Investor · Bethlehem, PA · Member since 2016 · 929 posts · 951 votes
4y
@Account Closed you're overthinking this. Just get the unit in decent shape and put it on the market. You can always adjust some features later, but don't let these little details slow you down.
The answer to your question is YES, recessed lighting looks more modern, BUT it's not necessary.
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
4y
Quote from @Account Closed:
Hey BPers.
I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.
I'm circling back to it and my question is this (see picture).
There are 2 light fixtures on the sidewall that really make the place look dated.
There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead
4 can lights in a square pattern.
I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.
Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?
Do overhead can lights increase desire from the rental prospect?
Thank you for your knowledge and experience! Dan
I think it depends on where this is located. What is your market? What do is get on Facebook and post a poll and ask what potential tenants would like. I will specifically do it in the area that my rental is in. I have gotten amazing feedback and it has really helped me choose different cosmetic updates. Have you looked at other close by rentals? How do they compare to yours?
I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.
I'm circling back to it and my question is this (see picture).
There are 2 light fixtures on the sidewall that really make the place look dated.
There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead
4 can lights in a square pattern.
I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.
Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?
Do overhead can lights increase desire from the rental prospect?
Thank you for your knowledge and experience! Dan
I think it depends on where this is located. What is your market? What do is get on Facebook and post a poll and ask what potential tenants would like. I will specifically do it in the area that my rental is in. I have gotten amazing feedback and it has really helped me choose different cosmetic updates. Have you looked at other close by rentals? How do they compare to yours?
Thanks Steven,
It is a really good location. The best location within 15 miles.
There is a huge block of higher-end luxury apartments they built above the Whole Foods which is a block away from mine. They all rock recessed lighting.
They are renting for about 2800/m for a 3bed/1 1/2 bath.
I'm trying to swing in around 2100/m and am trying to put some polish on the place to get it up there.
Right now I think the product I have can rent around 1800/m and sell quickly. My goal is to break into that higher-tier customer.
Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
4y
First off, you can't have something sit 9 months and then start to remodel it. That's $18,000 in lost rent. You screwed up massively here. You could have turned this place over to someone to handle the remodel and get it rented and had all that paid for with the rental income. That's the type of move that can put you out of business.
No one wants to rent a dark space, so canned lights will increase the appeal. It might be better to update the wall sconce and put it and the canned lights on a separate switch.
First off, you can't have something sit 9 months and then start to remodel it. That's $18,000 in lost rent. You screwed up massively here. You could have turned this place over to someone to handle the remodel and get it rented and had all that paid for with the rental income. That's the type of move that can put you out of business.
No one wants to rent a dark space, so canned lights will increase the appeal. It might be better to update the wall sconce and put it and the canned lights on a separate switch.
Yeah tell me about it. My other business really took off during that time though, so it was worth letting it sit for 9 months while I focused on putting my buckets out while the rain was pouring! Didn't want to risk losing that income stream for a much smaller one. Now that things calmed down I'm getting back to it.
Thanks for idea of leaving the scones in and getting the overheads!
I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.
I'm circling back to it and my question is this (see picture).
There are 2 light fixtures on the sidewall that really make the place look dated.
There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead
4 can lights in a square pattern.
I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.
Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?
Do overhead can lights increase desire from the rental prospect?
Thank you for your knowledge and experience! Dan
I think it depends on where this is located. What is your market? What do is get on Facebook and post a poll and ask what potential tenants would like. I will specifically do it in the area that my rental is in. I have gotten amazing feedback and it has really helped me choose different cosmetic updates. Have you looked at other close by rentals? How do they compare to yours?
Thanks Steven,
It is a really good location. The best location within 15 miles.
There is a huge block of higher-end luxury apartments they built above the Whole Foods which is a block away from mine. They all rock recessed lighting.
They are renting for about 2800/m for a 3bed/1 1/2 bath.
I'm trying to swing in around 2100/m and am trying to put some polish on the place to get it up there.
Right now I think the product I have can rent around 1800/m and sell quickly. My goal is to break into that higher-tier customer.
That is great. I would do the recessed lights then and maybe throw in some thing that’s in style? I know it’s hard because style seems to always come and go. It sounds like you have a great property though and you are thinking through things as well.
Investor · Bethlehem, PA · Member since 2016 · 929 posts · 951 votes
4y
@Account Closed you're overthinking this. Just get the unit in decent shape and put it on the market. You can always adjust some features later, but don't let these little details slow you down.
