I am planning to have my house rented out. Should I remodel it first before having it rented out.
By
on
July 15th, 2009
Should I do some fixing of the house like repainting the walls, landscaping the garden, remodeling the kitchen, etc before having it rented out. or should I leave it as is and have a lower monthly rental rate.
Katie says:
Maybe paint, but they’re just going to ruin the house anyway. Don’t waste money on something they might break or kill.
July 15th, 2009 at 11:01 am
Heather says:
that depends on how much money you want per month. people are willing to pay more if the house is nice. as far as the landscaping goes, it should be up to the tennant to mow and all that, i wouldn’t worry about planting things because they may neglect it. it is entirely up to you. if the house is in bad shape, you will only get shitty people renting it. that means that you will never get your rent on time and it is no fun. but clean means clean people.
July 15th, 2009 at 11:52 am
sophy f says:
no dont cuz they r just going to put there own stuff in it and everything. they might even paint it with your permission
July 15th, 2009 at 12:26 pm
freezianfire_94 says:
if you want to have more income then you can remodel it. because more boarders will be interested on it. on the flip side, it will cause you money though in repairing it.
now if you will just leave it as before., it would be not nice to look at and it will not be attractive,. but you can save money though.
mmmm. as for me. it’s better to remodel it, but try it in a cheaper way, in such way money will not be easy thrown away like that. moreover, income will suffice the expenses. cause if the house is attractive, comfortable and beautiful ob course you’ll have them to pay a high price. hope this will help.
July 15th, 2009 at 1:10 pm
MeLi Eli<3 says:
Well if you want to make sure u get a good rental price I would do some fixing up, if need be. But if you are FLEXIBLE then leave it as it is.But the one thing is if there are any leaks(pipes,roof,ect). Broken windows, yards a mess, or appliances that don’t work. you might want to fix those problems. because renting can cause problems. The people might move in and all of a sudden there calling you saying you need to fix it or we are not paying rent. if there are some little problems that can be resolve easily let the renters know about it and have some agreement that they can fix it them selves and lower the rent or you can have it done but you want the price you are asking for.
July 15th, 2009 at 2:02 pm
MamaBas says:
It’s a fine balance between going ott with doing a place up, and leaving it, with the resulting drop in income/rental appeal. My sister put monies into three properties, and brought them up to an acceptable standard (with advice from her Agent) - the old magnolia paint do, and general tidying up so they would appeal to the punter, and let quickly. Down time = loss of income and all that.
On the other hand, they brought another property which they plan to live in once retired. They decided not to put much into upgrading immediately, because they didn’t want the new things to be used by tenants (and possibly ruined), preferring to leave it and renovate it before they moved in themselves. That situation was slightly different because they bought it from people who then became their tenants. Best of all worlds.
The choice is yours really, but I’d do a basic clean up for kerb appeal, and leave it at that. And it does depend on what your end intention for the property is - if you are going to sell it eventually, or live in it yourself, to some extent.
ps I’m a tenant lolol.
July 15th, 2009 at 2:45 pm
CiCi says:
I would do the least expensive ’spruce-up’ as possible. Painting is a cheap easy way of making an area look like new. Apartment dwellers want a place that is move in ready. Go to Lowes, Ace Hardware, Janovic, Home Depot, maybe even Sears.They have “Oops Paint” for like $5 to $10 /Gal. You’ll see the $$$ returned to you with higher rental value. They also have plants and mulch that is in need of care. Perennial may not have lots of pretty flowers, but they have greenery. Mulch just looks neater than dirt. You can spruce up the house, depending on the size for under $500. if your frugal and do not mind a little sweat equity, you can get every dime you deserve.
July 15th, 2009 at 3:30 pm
chatsplas says:
Don’t remodel before renting.
But some cleaning and refreshing is in order to make it desireable. That means, cleaning and washing down walls and painting.
Check in to tax issues as well and keep good records.
http://www.irs.gov schedule E
July 15th, 2009 at 4:27 pm