Purchasing dryer to add to rental

T

THR

Hi all,

So I'm very much a newbie to all of this property management; I've just purchased my first property and am in the process of arranging to rent it for the first time.

I anticipate it will rent for ~ $730-$770 per week and wonder whether it is worthwhile installing a dryer (the previous owner is, perhaps obviously, taking theirs).

Couple of questions:
  • Do you think it helps to rent with a dryer (I'm in inner west Sydney and every property I have ever let has always had one)
  • Over what term do you normally depreciate a dryer?

For context, I am currently thinking of purchasing a Bosch or Miele condensor dryer (leaning towards the Bosch), for around $2,000; reason being, I will tenant it and depreciate the dryer, but we will eventually move in ourselves and use it.

Any information appreciated! :)
 
Hi THR,

Welcome to the forums.

I don’t believe a dryer will achieve more rent. Even if you achieved an extra $10 a week, it would take nearly 4 years to break even.

A dryer will give you something else to worry about repairing or replacing if it were to break.

I always to my vendors to KISS- keep it simple sir. Swimming pools, dishwashers, automatic doors, alarms, BBQ’s, roller shutters don’t usually achieve more rent. But they do break down.

Take a page from the DHA (defence housing authority) rule book. They have very strict criteria when buying properties. Generally, they don’t buy any house with features that can break down. They buy the bare essentials and keep it basic as can be. No landscaped gardens and all of the above.
 
Depends on the property.

If it is a unit or apartment with no exterior drying facilities then a dryer is probably a good idea.
Marg
 
I have to supply one in Cairns. Tenants not interested in renting otherwise, in the humidity it is essential to have dryer.

Chris
 
jim1964 said:
Seriously :confused::confused: why would you bother spending money you do not have to.
Click to expand...

That's why I'm asking the question - trying to ascertain whether it is the norm. It would appear not.

Reason I ask is wherever I have rented I have always been supplied with one.
 
thepeoplesagent said:
Hi THR,

Welcome to the forums.

I don’t believe a dryer will achieve more rent. Even if you achieved an extra $10 a week, it would take nearly 4 years to break even.

A dryer will give you something else to worry about repairing or replacing if it were to break.

I always to my vendors to KISS- keep it simple sir. Swimming pools, dishwashers, automatic doors, alarms, BBQ’s, roller shutters don’t usually achieve more rent. But they do break down.

Take a page from the DHA (defence housing authority) rule book. They have very strict criteria when buying properties. Generally, they don’t buy any house with features that can break down. They buy the bare essentials and keep it basic as can be. No landscaped gardens and all of the above.
Click to expand...

Thanks for the response. That seems like a sensible and logical approach.

The property does have a clothesline as well - so I don't think it's a must to have a dryer.
 
You haven't said whether it is a house or an apartment. If it is the latter, there would be a reasonable expectation that there is a dryer supplied. But not an expensive one.
 
depreciator said:
You haven't said whether it is a house or an apartment. If it is the latter, there would be a reasonable expectation that there is a dryer supplied. But not an expensive one.
Click to expand...

It's an apartment.

I should probably add that I'd also want a condenser dryer for rather selfish reasons - I don't want the condensation ruining the walls.
 
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