Did you know that renting home appliances is a thing? Oh yes it is!
Renting home appliances, such as fridges, microwave ovens, and televisions, is a brand new option for property agents and landlords, and it is something a lot of us can benefit from.
Here are some reasons why:
Get that rental lease signed quicker
So your condo is ready for rent, equipped with basic accessories such as a kitchen cabinet and bedroom wardrobe. A potential tenant shows up; and he’s willing to sign up ONLY if the condo has home appliances available (pretty common in the industry!). Now, you’re scratching your head – do you really want to fork out a few thousand ringgit to snag this tenant, when he might only rent for a year at most?
Fortunately, when you rent home appliances, you don’t need to make the financial commitment to purchase them for the long run. There’s no need to worry about buying all this stuff you won’t be requiring long term. Once your tenant has moved out, simply quit the rental lease – and if another client were to require home appliances, simply rent again.
You don’t have to worry about reselling them later
So let’s say you buy a whole bunch of home appliances for your rental condo. Condos are typically resold after 3-4 years – so what will you do with those old, outdated appliances? Sell them? No chance! Somehow try to dispose of them? Way too much hassle and waste of time.
The beauty about renting home appliances is that when you don’t need them anymore, that’s it! You give themback, and you stop paying for them! Put that extra time to better financial use.
No expenses or time wasted for maintenance or major repairs
If something were to go wrong in your rental condo – say, a busted fridge or a spoilt TV, who is your tenant going to call? You, of course! Now you have to stop whatever you’ve been doing, scramble through your contact list to contact a retailer, and hope they respond with a solution ASAP (hint: they won’t). And worse still, if the solution doesn’t come in a reasonable time, you stand to lose profit in your rental lease.
When your home appliances are rented, the burden of replacement or repair is no longer on your shoulders. Companies like GoByRent.com enable tenants to speak directly to them, cutting you off as unnecessary middle man, and even provide a 48-hour response. Now you can take a breath of relief.
Higher Rent and Better Tax Benefits
A rental condo that is equipped with home appliances is prettier to the eye, and will definitely demand a higher rental lease. And as mentioned earlier, without having to invest in the actual purchase of home appliances, you are now in a win-win situation financially.
Better yet, you pay lesser tax at the end of the day, since renting home appliances is part of the list of tax-deductible expenses.
Who says rented home appliances are second hand?
It’s not surprising if you were to mention to a colleague that you are renting home appliances in your condo, and their response would be “Pfft! Who’d pay for second hand stuff?”
Now that is completely untrue. Companies like GoByRent.com provide brand new home appliances for rental every time. If said appliances need repair, they are instead replaced with another brand new product or a similarly new one.
Thus every time your tenant signs up for a condo with home appliances, they can fully expect those appliances to be brand new.