Article
June 02, 2009
Tips & Tidbits
Improving and Converting Rental Property Investment
For landlords considering the purchase of a “fixer-upper” rental property, they should factor in their estimate of initial out-of-pocket costs for renovation to determine if the purchase price seems fair.
When inspecting the property, landlords should consider the following list of issues that are easy to address:
• Peeling paint
• Sagging gutters that need replacing
• Minor roof repairs
• Badly stained carpet
• Building neglected, but occupied
• Overgrown landscaping
• Dated lighting
• Old window coverings
• Minor plumbing upgrades
Below is a list of issues landlords should avoid to prevent an expensive and time-consuming rehab:
• Structural problems
• Roof in need of replacement
• Floors in need of replacement
• Building abandoned for more than one year
• Dated electrical systems
This tip was published on CompleteLandlord.com
on March 13, 2007. CompleteLandlord.com publishes a weekly tip on http://www.completelandlord.com to help landlords be more profitable and productive with their rental units.