Property Investment Tips: Should you provide whiteware for your tenants?

By the resi financial blog team, 12 June 2014

Should you provide whiteware for your tenants?

Owning investment property comes with plenty of perks, but that's not to say there aren't some important decisions you'll have to make.

Taking the time to consider all aspects of the property buying process is a must, not to mention what to do when the time comes to actually sign a rental agreement with tenants.

You'll no doubt hunt out the best fixed interest rates when borrowing to invest - or perhaps a variable rate loan - but what about other aspects of the rental?

Whiteware or no-ware?

One thing to consider is whether to provide whiteware to your tenants. While you're perfectly entitled to offer potential renters an unfurnished property, there are some benefits to providing whiteware. 

Remember, if you list whiteware in the rental agreement as part of  the rental cost, you'll have to maintain it. While a wider pool of tenants may be interested in your property thanks to the promise of a fridge and a washing machine, this could turn into a pain if you purchase poorly made or second-hand items that require expensive maintenance. 

However, if you buy new, this investment could be worth it. The property will remain your own, but the tenants will be able to use it. While this means that there may be a bit of wear and tear over time, you might like to consider whether you can take in a better weekly rent thanks to the inclusion of these items.

Remember that some tenants will have these items already, so won't see the value of them being supplied. However, young professionals or students may like the option of not having to purchase these items or move them into the property themselves. Think about who your potential tenants are and make a decision accordingly!

Remember, there's always the chance of these items being damaged or stolen. While you can screen tenants to try to avoid this from happening, it's worth having specialist insurance in case cheeky tenants make away with a top-end fridge, freezer, dryer or washing machine!

Categories: Property Investment