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I have a tenant moving in on the 1st Oct and they've asked me to install a dishwasher, fridge and washing machine/tumble dryer combo...any recommendations on brands and models? I'm going to go to Makro, Game etc this weekend...
Did the tenant rent it as is when s/he signed? If so why now asking/demanding all those things? Blinds might be a good idea, but they can buy the rest. Otherwise next they ask you for couch and table and chairs and TV etc and before you know it you are ending up with a furnished place and get paid for an unfurnished place. Furnished is always more headaches, damages, breakages, repairs etc. Study your market and if its predominantly unfurnished I suggest you stick to unfurnished. Otherwise you might find it difficult to let it furnished the next time round. If you sell all that gear again you are losing a lot of money. Or you say you pay half and they pay half and then buy second hand to start with.
Makro is now an online shop and often has better prices than Game I find.
Unless there is a space constraint don;t buy combo's. If that brakes down you loose two in one go.
Don't buy fancy and expensive.
Houses4Rent
"We treat your investment as we treat our own" marc@houses4rent.co.zawww.houses4rent.co.za 083-3115551
Global Residential Property Investor / Specialized Letting Agent & Property Manager
The tenant hasn't moved in yet and is offering 28k/month for this unit...I'm still gathering the details so not sure about how qualified this tenant is, but if they are I don't mind installing some gear to get them set up, I would have to have the lease signed and deposit paid before I budge of course.
But totally agree with you on the pain in the ass furnishing houses is. I'd rather take less pay then have to manage all that crap then have to throw everything away when the tenant moves on.
I'm normally accomodating with tenants, some years ago I built a kitchen for a tenant. I quoted him, he paid cash, I picked up one of those zimbo carpenters outside the builders and we built a new kitchen from scratch with granite worktops and oven/hob for less than 30k, took about a week to complete...was a good deal in the end and that kitchen is still in good nick...
As far as appliances are concerned people often have to sell their top loaders since they dont' fit when moving into apartments.
I am aware that tenant has not moved in yet. Before a tenant is not qualified and approved I would not even waste any time looking at extra's.
The question is what was your market related asking price unfurnished? If it was R28k you will lose.
If the tenant pays I am happy to do a lot of things too which add value to my house.
Houses4Rent
"We treat your investment as we treat our own" marc@houses4rent.co.zawww.houses4rent.co.za 083-3115551
Global Residential Property Investor / Specialized Letting Agent & Property Manager
Seems like your tenant wants just the white appliances i.e. semi furnished. This is actually a norm for company tenants. So, lets do the math.
Take the cost of the appliances. Take the lease period. Divide the two. If this is equal or more than the amount they are paying extra on the lease...
At the end of the lease, your tenants has paid for the appliances which remains yours and allows you to rent the place for more in future.
Unless this causes a cashflow issue for you, it is a good option.
Game has a policy that if you find it elsewhere cheaper, they will give you at the same price less 0.1%. This is only applicable on the brands they stock.
You do not say where you are based, but another option is to look for companies that supply this type of appliances direct. An example is Young Pioneers in Woodmead area. They sell Samsung and LG goods. You can get appliances from them at around 75% of the price in the retail market.
Hi-Fi Corp is also good with prices and so is Makro. Buy decent brands with guarantees so you can pass this to your tenant in case anything goes wrong and the appliances needs repairs (keep your pain to a minimum).
Personally, I dont like the combo machines, issue if they break, but that is a personal preference.
Added value to your place, dont forget to write if off against tax expense.
Thanks for all the input, yeah I think it works out in my favour for the rent they are offering I was only expecting around 22k for this unit and they offered 28 so more than enought to pay for the appliances. If the tenant qualifies then I don't mind installing and maintianing.
Thanks for all the input, yeah I think it works out in my favour for the rent they are offering I was only expecting around 22k for this unit and they offered 28 so more than enought to pay for the appliances. If the tenant qualifies then I don't mind installing and maintianing.
In that case sure, go buy the stuff.
Careful with Hifi Corp though. Make sure its not a grey import which affects the warranty - I have forgotten the details. Never ever buy their house brand made in China. My client did that, it broke, Hifi had ditched that supplier and no spares could be sourced and nothing generic could be found either.
Houses4Rent
"We treat your investment as we treat our own" marc@houses4rent.co.zawww.houses4rent.co.za 083-3115551
Global Residential Property Investor / Specialized Letting Agent & Property Manager
basement dweller where are you based. i might need the help of that Zimbo to help revamp my kitchen. bought a house in windsor east in Jhb. moving in Nov this year.
Prospective tenant came back with the rental applications:
- British national on a 14 month contract
- Sales Director of what appears to be an engineering company
- Married no kids or pets
- Born 1957
- Salary 6416.67 Pounds/month (on payslip)
- Housing allowance 4152 Pounds/month (on payslip)
- TPN checks out
- Offer R28k/month rental plus one month's deposit
- Wants appliances installed
All seems good on paper, will probably sign lease with this tenant.
Contact his employer (HR manager) to verify his employment and income. It hat after tax or before tax? He should make R78k after tax to male R28k affordable
Anybody van make up payslips....
What about his bank statements?
Houses4Rent
"We treat your investment as we treat our own" marc@houses4rent.co.zawww.houses4rent.co.za 083-3115551
Global Residential Property Investor / Specialized Letting Agent & Property Manager
TPN has records because it appears he's been in SA for a while and rented from a local landlord. Payslip says his net pay is 5771.40 pounds (R102947.47) per month.
Haven't received any bank statements.
Googled his name, linkedin profile shows he's employed with this company and has over 500+ connections.
Payslip could be doctored but looks legit. Contacted HR resource at his company to verify that he works there and earns this money. Still waiting for reply.
Made email contact with his previous landlord who says he was an excellent tenant, paid on time a rental in the upper 20k's.
Sounds all good, but I would not place any tenant without bank statements. Big earners are often big spenders and he might be permanently in the red, have bounced DO's, returned payments etc. which you cans see on statements.
Houses4Rent
"We treat your investment as we treat our own" marc@houses4rent.co.zawww.houses4rent.co.za 083-3115551
Global Residential Property Investor / Specialized Letting Agent & Property Manager
TPN has records because it appears he's been in SA for a while and rented from a local landlord. Payslip says his net pay is 5771.40 pounds (R102947.47) per month.
Haven't received any bank statements.
Googled his name, linkedin profile shows he's employed with this company and has over 500+ connections.
Payslip could be doctored but looks legit. Contacted HR resource at his company to verify that he works there and earns this money. Still waiting for reply.
Made email contact with his previous landlord who says he was an excellent tenant, paid on time a rental in the upper 20k's.
Sounds like a good option to me. There are many expats who rent properties whilst working for the companies in SA. The only other thing you could possibly do if you were really still concerned is to ask his employer to co-sign the lease. But, really, I think you are more than good to go. Happy shopping for appliances and well done on increasing the value of your property with that deal.
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