When you turn your house into a rental property you have to consider which improvements help you get the most value. First you will have to make sure that your property is clean from toxins such as mold. Then you will want to figure out how to attract renters who will pay on time and not cause problems. Updated flooring and clean bathrooms go a long way. Decide whether you want to make your property pet friendly.
- Define your goals in a clear manner regarding the property and set up a workable plan to achieve set goals.
- Learn about the mandated property upkeep that you are required by law to carry out, before taking up more expensive projects.
- Do not spend all of your home improvement budget only on the immediate needs of the property.
“Most of the time, updating and improving the property is a wise decision, but only if the changes meet the expectations you have for the rental property.”