26 March 2012

Should Appliances Be Included When Renting A Property?

Property rental has become increasingly popular in recent years as lenders have tightened their belts in view of the economic crisis. It is much more difficult for new buyers to secure mortgages than it was 4 years ago before the crisis hit. As a result many are opting to rent whilst they save enough money to put down as a deposit when the time to buy does arrive. Of course, it is always difficult to save money whilst you have to pay your rent, bills and run the car. That is why you must look to save money wherever possible whilst you are renting. Typically those searching for a flat or house will take into consideration whether the property is unfurnished. However, one area that is often not given too much thought is the inclusion of appliances.

What you can expect
Typically most landlords will ensure that their property is fitted with a cooker, be it gas or electric. However, additional appliances such as washing machines, fridge freezers, dishwashers and microwaves are at the landlord’s discretion. Often those that exclude such appliances from the rental agreement will do so because health and safety regulations in place. It is the landlord’s responsibility to ensure that all gas and electrical items comply with the required laws. Not having so many appliances to worry about makes things a little easier for these landlords. This factor can especially come into play when they own several properties and look to minimise management time wherever possible.

One thing less to worry about
Whilst hunting for your rental property you should certainly take into consideration the issue of which appliances are included in the agreement. Not having to worry about having your washing machine plumbed in, or whether the fridge freezer will fit in the corner can be nice. However, it shouldn't be your determining factor on whether a property it suitable. Indeed, in some instances it may even be that not having such appliances installed will work out for you long term.

Planning ahead
If you are planning on purchasing your own property in the not too distant future then you are of course going to require appliances for it. You can simply purchase them and fit them into your rented property until you are ready to buy your own house. Whilst it may be beyond your financial means to purchase three or four appliances in one go; there is a way around this by opting for interest free credit deals. You can then use the fact that the property does not have appliances as a bargaining chip with the landlord as you seek to secure a reduction in the rental price. Whilst you should try to get as big a reduction as possible, £50 is a reasonable target and will suit your needs just fine. Over the course of the year this £50 reduction will equate to a saving of £600. This can be used to pay off the monthly bills for your newly bought appliances. Considering the range of cheap fridge freezers, washing machines, microwaves and dishwashers out there, you could reasonably expect to pay off at least 3 of these appliances within the year.

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