The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: FrugalSaver on May 27, 2017, 11:06:14 AM
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I have a tenant that is moving temporarily for about 16 months and doesn't have a dryer. One option is for them to buy one or rent one.
Another option would be for me to buy a functional one or a used one and rent it to them at a discount.
Checking local rent a centers, it seems like they'd have to pay about $85-90 to rent one each month. I could easily buy one for about $275 and rent it for $50-60 and pocket the difference AND later sell it back if that's what i wanted to do.
Any thoughts or experience doing this?
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Buy a dryer (is there a washer?) for the unit/house and advertise it as a feature going forward. Raise rent accordingly.
Otherwise let the tenant solve it on their own.
-W
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Find a used dryer off Craigslist or Kijiji and (as walt said) raise rent accordingly.
Also - I do not understand how 16 months can be considered a 'temporary move'. ARe you providing him/her a dryer for 16 months?
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I agree with the others, just write into the lease as an included appliance and increase rent by the amount you want to charge. A second "payment" or rental agreement for the washers just makes you like Aaron's Rents...not worth it.
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I'd tell the tenant this
rent is $x
or rent is $x+50 with laundry machines included
then you go buy a washer and dryer.
from now on, your rental includes them and you price it accordingly.
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Time to lock this thread, all the right answers have been given ;-)