The answer to your question is YES, recessed lighting looks more modern, BUT it's not necessary.
Investor · Nutley, NJ · Member since 2017 · 72 posts · 56 votes
4y
First off, easy for me to say because I don't know how busy you are BUT you must do everything you can NOW to get the place rented. You're losing income.
As far as the canned lights, yes, they're better than wall sconces but you need to look at your competition and market. For examples, if you're trying to get $2,000 per month and all your competition is exactly like your apartments except they have canned lights, maybe it's worth it. Also, if you're in a high-end market, then I would say yes, add the canned lights.
Personally, unless you're in a high-end market, I would just update the sconces and try to rent it now. If you're not getting tenants at the rent you want (don't wait past 1 month of not renting), make sure to get their feedback on why they don't want to rent it. If they say bad lighting, then add the canned lights.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
4y
@Account Closed I don't think you need to but short of nothing you could update the fan and sconces to something more modern. If you are selling that is a different story but for rentals thats not too bad. Your issue with updating the fan to something with a light is clearance. White and light colored wood is popular these days so you could change of paint the blades. I wouldn't be bothered by sconces except they sometimes interfere with furniture placement.
I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.
I'm circling back to it and my question is this (see picture).
There are 2 light fixtures on the sidewall that really make the place look dated.
There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead
4 can lights in a square pattern.
I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.
Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?
Do overhead can lights increase desire from the rental prospect?
Thank you for your knowledge and experience! Dan
I think it depends on where this is located. What is your market? What do is get on Facebook and post a poll and ask what potential tenants would like. I will specifically do it in the area that my rental is in. I have gotten amazing feedback and it has really helped me choose different cosmetic updates. Have you looked at other close by rentals? How do they compare to yours?
Thanks Steven,
It is a really good location. The best location within 15 miles.
There is a huge block of higher-end luxury apartments they built above the Whole Foods which is a block away from mine. They all rock recessed lighting.
They are renting for about 2800/m for a 3bed/1 1/2 bath.
I'm trying to swing in around 2100/m and am trying to put some polish on the place to get it up there.
Right now I think the product I have can rent around 1800/m and sell quickly. My goal is to break into that higher-tier customer.
That is great. I would do the recessed lights then and maybe throw in some thing that’s in style? I know it’s hard because style seems to always come and go. It sounds like you have a great property though and you are thinking through things as well.
@Account Closed you're overthinking this. Just get the unit in decent shape and put it on the market. You can always adjust some features later, but don't let these little details slow you down.
The answer to your question is YES, recessed lighting looks more modern, BUT it's not necessary.
First off, easy for me to say because I don't know how busy you are BUT you must do everything you can NOW to get the place rented. You're losing income.
As far as the canned lights, yes, they're better than wall sconces but you need to look at your competition and market. For examples, if you're trying to get $2,000 per month and all your competition is exactly like your apartments except they have canned lights, maybe it's worth it. Also, if you're in a high-end market, then I would say yes, add the canned lights.
Personally, unless you're in a high-end market, I would just update the sconces and try to rent it now. If you're not getting tenants at the rent you want (don't wait past 1 month of not renting), make sure to get their feedback on why they don't want to rent it. If they say bad lighting, then add the canned lights.
@Account Closed I don't think you need to but short of nothing you could update the fan and sconces to something more modern. If you are selling that is a different story but for rentals thats not too bad. Your issue with updating the fan to something with a light is clearance. White and light colored wood is popular these days so you could change of paint the blades. I wouldn't be bothered by sconces except they sometimes interfere with furniture placement.
I have a hard time believing that bad lighting is the only thing keeping renters away. There are plenty of people who will rent a place with bad lighting if it's priced less than other units. However in that context you could certainly be asking for too much money relative to similarly priced units at which point yes, if you can get yours to that level for a few thousand bucks it's well worth it.
Investor · Philadelphia Metro · Member since 2019 · 44 posts · 75 votes
4y
As is everything it depends on your rental market, but I would also be extremely surprised if a lack of canned lighting is holding back a rental in all but the top of the luxury end of the rental market. If the higher end of the market is $2,800, and you think you can get $1,800 right now there is a world of difference in $1,000 a month in rent. No way that recessed lighting is worth a $1,000 bump in rent let alone $300 between $1,800 and $2,100.
