Jump Through the Bureaucratic Hoops<\/h2>\n
In many large, hyper-regulated cities, rental properties must be registered, inspected, and levied with fees — sometimes with more than one governing body. In my home city of Baltimore, landlords have a bare minimum of three sets of red tape. They must register all rental units with the City and pay an annual fee (of course). They must register all rental units with the State (the Maryland Department of the Environment), pay another<\/em> annual fee, and submit lead paint paperwork. This, in itself, is an expensive set of headaches: Every rental unit must be inspected and certified by an approved lead inspector\u00a0—\u00a0in between every<\/em> tenancy.<\/p>\n Check your local laws, and recheck them often, even if you think you know them. Being informed goes a long way in helping you avoid hassles, heartaches, and hurt profits later.<\/p>\n Related: <\/strong>How to Create a Rental Property Listing Geared Towards Top-Notch Tenants<\/a><\/em><\/p>\n Your next hard-knock landlording lesson: Most tenants won\u2019t do anything for your property unless you make it unbelievably easy for them. Stock up on the right size of air filter, and place them right next to the filter slot. Then, write down the exact filter size, write it on a sticky note, and put it on the refrigerator with the words, \u201cPlease remember, every 3 months!\u201d You might go so far as to set a reminder in your smartphone calendar to contact the tenant.<\/p>\n An independent and intelligent person might wonder, \u201cWhy do I need to write the filter size in several places and remind the tenant to change it?\u201d<\/p>\n Because otherwise, someone will find a way to mess it up.<\/p>\n If you have hardwood floors, they probably won\u2019t look the same after your first set of tenants moves out.<\/p>\n With that said, there are a few things you can do to try and protect them. First and foremost, write a very explicit clause into your lease agreement requiring renters to put felt pads on all furniture feet before they move in.<\/p>\n But like we just outlined, you need to make it easy on the renters if you want any hope of compliance. Buy a pack of felt pads (with a variety of shapes and sizes), and hand it to the tenant when you sign the lease package. Reiterate verbally the requirement that they put felt pads on all furniture feet, and tell them the first pack is \u201con the house.\u201d<\/p>\n As importantly, it makes it a lot easier for you to deduct money from the security deposit if they damage your floors. Wrap up that discussion with. “Believe me, I’d much rather have the property back looking like this than keep your deposit.” Friendly, but still a reminder it will cost them if they ruin your gorgeous floors.<\/p>\n Sure, those light Berber carpets might brighten up the room, but the slightest stain stands out like an escaping convict in a prison spotlight.<\/p>\n Consider mid-tone carpet colors, and talk to your carpet company about what they offer that hides wear and stains well.<\/p>\n One other trick is to spring for a plush, thick pad, but install lower-grade carpeting. A plush pad makes even cheap carpeting feel softer and richer, and doesn\u2019t need to be replaced between each tenancy (like carpets often do).<\/p>\n If you had $200 in your pocket to spend on boosting your property\u2019s asking rent, how would you spend it?<\/p>\n Think outside the box on this one. You want either uncommon upgrades that you can brag about in the listing or upgrades that add charm, luxury, or a certain je ne sais quoi.<\/em><\/p>\n One idea is smart home tech<\/a>. It\u2019s still uncommon enough to add a luxury flare to a rental listing, and most smart home upgrades cost less than $200. On the downside, it\u2019s one more thing that can break, and older renters may be more irritated than impressed.<\/p>\n I personally like installing quirky, charming hardware on kitchen and bathroom cabinets and drawers. For example, in my old home (which I converted to a rental property), I noticed the powder room sink was seashell-shaped. I decided to go full-kitsch: I installed seashell cabinet knobs, hung small shore-themed decorations, and painted the walls a breezy blue. The stone tiles on the floor were already sand-colored.<\/p>\n Related:<\/strong> 3 Upgrades That Add Little to No Value to Your Investment Property<\/a><\/em><\/p>\n It may sound tacky on paper, but it was routinely described as \u201cadorable!\u201d by visiting women. (I think I heard an approving grunt once from a male friend, but I can\u2019t be sure.)<\/p>\n People love little touches and details. Sure, everyone covets the big-ticket items like gleaming marble countertops, but little touches like memorable cabinet knobs go a long way in adding charm. They\u2019re also priced with a single digit, rather than four. Semi-gloss paints cost marginally more, but they scuff less easily. It\u2019s also far easier to wipe spills and other marks off of them, making them more likely to survive multiple tenancies.<\/p>\n All too often, landlords need to repaint in between every tenancy, which can be a profit-killer. Boost the odds that you can paint between every other tenancy, not every single one.<\/p>\n It\u2019s a bitter pill to swallow, but the simple fact is that tenants are interested in their own comfort, not in the long-term care and value of your beloved home. And who can blame them? Rational people behave based on incentives, and tenants just aren\u2019t very incentivized to treat your home with kid gloves.<\/p>\n This is not to say your renters will flagrantly abuse your property; hopefully, they won\u2019t. As you prepare your house for renters<\/a> you need to think defensively and make the rental home as indestructible as possible. Renters will put some mileage on your once-gleaming home, so fortify it to withstand as much damage as possible.<\/p>\n![\"are-liens-public-record\"](\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/08\/are-liens-public-record.jpg\" "\\"\\"")
<\/p>\nStock Up on Air Filters<\/h2>\n
Protect Your Hardwood Floors!<\/h2>\n
When Replacing the Carpets, Think Defensively<\/h2>\n
Brainstorm Low-Cost, High-Glamour Touches<\/h2>\n
\n![\"how-to-stage-a-house\"](\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2015\/06\/how-to-stage-a-house.jpg\" "\\"\\"")
<\/p>\nIf Repainting, Use Semi-Gloss<\/h2>\n
![\"\"](\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2017\/08\/blog_ads-01.jpg\" "\\"\\"")
<\/a><\/p>\n