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2021-09-02 RENT WASHER & DRYER TO YOUR RESIDENTS | By: Jeff Taylor

RENT WASHER & DRYER TO YOUR RESIDENTS
Jeffery Taylor, Mr. Landlord.com
 
Offering to rent a washer and dryer to your residents can generate some extra rental income. The following are 4 examples of what a few landlords are doing in different parts of the country to increase their rental income by renting washers and dryers.
 
  1. I only rent new equipment. At $45/month, the pair will pay for itself in 18 months. Our insurance requires braided metal hoses for washer hookup, so hopefully no busted lines. If they last 8-10 years, I will see a decent profit.
 
  1. I once owned an appliance repair shop. I started supplying washers/dryers for an extra $30/month. I would buy them used off Facebook Marketplace or Craigslist. I also supplies the braided steel supply hoses. I rented 8 sets. My last breakdown was at least two years ago, and I just replaced it with another used one. It's been a good source of additional income.
 
  1. I have been renting my appliances to tenants for about 20 yrs now. I have been charging $25 per set washer/dryer, stove/frig. I buy used appliances that equal the amount of that money. Tenants are required to keep for one year, then at any time after that they can have them removed. The $25 came from a decision, from Section 8, where a tenant challenged my rent fee. Section 8 stated I can charge $25 per set and they must keep it for 1 yr. That was about 15 yrs ago, and I never tried to raise it. It has worked out great. Most of the time I have no problems.
 
  1. I have a community coin washer/dryer on my properties (multi-units). The price is set at $2 for the washer & $2 for the dryer. That's $8 per load. Tenants/guests gladly pay it for the convenience of not having to go off site to do laundry.
 
The tips in this column are shared by regular contributors to the popular MrLandlord.com Q&A forum, by real estate authors and by Jeffrey Taylor, Founder@Mrlandlord.com. To receive a free sample of Mr. Landlord newsletter, call 1-800-950-2250 or visit their informative Q&A Forum at LandlordingAdvice.com, where you can ask landlording questions and seek advice of other landlords 24 hours a day.

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