Tip of the Month - February, 2022


Source: Property Management for Dummies
By Robert Grisworld

Providing your tenants with laundry equipment is one of the best ways you can increase your non-rent revenue.  But your ability to meet this need will probably depend on the size of your rental property.

If you own a single-family rental home, including a washer & dryer can allow you to charge an extra $50.00-$75.00 in monthly rent.  The plumbing & connections are probably already installed (or if the are not, they can easily be added). But unless you want to see all your potential profits go down the drain, be sure that your tenant pays for the utilities, including the water & sewer charges.

The owners of rental properties with two to twelve rental units have the toughest time offering laundry equipment, because they often lack an appropriate location.  If the washer & dryer cannot be installed directly in the rental units, look for a location to build a common area laundry facility. You may be able to convert a garage or build an enclosure in a carport space, but be sure the location is safe & secure and always use a licensed & bonded general contractor & get the property permits.

This web page was updated on 1/31/2022.