I am closing on my first rental 3/1 1000sf and the carpet is decent. I am considering putting in LVP throughout to make it appear larger and in hopes of maximizing the rent. Thoughts?
Not sure that installing laminate will maximize rental rates but it is more durable and visually appealing. I'd keep the carpet in the bedrooms though and install laminate in main living areas and flow through the kitchen (unless there's existing tile in the kitchen).
@David Harper , freshening up the unit will maximize rents. If the carpet is just "decent" you may turn off some good tenants. What's the cost to put down LVP?
@Jaysen Medhurst I have a friend who runs a flooring business and can get the laminate installed for $1.50/ft. He is currently on the lookout for clearance material trying to get it at $1/ft. Otherwise it would be $2.50 for the high end LVP.
@David Harper , $1k-$1500 is pretty reasonable. I think it's worth it.
Hello, I recently installed LVP throughout an 2 family/house-hack which I acquired earlier this year. My original plan was to install LVP flooring in the kitchen and living room, and to keep the existing carpets in the 2 bedrooms after I shampooed. However I was so satisfied with how great the LVP looked, and like the robustness of its lifetime warranty, that after I shampooed the carpets I shortly ripped them out and installed more LVP!
The LVP I acquired came from lumber liquidators (Tranquility Ultra 5mm Rustic Reclaimed Oak LVP), From a landlord prospective the LVP option will provide my rental with an longer lasting floor between tenants, carpets tend to wear out and do not tend to last for more than 1 or 2 tenants......I have another property which has a 3 bedroom and just had a tenant move out. I am in the process of remodeling this unit, and will be going with LVP throughout on this property. Hope this helps.
If it ain't broke, don't fix it. What return do you expect to get out of this from your current tenants?
@Justin VanDervort it was bringing $950 I’m hoping to get it to $1100