Cleveland, OH · Member since 2016 · 17 posts · 2 votes
I've been evaluating properties in Parma for a while now. There are two observations I've made, not all the houses have 2 car garages and because many of them have small kitchens they don't all have dishwashers. My questions are:
1. For an investment property, is either one a significant hindrance to finding renters and being able to ask market rates?
2. Are there any other "deal breakers" that I need to watch out for in the area?
Rental Property Investor · Cleveland, OH · Member since 2016 · 126 posts · 71 votes
7y
@Mike M. I have a duplex in Parma and it does have a garage. I'm sure its a benefit to have but I wouldn't say its a deal breaker. The duplex next to mine has no garage, just a big asphalt lot. They seem to have tenants in there most of the time.
I don't have a dishwasher and I never had any prospective tenant ask if we provided. I think providing a washing machine and dryer was most beneficial IMO.
One deal breaker for Parma would be to double and triple check if there is any basement flooding. There are parts of Parma that flood when it rains heavy. Its not just rain water....its sewer backup. I have a coworker who lives in Parma and this has happened to her 6x in the past 8 years. There a few streets affected and I think so is my street, at least parts of it are. I'm on Tuxedo closer towards Broadview. Just be cautious of this.
From my experience renting out units, tenants would prefer to have a dishwasher but is never a big deal breaker. They worry more about a fridge and stove. I have rented out a few SFH in the Parma/ Parma Heights area and I did notice that people do like to have a garage given the weather we have in Cleveland. It is not a deal breaker but a lot of times, it will make the renters think twice before picking.
Real Estate Agent · Cleveland, OH · Member since 2017 · 11 posts · 7 votes
7y
@Mike M. When it comes to the garage situation, it only affects it really when there is no garage at all as opposed to having one. Some properties have had the garages taken down as opposed to fixing them and tenants typically don't like that. Tenants would rather have a garage but like I mentioned before, it does not turn them away, just think a little more before picking that house. As for the dishwasher, we typically do not provide appliances unless its a 5+ Unit building. Tenants usually bring their own appliance. If Appliances were left at the property, they are welcome to use it but it is their responsibility to fix them if they break or get rid of them. If you want some more detailed information feel free to pm me also !