Hi BP Fam,
I have a 3/2 duplex in San Antonio and one side will be moving out at end of the month. The property was built in 2007 so it is fairly new. What 'cosmetic' changes would you make after the first tenant moves out? New paint is a given. What color do you like? I was going to add ceiling fans in each bedroom and in the living room, new fixtures in the bathrooms and kitchen, new nobs on the doors, re-glaze the tub. What about painting the kitchen cabinets and bathroom vanities? What else can I do to get the most bang for my buck?
Also what other services would you schedule while unit is empty? A/C maintenance?
Thank you in advance for your help!!
@Elin Trinh what part of town is it in? The optimal finish levels vary a ton by location here in San Antonio. In some areas, you'll get the full benefit of a nice renovation while in others you will be better off making sure everything is clean and in working order. It mostly depends on the price point, but I also find that rents in certain neighborhoods are more sensitive to nicer finishes than others.
Pretty broad question and so hard to give specifics. Generally speaking kitchen and bathrooms rate #1 and #2 for both tenants and homeowners. Always pay attention to the front of the home for maximum curb appeal. Giving the mechanical systems a looksee is a great idea and one often overlooked. While it probably will not help you attract a tenant can save you thousands down the road so good one! I would look at other rentals in the area online and see what they are doing. That will give you an idea of the local trends. Not just rentals, but sales as well. They will tell you what color is hot and if fans are in or out etc.....I think that is where you will get the best ideas from.
You probably only need to do one/a few of those things to get the most bang for your buck. Most of that stuff doesn’t increase revenue, but it may make your unit rent faster/to a better quality tenant which does improve your bottom line. Be selective, don’t go all out. After being one of the early adopters of grey paint I’m moving away from it as it has become too trendy. I’m liking a very faint yellowish off white lately (cream or creamy from sherwin Williams).
Do you have any photos of the current condition of the property?
hard to answer without seeing the condition. Kitchens are the most important, followed by bathrooms. You already rented it, so I assume it's in decent shape. Maybe all you need to do is ensure it's clean and functional?
Hi @Joseph Cacciapaglia - thank you for your response. My rental is in Bexar County. The rent for the 3/2 is currently $900/mon. I plan on increasing it to $1100 with the next tenants.
@Scott M. - thank you so much for the suggestions. I will definitely take a look at was is happening in the area.
@Max T. - thanks for your paint suggestion. I will take a look. Good to know where the grey paint trend started ;)
Hi @Aigo Pyles - the only pix that I have are the ones from the inspections. Going to have a virtual walk thru after the tenant moves on 06/30.
Hi @Nathan G. - Kitchens & Bathrooms are clutch!! The tenants that are in there had leases from before my time. My goal is to increase the rent for the next tenants.
Definitely paint the cabinets, add fancy knobs and add a backsplash, even if it's just peal and stick! Kitchen is #1-- then I'd add fans.
Hi @Linda S. - thanks you SO much for your suggestions!!