Investing in rental properties is a great way to earn a passive income. Around 44.1 million American households currently live in rental homes. This statistic indicates that the rental business will remain lucrative in the foreseeable future.

When you check out the rental market, you will see that some properties come unfurnished while others are furnished. Furnished properties typically come with higher rental rates since they are ready for occupancy. It spares tenants the expense and effort of furnishing themselves. 

However, beyond furnishing, appliance maintenance also impacts the value of a property. 

How does appliance maintenance affect rent value?

Investing in high-quality and fully functional appliances enhances the value of your property. Prospective tenants lean toward rentals that give them a bang for their buck. And when they see that the amenities meet their needs, they wouldn’t mind paying extra for the convenience.

You should choose the type of appliances to install according to the neighborhood where your rental is located. For example, properties in mid-range neighborhoods can be okay with simple yet functional appliances. On the other hand, high-end locations typically require better-quality appliances.

To ensure your tenants can see the value of the appliances you have pre-installed, it’s essential to keep them in top condition. The best way to do that is through regular maintenance. Regular and adequate servicing of the appliances in your rental property will give the tenants confidence that the money they pay for rent is well-spent.

Appliances That Can Increase Rental Value

Now that you know the advantages of pre-installed appliances, the next stage is identifying which ones you should purchase for your rental. The following appliances can enhance the appeal and rental value of your property: 

Stove

There are two types of stoves suitable for rental homes, and your choice boils down to whether you have a gas line hookup or an electric outlet.

Gas stove

A gas stove is costlier upfront but can save you money over time. This stove typically lasts up to 15 years, with regular maintenance.

Electric stove

An electric stove is much cheaper to install and can cook more evenly than a gas range. If you choose this type of stove, remember that you need the correct voltage for it to function correctly. 

For maintenance and repair, use OEM parts, like the ones offered by PartSelect. For instance, suppose you own a Kenmore electric stove. In that case, ensure to use Kenmore electric stove parts. They are specifically designed for your appliance model. It helps extend the appliance’s lifespan and enhance its performance. 

Refrigerator

Installing a fridge in your rental property is a good idea. After all, it’s a basic necessity. Many choices are available in the market, but a white fridge is perfect if you’re going for a classic look. For some variation, you can also choose a stainless steel fridge. And with regular maintenance, you can expect the refrigerator to serve your tenants for up to 13 years.

Washer and dryer

Rental homes with washers and dryers can appeal more to prospective tenants because of their convenience. With these units in their space, tenants don’t have to worry about making a trip to the laundromat regularly. 

You can expect washing machines to be of good service for around 10 years. On the other hand, dryers can last you up to 13 years. Remember that having these appliances serviced regularly is also vital to their longevity.

Dishwasher

This appliance may be optional, but it adds value to your rental property. Select a dishwasher you can easily fit and install in your rental home. With proper maintenance, it can last up to 10 years.

Microwave

Lastly, we have an affordable but regularly used appliance—a microwave. Most rental houses have this amenity, which tenants appreciate. With frequent maintenance, you can extend the life of your microwave for up to 10 years.

Increase Your Home’s Rent Value

Installing high-quality, well-maintained appliances in your rental home will significantly increase its value. Be selective of the amenities you include and ensure they are regularly maintained so your tenants can enjoy them for years. With this attention to detail, you can earn respect and loyalty as a landlord and gain appreciation from your tenants.