By Yury Riguero
In today’s economy, most Canadians homeowners are eager to enter into the booming business of the rental apartment market. This is due to the never-ending increase of the growing population across the GTA. In return, homeowners are quick to turn their properties into lucrative businesses. However, one of the most important parts in running a successful rental business is choosing the right appliances for your apartment unit for rent. Most property owners can save hundreds and thousands of dollars in home appliance products when they understand the differences between new versus used appliances. Landlords must recognize the great importance that home appliances play in their rental apartment unit as home appliances affect the daily lives of their valuable tenants. They can choose to buy between new, or used appliances. The major differences between new and used appliances are their prices, and their warranty coverage. At our store Barcelona Appliances, located in south- central Toronto, you can save up to 65% when you buy used appliances over new ones anywhere else. You will also get 6 months protection on used appliances, and typically the standard is 1 year of coverage for new appliances at retail outlets. Buying new or used appliances will also depend on your “Landlord Budget”. Overall, landlords must buy what is most convenient to them in terms of price, quality, and reliability. New appliances can offer the landlord more security in terms of longevity of operation of the product, but used appliances can seriously challenge any of the benefits that new appliances offer. It is up to the landlord to choose. This blog will help you make up your mind, please enjoy!
How Important are Home Appliances?
Home appliances are an essential component of all rental apartment units. In fact, it is the standard practice for the property-owner to provide appliances that are clean, dependable, and strong performing to their valuable tenants. Appliances that bring a peace of mind to tenants and landlords alike should be a very high priority in operating your rental apartment business.
What are the Differences between New & Used Appliances?￼￼￼
In the argument of new vs. used appliances there are two major differences: the price, and the time of warranty for coverage on parts & labour in case the appliance breaks down in the future. The difference in price can be of 65% between our store’s used appliances and another retail store’s new appliances. For instance, a brand new 24 inch wide freestanding stove GE brand will retail for as low as $520, whereas a used (carefully restored to look like-new) 24’’ inch wide stove Frigidaire brand at Barcelona Appliances starts at $199. This is more than a 60% lower price difference if you were to purchase a used stove from our store. The warranty coverage is also different. New appliances are warranted for 1-year period, used appliances at our store are covered for 6 months in all parts and labour. Besides difference in price, most apartment size stoves have the same type of features, such as the manual switch controls, the four-burner electric coil profile, the oven with bake & broil options, and the storage drawer to keep pots & pans handy.
What is your budget?
When purchasing appliances, there are two types of landlords, one’s that always buy new appliances, and the one’s who purchase used one’s for their rental units. Typically the landlord who buys new appliances is the one who has a high- priced value apartment unit, where usually the tenant is characterized as being upscale and middle aged-professional that pays monthly rent that ranges from $2200 to $3400 per month. These landlords usually provide to tenants, upscale stainless steel appliances that have a high price tag and that can give the impression that the renter is getting the bang for their buck. These landlords spend anywhere from $5000 to $8000 for their upscale kitchen set. This is the “high-budget landlord”. Usually at our store, we do not cater to these landlords since our appliances do not belong to this kind of market. Rather we specialize with the second type of landlord that is constantly looking to save money while purchasing used, yet like new, reliable, and clean appliances goods. These landlords generally spend from $600 to $900 for a full used kitchen set in their rental property. They generally rent their apartment units at a monthly rate from $500 to about $2100. They usually provide white color appliances that are simple to use, basic in looks, and without all the bells and whistles typically found in the appliances from the more upscale apartment units.
Why is the refrigerator the most important appliance?
Whether you have a high or a low financial budget to run your rental property, you need to understand the importance of a refrigerator in your rental unit. Fridges are the best selling appliances in the market, and also they are the most important one’s of the appliances in the home. As they keep our foods fresh and healthy for consumption. Be aware that refrigerators tend to break more often than any other appliance in the rental apartment unit. This is due to the fact that they work 24/7 around the clock, and therefore they will encounter more operational problems than the other appliances. The intrinsic problems with refrigerators can turn into expensive repairs in the hundreds of dollars, starting with a technician’s diagnosis fee that can be from $50 to $120. You will need to work with the technician for a good viable appointment that works for them, since they are one of the busiest professionals out there. Once that a technician finds out the problem in your fridge, typically the price of the fix-up or of the repair can go from $100 up to $500. Aside from this, the landlord must notify their tenants within a 24 hours period to grant them permission to access the apartment unit. Resulting in even more delays if the tenant is not available to welcome the appliance technician into their home. Due to the complicated nature of this process, the landlord more often times is quick to find out that shopping for another refrigerator is more effective than repairing their current appliance.
