Do Stainless Steel Appliances Increase the Value of a Rental Property?

Stainless steel appliances have been a popular choice for years. It is often believed that they help increase the value of a rental property, as well. The question is: will stainless steel continue to be something renters look for? The short answer: yes. According to research by Houzz, the 5 most popular kitchens of 2019 all had stainless steel appliances. With more and more people staying home and working remotely due to the COVID-19 pandemic, this will continue to be a widespread choice for those who have extra time to install new fixtures in their home. However, you might be wondering whether or not it’s worth taking the time to upgrade. Let’s break it down.

What Renters Love About Stainless Steel Appliances

  • They give kitchens a fresh, modern look. Like it or not, stainless steel is the look of the future. Renters spend a great deal of time in their kitchens, and they prefer a sleek, upscale style that makes the space feel welcoming and up-to-date.
  • They are more sanitary. Did you know that it’s difficult for bacteria to stick to stainless steel? This makes them the better, healthier choice for families (especially with little ones who like to touch anything in reach!).
  • They are long-lasting. Stainless steel is made of alloy, a metal comprised of several metallic elements. This means these appliances are built to be stronger and more resistant to most damage that can occur from everyday use.

What Renters Don’t Like About Stainless Steel Appliances

  • They can be pricey. Since stainless steel is so prevalent, there is a higher demand for it. That makes it the more expensive choice. Cheaper refrigerators, for instance, run about $400-500, whereas stainless steel refrigerators cost anywhere from $600-1,000. Renters may look for a place with cheaper appliances if they want a lower monthly cost.
  • They attract fingerprints. Most stainless-steel appliances usually attract smudges, so this may require more frequent cleaning. However, fingerprint-free stainless steel is now an option.

The Bottom Line: Is it Worth it?

While stainless steel appliances have few drawbacks, most renters prefer properties that have them. As a property owner, you might want to reflect on the current state of your appliances. Will they need to be replaced soon anyway? Are they starting to show some wear and tear? In that case, it might be worth taking the plunge. After all, it’s an investment; more people will be interested in your property if the space is appealing and maintained properly. If more people are eager to buy, that will surely up the value of your property as a result.

How All County Denver Metro Can Help

All County Denver Metro Property Management is here to help property owners have confidence in the quality of their tenants and the security of their property through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, call us today at (720) 575-6100.

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