Real Estate Agent · Hamilton, NJ · Member since 2013 · 464 posts · 311 votes
8y
Below is a link to Home Depot's website on the price. I've heard that Luxury Vinyl Planks are the way to go! Lots of investors are using them nowadays.
Chicago, IL · Member since 2018 · 6 posts · 6 votes
8y
I agree wholeheartedly regarding the installation of luxury vinyl plank flooring! It's beautiful, durable, and easy to install and maintain. It truly is the best, most cost effective option for a rental property.
Given any choice, I prefer triple-polyurethaned-in-place solid oak and tile for my own low-cost rentals. I believe this is by far the wisest choice IF you plan on owning the rental for years AND you know how to do a good installation yourself/are willing to learn AND you or your own employees do your own flooring maintenance over those years under your watchful eye, not a third-party contractor. It takes time and it takes effort to learn how to install tile and hardwood and floor trim. It's worth it to a landlord who fulfills the criteria above.
BUT, if you have a third party doing maintenance, and you as the landlord don't know tile and hardwood, and you're a million miles away trusting that your expense reports indicate the work and materials that really went into your floors, you will get fleeced with tile and hardwood, however honest you feel your property manager is. It would take a saint to resist ripping you off, and that saint would not be the patron saint of builders, St. Joseph. Old Joe would have been right there with his holy hand out to feed his family.