Do you provide your units with a stove and refrigerator ? Some do and many do not. It can be a significant expense for tenants who do not have these appliances but is it the best idea for you as a landlord?

PROS. Although I have always supplied stoves for all the units I have owned over my career, for a long time I did not supply refrigerators. I now supply both. One reason is that I can decide on the type and condition of these appliances. I don’t have to worry about tenants using sub standard stoves and refrigerators that they were given by a friend, in my units. I can also make sure that the units are installed correctly. Especially with a gas stove, the potential for damage and injury is easy to see. I can also supply units that look good in my units, which allows for a better showing. Lastly, many good tenants don’t own any appliances, which means they will have to purchase then in addition to their fees at move in. You may lose a potentially great tenant. You may even get some extra rent for the convenience of supplying appliances.

CONS. There are a number of reasons I supply a stove and fridge for all my units. There are however, some cons. The expenses for these items will be borne by the landlord. I feel that this is worth it for having the consistency and knowledge that the stoved and refrigerators are properly installed and in good working order. Another major con for me is installation, particularly upstairs. These appliances are heavy and can do a lot of damage to people and (your) building when the tenants and a friend decide to move them in. Potential for lawsuits abounds, not to mention damages to your building which can be expensive to repair.

What we at PRS PROPERTIES CAN DO. We can give you a good idea of the current value of your building. We can suggest changes you might want to make before sale to give you an idea what type of building you would be able to exchange into. You may decide to stay in the rental business. We are always available to chat. We can give you referrals for professionals, such as lenders, contractors, and engineers, so that you can decide who you feel best with. We can supply you with rent and sale comparables in the area of your properties, so that you know what rental values are in your area. It is important that you know the true value of your rental units, so that you can get them rented right away at market value, or at least as much as possible with rent control restrictions. We can look at potential purchases that you may be interested in to make the property more desirable, and maybe look at potential issues that an insurer might require you to repair.

If you should decide to sell your building, we can help you exchange into a larger or smaller properties. We can even help you move into something with less management responsibilities. We can also help with getting the paperwork together for a refinance if that is your desire. We can also recommend experienced licensed contractors who can perform any repairs or installations you may need prior to selling. We can also look at your building for other easy and inexpensive changes that might allow you to get a higher value. We can help you to get the maximum value for your property, should you decide to sell, or the maximum return if you are planning to keep your building.

We are currently looking for “as-is” properties and are willing to purchase with low rents, deferred maintenance or even with a problem tenant in place. We can offer a 7 day escrow and all cash at closing. Give us a call. We have also put together numerous transactions over the years which involve properties that are not listed for sale. Many investors are currently in 1031 exchanges and need to identify a replacement property before their 45 day identification period runs out.

Should you decide to put your property on the market, we will put together an aggressive, targeted and professional campaign to get your property sold fast. We have been doing this for over 40 years, and we will use all the tools available to bring you the most dollars at closing. If you are thinking of selling or are just curious about the value of your property, don’t hesitate to give us a call.