Which means there is probably much more between your unit and the units that are renting at $2,800 a month. Full houses, sq footage, proximity to shopping/desirable locations, walkability, other amenities (higher end apartment complexes often have things like dog parks, grooming, on-site fitness, hotel style front desk concierge services etc.). You are probably not renting to the same person who is spending $2,800 a month to live in a luxury apartment above Wholefoods, which is why shouldn't try to compete for the same renter (you most likely can't compete with the style, and suite of amenities in that type of apartment).
From a marketing perspective you should identify your target customer (renter), and identify what makes your property unique or best aligned for that renter. Maybe it's the person/couple who could afford $2,800 a month, but wants to save money for a down payment on a purchase. Maybe your unit offers more privacy/fenced in back yard which is perfect for a family with young kids who can play outside without worry. You should focus on doing the things to your unit that would make those individuals most likely to rent.
If you don't know what those features and amenities are in your market you could put it for rent and then solicit feedback as others have said, or you could also call a few local property managers, investors, real estate leasing agents, and ask what they are seeing for rents, and features that your target renter is looking for.
The posters who are outlining getting the unit up and rented as soon as possible are correct. You are losing out on $1800 a month in revenue for each month that you don't rent the unit.
Rental Property Investor · Jersey City, NJ · Member since 2011 · 1k+ posts · 876 votes
4y
Jeez, just replace the fan with one with a 3 or 4 bulb light fixture and put in bright bulbs! Depending on the mfr you might be able to just add it lights to that one. I love ceiling fan fixtures for this reason, they throw a lot of light all over, makes a room look bright, I hate ceiling cans. Funny thing is most of my tenants either don't replace bulbs when they burn out or put in dimmer bulbs, they don't like it as bright as when I show it! I'd replace the sconces with some directional fixtures that can be reading light.
Rental Property Investor · Cincinnati, OH · Member since 2019 · 120 posts · 68 votes
4y
I would see comparable rentals in your area. What does your 1300 dollar investment yield? If your able to receive 25% payback per year with rent increases then it's worth it.
Rental Property Investor · Savannah, GA · Member since 2019 · 66 posts · 30 votes
4y
@Dan B.
Just an idea, instead of doing the can lights how about switching the fan for a fan with lights, that would fix the lack of ceiling lights, probably a lot less expensive and adding the can lights.
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
4y
I don't think the sconces make it look as dated as the ceiling fan. If it is off-center in the room it is going to look odd (unless there's a second one to balance it out), and it doesn't have any overhead lighting; your room looks really dark in that photo and dark houses and apartments are rental killers.
I think you generally have a good idea, though. I would leave the sconces - a lot of people might like them - but take down the fan and add recessed lighting (LED retrofits are the easiest to deal with). Ceiling fans in rentals are a PITA anyway; we always take them down when they die. Tenants never clean them so you end up with dirt pancakes on top of the blades, and unless you get good ones they end up wobbling or squealing. I personally love ceiling fans - I have them in every room in my house except the dining room - but I only buy high-end, high-quality ones. I have a Hunter "oil" type (where you add oil occasionally) in my living room that has been running almost non-stop whisper quiet for almost 30 years. You're probably not going to put those kinds of fans in your rental.
@Account Closed you're overthinking this. Just get the unit in decent shape and put it on the market. You can always adjust some features later, but don't let these little details slow you down.
The answer to your question is YES, recessed lighting looks more modern, BUT it's not necessary.
I agree with Jon, and after losing all this rent while it’s sitting I surely wouldn’t spend $1300 on some can lights.
Ceiling fans in rentals are a PITA anyway; we always take them down when they die. Tenants never clean them so you end up with dirt pancakes on top of the blades, and unless you get good ones they end up wobbling or squealing.
I've read this here many times, and yet have very few problems with the many low end ones I've installed. Tenants seem to like them, I think they're a plus when showing the unit.
Rental Property Investor · Beavercreek OH · Member since 2018 · 422 posts · 970 votes
4y
Quote from @Account Closed:
Hey BPers.
I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.
I'm circling back to it and my question is this (see picture).
There are 2 light fixtures on the sidewall that really make the place look dated.
There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead
4 can lights in a square pattern.
I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.
Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?
Do overhead can lights increase desire from the rental prospect?
Thank you for your knowledge and experience! Dan
Of course can lights will help. Anything that brightens up a dark space helps.
If your paying 1300 bucks you are getting ripped off. You can get an eight pack of LED ceiling lights on Amazon for about a hundred bucks. Using the existing circuit from the sconces or the ceiling fan should cost another couple hundred to drill the holes and repair the holes where the existing fixtures were. if my contractor quoted me more than 3 or 4 hundred bucks, I'd fire him on the spot.
