Author Topic: Small Studio: Add W/D?  (Read 1357 times)

Reyes01

  • 5 O'Clock Shadow
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Small Studio: Add W/D?
« on: February 10, 2015, 06:54:43 PM »
We may be converting a part of our house into a separate studio. We are in the planning stages and wonder if it is worth it to have space for stackable washer & dryer. Does doing so increase the quality of the tenants? Utilities would be included in the rent so I know the water/electric bill would be higher. Thoughts?

escolegrove

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    • Reluctant Landlord
Re: Small Studio: Add W/D?
« Reply #1 on: February 11, 2015, 12:30:52 AM »
What type of tenants do you want? Most professional want "hook ups" in their unit! What does the comps tenants offer. I have higher end properties so all of my units have hook ups. That being said, I do not offer washer and dryers and have been pulling them out of the units. The value they add versus the costs into there!

GuitarBrian

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Re: Small Studio: Add W/D?
« Reply #2 on: February 11, 2015, 12:42:25 PM »
All my rentals are detached houses. And I don't include washers and dryers... Since they are prone to break. They all have W/D hookups. I don't include elect/water in rent, so my issue is with getting a call, the W/D isn't working... The dishwasher is bad enough.

That said, there was a study that found the number one item people wanted in an apartment/house was private W/D. So if you don't have room to offer standard hookups, then you might consider including a stackable unit... or hookups for stackable units... which would be fine for people who are going to stay longer, harder for short term.

As with most "upgrades" return is hard to calculate... but generaly more amenities get the property rented sooner. And having a W/D might keep them in an extra year etc.