Why buying a used fridge is better?
A brand new top mount refrigerator with a top freezer and a bottom fridge at an appliance store retails from as low as $600. Whereas at our store, a fridge with such brands as Whirlpool or Frigidaire can retail from as low as $199! Again that is about a 65% lower price tag for a used fridge versus a brand new refrigerator in the box. Landlords typically enjoy buying used refrigerators from our store since we clean and restore them so that they look and operate as new as possible.
Most new and used refrigerator models generally share the same features. They usually have automatic defrost and frost free systems, manual temperature controls, interchangeable hinges, interior wired food racks, convenient crisper drawers, and bars along the doors to hold canned and bottled items. When purchasing a fridge, the landlord only needs to choose the right size in inches by measuring the space in between the cabinetry where the refrigerator will go in. Also, the landlord should know the interior capacity that is needed for the tenants to conveniently store their groceries. For instance, a 12 cubic capacity fridge easily accommodates the needs for 1 or 2 persons, while a 15 to 18 cubic capacity fridge can be more suitable for 3 or 4 people living in the apartment. The landlord should not underestimate the size or capacity needed for the fridge in the rental property since this can cause a great inconvenience to their tenants.
Conclusions: Buy Used Appliances!
When it comes to shopping for home appliances for your rental property, the clear winner are the purchase used appliances. However, landlords should properly assess the qualities of a used appliance store since each store has its own reputation, customer reviews, and ways of doing business. For instance, make sure that the appliance store personnel works very hard to keep all appliances cleaned and in perfect working order as well as cosmetically attractive to the eye of the shopper. When unsure, and since you cannot judge a store purely based in on-line reviews or on the views of a handful of people, you should physically visit the store and check out the used products on sale. You can tell a lot about the used appliance store by looking at that store’s level of order and cleanliness within their premises. Aside from store profile and products, always make sure that everyone in the store treats you as the number 1 priority. Meeting your needs and demands should be the guiding principle for any salesperson. Used appliances are a prime example of how property owners can save hundreds of thousands of dollars without sacrificing quality, reliability, and efficiency of operation in their rental property. After all, it makes sense to save money and to provide to tenants appliances that look and operate like new, even if the item is not a brand new out of the box one. New appliances can be very expensive, and they can also face the same operational problems as used appliances. Although new appliances are attractive to buy since our market is driven by the values found in our “consumption society”, we should start and adopt an attitude that promotes the recycle and the reuse of valuable goods such as home appliance products.
Thank you for enjoying our blog & visit us today at Barcelona Home Appliances Corporation!
A young hard working & innovative Canadian entrepreneur, whose goal is to offer all customers affordable and reliable home Appliances for their homes and rental properties in Canada, begun Barcelona Home Appliances Corporation in the year 2010.
His love for Spanish football inspired him to name his business venture after his team: Barcelona F.C. Since then Barcelona Appliances has been thriving on the same principles as its football team: hard work & innovation, discipline, audacity, humility, optimism, passion, vision, common sense, leadership, and above all thinking on the good of the whole rather than on the individual. In this sense,
We are More than a store!
We are Leaders in the Retail & Wholesale of Home Appliances.
Our Specialty Products are appliances for Rental Apartment Properties, also known as Apartment Size Appliances.
Our Purpose is To offer affordable home appliances that are very reliable and of excellent quality.
Our mission: is to understand your appliance needs and demands and give you a peace of mind in every purchase you make from us.
Our showroom is located in the heart of South-Central Toronto. With over 2000 square feet of appliances, our store at 272 Geary Avenue is packed with apartment size appliances. Geary Avenue runs parallel north of Dupont Street & our store is West of Dufferin Street. If you need further information about our products please call us today at (647) 240-2905.
Over the years we have recognized that to survive in all parts of our business we need to be relevant, loyal, and appreciative of our customers. Therefore, we are a customer-driven enterprise. We thank our valuable customers for giving us the support we need to expand our business & we welcome new customers to come in and give us the opportunity to satisfy their appliance needs. Also, we would like to express our enormous appreciation to our precious suppliers of appliance goods. Our customers must know that our suppliers work very hard every day to bring us the best quality appliances in the market.
If you want to know more About Us please come & visit us today.
“WE ARE THE APPLIANCE CHAMPIONS!”
has a strong compromise with the earth