For rental property. If it ain’t broke, why fix it.[/quote]
Because happy tenants who feel like they are getting a good deal on a nice place to live will be more likely to stay as long-term tenants, and this will keep your costs down over the long run. Also, they will tend to care more for the house if you care for it. It’s well known that if tenants feel as though their LL is a slumlord, they will be much more likely to abuse the place, in addition to engaging in other undesirable behaviors like not paying rent, stiffing you for the deposit as they use it for “last month’s rent,” etc.
What goes around, comes around.[/quote]
CAR you’re just losing it these days…Lol….
I have yet to meet a single tenant that even gives a rats ass whether they get a stainless steel appliance versus something that is plain white and functioning… (Granted broken appliances is a completely different thing)
Are you even serious on this one?
Get off your “moral” high horse will you? The stench is sickening sometimes…
And provided it’s clean, it’s safe, and it’s functional.. If someone doesn’t like it, they can always find other places to live that’s a better value for there money…
I’d be happy to put in new appliances for my tenant in the Bay Area, if they don’t mind me jacking up their rent from current below market prices of $3000/month… to current market price of $3300/month, which is what current market price is….
I’m sure however, my tenant would rather keep the extra $300/month in their wallet versus getting new appliances just because they “look nicer” for things that they don’t even own and that isn’t even theirs.
…And if they really had heartburn on it , they can always ask… Funny how over the past 3 years, they never have asked…I guess they’d rather keep more money in their own pockets, rather than pay for things that belong to me… Imagine that![/quote]
My family owned multiple rentals for many decades, and I was responsible for managing some of them. My mom was also a RE broker, so I’ve seen a lot of things over the years. There is no question that tenants will be more likely to abuse a home if they feel that their LLs don’t give a rat’s ass about them or their rental. No “morality” about it.
I’ve seen you mention things like taking out ceiling fans and stuff because you don’t want to deal with the possible maintenance (very little to maintain where ceiling fans are concerned, BTW). You care more about your bottom line vs the basic comfort of your tenants. I can assure you this will not bode well for you over the years.
The most successful landlords are those who give good value for the money and who have a respectful, considerate relationship with their tenants.
Edited to add: I do NOT think that LLs need to provide the latest and greatest in every rental (depends on the particular market for the rental). It is important, IMHO, to give the tenants a nice, clean, well-maintained place to live. That means that appliances and other items should be replaced as soon as they start giving too much trouble. I’ve seen LLs who will essentially tape things together just to keep them in a functional state. This will make the tenants feel like doing the bare minimum (or worse) in return.
And there are a lot of tenants out there who do care about whether or not the appliances are SS or basic white. Though I think it’s silly, some of them are every bit as concerned about appearances and “upgrades” as many buyers are.
