What are top cosemtic improvements to increase cashflow? Let's assume target tenant is middle to upper middle class..
Middle to upper class is a big gap where I am, but for middle class tenants this stuff usually suffices for cosmetic fixes:
1. fresh paint
2. new carpet, or re-finished hardwoods
3. Hire someone to do a deep clean
4. Put up some kind of trendy looking backsplash that is not that expensive
5. A new countertop, but not granite for middle class tenants
In our experience, middle class people who go to work every day just want to come home to a nice clean home in a good neighborhood that is quiet. The bells and whistles are not something they absolutely have to have, but when you show an effort as a landlord by doing the things I mentioned above it goes a long way with people and sets you apart from typical landlords.
people love kitchen and bath, that's what sells/rents. Open floor plans are great as well, it will benefit you because a unit will appear bigger then it actually is and your tenants will enjoy openess because it will create a pleasant environment for interacting within the unit.
clean tidy exterior plus outdoor lighting for safety
Thanks for the response. I see you are from Southington - have you heard of Heritage Hills (Somers NY). It's more of a White Collar Community. My condo (closing in March) has two floors. The floor with the kitchen and living room was completed renovated 3 years ago. SS applicances, maple cabinets, granite countertops, new moldings and casings throughout the floor. The floor with the two bedrooms is completely outdated (trim, casing, doors from the late 70s) but it very clean and freshly painted.
My thoughts are that i HAVE to renovate the bedroom floor: new trim and casing, new interior doors, possibly new carpeting. Also planning to replace all the windows throughout (the current windows are from the late 70s and have a pretty serious draft).
How much should i expect to spend on a deep clean? (1340 sq ft)
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