I have a 1 bedroom apartment, people rarely cook. In case they need an additional pot, pan or something for the house, the guests let me know, they buy what they need and I refund them. When I was a new host this method was very helpful.
I inspect everything monthly (or after each guest) and replace what needed.
That said some are 6 years old (kettle to boil water) others, like pancake pans usually last 2-3 years. Some are older, because I bought my condo with furniture and fully equipped kitchen.
I noticed that guests tend to be more respectful of the property when they feel like they are staying in a comfortable, homey environment, compared to a sterile hotel-like atmosphere.