Adding a washer/dryer and fridge in apartment to increase rent

Discussion in 'Investment Strategy' started by Matt87, 8th May, 2018.

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  1. Matt87

    Matt87 Well-Known Member

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    Hi all,

    I am thinking of adding a washer/dryer and fridge in apartment to increase rent. But not sure if it is worth it or not. Anyone even added the above to increase their rent or just make their place/s more appealing. :)

    Cheers,

    Matt
     
    Matt87, 8th May, 2018
    #1
  2. Propertunity

    Propertunity Well-Known Member

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    Aircon would be a better option.
     
    Propertunity, 8th May, 2018
    #2
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  3. Xenia

    Xenia Well-Known Member

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    People would not usually pay more because it has a fridge or furniture unless it is an executive style home with brand new quality expensive furniture
     
    Xenia, 8th May, 2018
    #3
    Jake Milne likes this.
  4. S.T

    S.T Well-Known Member

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    I'm adding a combo washer/dryer into an apartment of mine, main reason is I'm moving it from the bathroom into the kitchen so I can put in a bigger bathroom.
     
    S.T, 8th May, 2018
    #4
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  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    It would definitely make it more appealing if the only other option is a communal laundry facilities or the laundromat. You might only be able to charge a small amount extra but it would stand out from other units in the complex and surrounds which don't have those facilities and therefore decrease vacancies and increase the tenant pool.

    I don't think a fridge would add appeal
     
    Westminster, 8th May, 2018
    #5
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Those combo units are rubbish and seem a great idea until you have used it. Super long cycles (wash + dry can be 6-8 hours) and the weight limit for wash (8k) and dry (5kg) are very different. So a 8kg wash load wont dry and it will still be wet I would put in one of each and never use a combo.

    There was a recent unit with two drawers and its even worse. One unit washes a tiny qty (2.5kg) and doesnt dry while other is huge at 16kg takes up to 14 hours but can only dry 9k so then you have to runa second batch of 9k in dryer and thats another few hours,. Cost $3200 !!!
    https://www.thegoodguys.com.au/lg-twinwash-dual-washer-dryer-combo-twin171216t
     
    Paul@PAS, 8th May, 2018
    #6
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  7. hash_investor

    hash_investor Well-Known Member

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    depends where the apartment is
     
    hash_investor, 8th May, 2018
    #7
  8. Stoffo

    Stoffo Well-Known Member

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    Don't forget to ensure it is CLEARLY DEFINED in the rental agreement

    Nothing worse than popping in to do some handyman stuff after the tenant has vacated, only to find the appliances GONE and the agent having done an inspection and returned the bond o_O

    Yes it happens, even to some on PC:oops:
     
    Stoffo, 8th May, 2018
    #8
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  9. Xenia

    Xenia Well-Known Member

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    Yes it does
     
    Xenia, 8th May, 2018
    #9
  10. Madcatters

    Madcatters Active Member

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    Hmm
    How much extra rent if we add in a toaster?
     
    Madcatters, 9th May, 2018
    #10
  11. hash_investor

    hash_investor Well-Known Member

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    I would pay extra for a shoe rack
     
    hash_investor, 11th May, 2018
    #11
  12. Tonibell

    Tonibell Well-Known Member

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    We provided a fridge and washing machine in a unit we renovated- mainly because the design required very specific dimensions for the appliances and only a couple of models would fit.

    Hasn’t caused us any issues but wouldn’t do it just for the rent.
     
    Tonibell, 11th May, 2018
    #12
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