Interior Blues
September 10th, 2009 by under Real Estate Investment. No Comments.
Remodeling the interior of a home seems a lot more stressful than the outside did. The inside of a home is what the tenant will see on a daily basis and at close quarters. So in an attempt to do things right, I was forced to take my time and in a few cases, hire out for help.
The carpet is usually the first thing to go in any rental property. If you plan on renting property, my advice to you is to get rid of the carpet asap! Otherwise you will likely be replacing it every time a new moves in. I have some low end rental properties and I have some high end ones. Location makes a big weighing on how much money you should spend on a quick remodel. My lower end homes see vinyl tile and formica countertops, while my higher end homes see ceramic tile and granite countertops.
I always paint between renters and have even offered a discount to renters who are willing to paint the inside of the home themselves. I try my hardest to give people back their deposit, but I can only do so much if its obvious that the tenant did not care about the property. I have a systems check that I do for every home and I always video tape my first walk through after a tenant is gone, and before another tenant rents the house.
I recently bought a cabin in the hill country that over looks the supai river and the view is gorgeous from the back deck. Since it gets so cold there in the winters and I wanted people to be able to see that view at any given time of the day or season, I added high grade exterior french doors with 12 panel windows that allow for viewing from inside the home at any time. I paid to have them installed as it is not an easy task.
I do as little as I have to but do as much as I can. Your tenants are only as happy as the home they are presented with. Show them that you care about your property and they will usually show the same concern in return. There are good renters out there, and by being a good land lord you would be surprised how many tenants will be referred to you. Be fair, and honest and stay on top of your properties and you will see a nice return in a short period of time.
