American has over 44 million rental households and a constantly fluctuating rental market.
If you’re a landlord, you’re likely worried that big-ticket items like new, name-brand appliances will get ruined quickly. And if you’re a tenant, you don’t want to invest in large items if you’ll have to move from place to place.
So what’s the solution? Why, appliances for leasing, of course! You get all the benefits of high-quality washers, dryers, ranges, and refrigerators with none of the commitment.
Read on for the low down on what you need to know about leasing appliances for your family or your tenants.
Steps to Leasing Appliances
Say you’re looking for a washer and dryer for leasing in Dallas, Texas. Do you know what the leasing process looks like? It’s a good idea to get familiar with the steps before you sign that lease agreement.
Decide Which Items
First, you need to decide which appliance (or appliances) you want to lease.
For example, if you’re tired of wasting your time at a laundromat once a week or more, it’s probably time to lease a washer and dryer. If you’re spending too much money on takeout food, you might want to rent a bigger fridge or freezer.
Next, make a list of the features you want on your new appliance and the brands you prefer.
Of course, landlords aren’t required to provide appliances for their tenants. But they can make your rental more attractive, primarily if you’re catering to students or young professionals.
If you’re not sure if the costs are correct for you, hunt around online for a lease calculator. These usually free tools will help you compare leasing an appliance versus buying it outright.
Select a Plan
Companies that lease appliances offer a wide range of plans and options for consumers.
Typically, there will be a few different payment durations, amounts, minimum and maximum lease times, and interest. You could also consider lease-to-own (also known as rent-to-own) options if the leasing company offers them.
Once you’ve decided on a plan or an appliance you like, go over the terms and conditions with a fine-toothed comb. Ensure you understand any penalties, such as late payments, interest (in the case of rent-to-buy), and repair responsibilities, among other contract terms.
If you’re unsure about anything in the plan, don’t be afraid to ask the service professional you’re working with for clarification.
Make an Application
Thankfully, a credit score is typically not taken into consideration when leasing appliances. Instead, you just need to be ready to commit to the terms outlined in your lease agreement and bring along some identifying information.
Depending on the company, these might include:
- Over the age of 18
- Proof of regular income
- Proof of permanent residence
- Photo ID (within the expiry
- A working phone number
- A working contact email
- Social security number or ITIN
So long as you meet the basic requirements listed above, you won’t need to worry about waiting for credit clearance or any other qualification issues. There are usually also no application fees. All you’ll need to do is sign your name, and the item is yours to lease for the contractual period.
Prepare Your Home
Typically, you’ll need to make your first lease payment, and then the appliance will be delivered to your home.
Before that happens, you’ll want to make sure there’s a space for the delivery team to place and hook up your item. For example, in the case of a washer, you’ll need access to plumbing pipes. And in the case of a dryer, there should be venting available to remove damp air.
Make sure there’s somewhere for the delivery van to park near your home. And you’ll need to guarantee a clear path from the driveway or front yard to the room the appliance is located in.
If you live in a walk-up or take an elevator to your home, tell the leasing company in advance of delivery.
Reasons to Lease Appliances
Are you looking for a reason to consider a washer and dryer for leasing in San Antonio, Texas (or anywhere for that matter)? The benefits include everything from not having to fork out a ton of cash upfront to having all repairs taken care of for you.
No Large Upfront Payments
One of the most significant benefits of appliance leasing or rent to own is the installment payment options. In some cases, you might not be able to afford the large up-front payments required to buy new, top-brand appliances.
Appliance leasing can help you stick to your household budget even when it’s tight.
Great for Those Who Move Often
If you are a student or someone whose job requires you to move often, leasing offers you the freedom to quickly pack up and go.
You can keep your belongings to a minimum and avoid the hefty fees that moving companies typically charge for bulky or heavy items. The new home you move into might already have some appliances, so you don’t need to take your previous leases with you.
Leasing offers on-the-move singles, couples, and families unparalleled flexibility. Simply return the appliances to the rental store before you leave.
No Need to Pay for Repairs
In the appliance lease agreement, there will be some T&Cs regarding repair. Generally, if an appliance breaks down through general wear-and-tear or a manufacturing fault, the leasing company is responsible for fixing it.
Of course, there are some caveats to this. Never try to repair an appliance yourself, as this may void your contract. And if the damage has been caused by you or a member of your family, you may still be liable to pay for the repairs yourself.
Also, remember to inspect the appliance for faults as soon as it first arrives at your home. If you notice anything, write to the leasing company immediately.
Appliances for Leasing: Solutions for All
As you can see, appliances for leasing offer a handy solution to anyone looking for top-quality kitchen and laundry machines at affordable prices. If you’re regularly on the move, looking to furnish a home for tenants, or just don’t want to commit to a forever purchase, consider leasing your washer, dryer, and more.
Are you looking for appliance leasing in Austin, Texas, and surrounding areas? Contact A&A Appliance Leasing today with your service request.