If you have property that you're renting out to tenants, and appliances are included, do you replace them periodically to keep them at peak efficiency and thus save money? Or do you prefer waiting until there's an issue with the fridge, stove, washer/dryer, or air conditioner before replacing or repairing? So far we've waited until something came up, but I'm wondering if that's best. Granted, being in another state, it would be tricky to have the property manager "go shopping" for us because we'd be the owners and I'd want to shop for things myself, but I could surely give him a model number and hope he gets the right item.
I think for any landlord it's important to keep on top of things, so to speak and replacing appliances on a regular basis is the best way to do that. Waiting for something to break down before replacing it can be false economy and you have to think of what might happen if 3 or 4 things need replacing at the same time.
Thanks, pwarbi... makes sense. Sure would be a lot easier in my own case if I could be hands-on... just buy the appliance, have it delivered and be done with it. But it would have to go through someone else... buy this, this is the kind I want, have it delivered, make sure it's working, etc. Granted we give the property manager (who's actually a real estate agent) a generous Christmas bonus each year, but I'm not sure that I'd feel comfortable with making one of his duties going shopping for us.
I can not afford to be replacing appliances willy nilly all the time. However, this is a private home to begin with, and not a rental unit. My tenant lives here. I do have a built in microwave that I am replacing...even though we have a counter top one as it is something that I think I need to do to sell the house.
Yes, if your tenant lives right there with you in your private home, it seems to be a totally different issue for sure. I don't see it as "willy nilly" because appliances cost more when they get old... like in electricity, and so on. Maybe not a lot more, but it becomes a matter of upkeep and routine maintenance. Maybe it's just me... but I don't like waiting for a car to totally give up the ghost and let me sitting on the Interstate before replacing it either. Same goes for things like furnace and roof for our rental. I'm really not going to wait until the roof is leaking or the furnace stops heating to replace them. Appliances are on a much smaller scale, of course, but like @pwarbi said, it's good to be on top of things.
My nephew has a furnished condo in a plush area that he rents out. One thing I noticed in his list is the regular check of the appliances. Broken appliances should be replaced immediately, according to the instructions of my nephew who lives in Hongkong and has someone handling his condo rental in the Philippines. However, there should be an investigation on the broken appliance because it might be the fault of the tenant due to neglect. In that case, the tenant is liable for the replacement of the broken appliance.
Good post, Corzhens. That seems like a wise approach for sure. Is it written into the lease that if determined to be caused by neglect, it's the tenant's responsibility for replacement?
All of the appliances in here were brand new when I bought this place 10 years ago, and I have replaced the dishwasher and the refrigerator. The stove broke a few months ago, and I opted to have a repairman come out because it was cheaper than replacing the entire unit. The problem with modern appliances, is that they literally "are not built like they used to be" and many are built in places like Mexico...and seriously you have no guarantees that you will get a good one. I went through Hell with the new refrigerator...which broke 3 times. The last time they replaced the control panel though, and that seemed to fix it.
What a coincidence. We bought a new rice cooker 2 weeks ago. Last week, our housemaid reported that it was not working. After checking thoroughly, I brought the rice cooker back to the store. Fortunately it was replaced after confirming that it indeed doesn't work. I am citing this incident because a furnished rental place can experience that problem that can be attributed to the neglect of the tenant where actually it was the appliance that is at fault. I have seen resorts with appliances that are almost broken down due to neglect of use so that is the first suspicion when an appliance conks out.
Well if I'm reading this right then the OP is looking to replace the appliances to consume less electricity, therefore saving money in the long run. Well I'd say that in general it's not worth it but you might want to check the consumption and do the math yourself. With some appliances like the fridge (uses quite a bit of electricity and is on 24/7) it might be worth it. Also... I find it strange that the landlord is paying for the electricity, not the tenant... but that's another discussion. Also keep in mind that if everything in the apartment is nice and new it gives a more positive vibe and might be a good reason to increase the rent a little to cover the costs.
