryer. Should I change the lease at the end of the term to make the maintenance of the appliances my responsibility, at least for the stove and refrigerator and raise the rent?