Managing your own rental property can be challenging, even for the experienced landlord, and managing multiple rental properties without the assistance of a property management team can mean spending a lot of time screening applications, responding to repair calls, and even issuing late-payment notices. When one of the larger appliances in your rental home (like the refrigerator, washer, dryer, or dishwasher) breaks down, you may find yourself mentally battling between the desire to have this appliance replaced as quickly as possible and your desire to save money.
Fortunately, these two wishes aren't always mutually exclusive, and you may be able to make some extra money on your old appliances while quickly making room for newer ones. Read on to learn more about your options when it comes to getting rid of malfunctioning (or non-functioning) appliances in your rental home.
Because of their steel and aluminum content, many large household appliances have a high scrap value (especially in relation to their value as a non-functioning appliance). Appliance recycling companies specialize in the pickup and recycling of various household appliances, paying you a flat or per-pound rate based on your type of appliance and its estimated recyclable metal content. These recycling companies generally offer free estimation and pickup services, folding this cost into the amount the company is set to receive from the scrapyard.
By coordinating your appliance recycling with the delivery and installation of your new appliance, you'll be able to minimize any disruptions in your tenant's schedule while getting a bit of cash back for the appliance that is no longer working. Rather than using a hand truck and hauling your old appliance to the dump yourself on a work night or weekend day, you'll be able to make a few phone calls and have the entire process handled on your behalf without so much as breaking a sweat.
If you're purchasing new (or gently used) appliances through a vendor that offers delivery and installation services, you may simply be able to send your old appliance back with this vendor. Not only can this help you avoid the disposal fee you would have paid if you took this appliance to the dump, some companies may even offer discounts or rebates in exchange for your appliance recycling, making this a money-saving prospect if you foresee yourself replacing several more appliances (or performing other home improvements) in the near future.