Advice about and upgrades and showing the house before repairs

Advice about and upgrades and showing the house before repairs

Flipper/Rehabber · Olive Branch, MS · Member since 2018 · 6 posts · 0 votes

Okay so I purchased my first rental property, yay! I paid a total of 39,154. The home rental value is somewhere between 700-800/ monthly. I listed it for 750 and have several people interested in the house who I have pre-screened! I decided to to list it for 750 because the upstairs bathroom is very small and has a low sloping ceiling which makes it quite unattractive and less functional! The home has been recently renovated! It needs a HvAC system which I have already received a quote for 4K, and plan to install it next week. I also plan to replace light, sink, and shower fixtures($200-300). Plus, replace the hot water heater ($700)! I showed two potential tenants the home today and the feedback they provided (after hearing what all would be replace) was that they didn’t like the miniature electric stove and  low sloping bathroom upstairs. The stove really isn’t an easy fix bc the washer hookup is located beside it and will require a certain amount of space. I really want to make a good impression on perspective tentants without breaking the bank! Should I replace the stove and let the tenant deal with the washer size? Or should i remain hopeful that a good tenant will be willing to rent the house despite these issues? Also should I be showing the house without all the upgrades? Needless to say neither vier was interested in applying for the home. Today was my first day showing the home! I still have 5-6 other showings schedule for this week! 

0Reply
12 views

3 Replies

Jump to latestLatest
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    Without seeing the entire home and knowing the demands of your market, it's hard to say. What's more important? A washer/dryer or a full-size stove? I would argue most people would rather have a washer/dryer.

    The sloped ceiling is less important for a secondary bathroom.

    The DIY Landlord Book4.7248 Reviews
  • Rental Property Investor · Member since 2018 · 207 posts · 225 votes
    7y

    I would add that I wouldn't be showing it until it is absolutely ready to rent.  People have no vision, and showing them an incomplete house that's not ready to rent virtually guarantees that they won't be submitting an application.

    As for the stove, if it's truly an issue, it's easier to move electricity than it is to move plumbing.  I'd think about moving the stove before I thought about moving the washer.

    I hope that helps.

    Good luck!

  • Flipper/Rehabber · Olive Branch, MS · Member since 2018 · 6 posts · 0 votes
    7y

    Thank you both! I’ve decided to delay  all showings until the home is complete! I’m also going to keep the stove bc an in unit washer and dryer is way more important than a larger stove! Wish me well! 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.