should we spend $$$$ for beautification

Question

Slow to generate interest and committment for a property in Seffner, Florida. We are tempted to increase curb appeal. landscaping and facade improvement to generate more interest. 2,500 4/3 mother in law bonus. it looks like maybe 20-25k. concerned about recouping. Is there a formula to determine good idea/bad idea? 4 other props in Tampa area, renting pretty well.

Nathan Gesner · Answer

Are you sure it's the curb appeal? Are you priced right? Have you received feedback from multiple sources?

If the property rents for $2,000 a month, each month of vacancy will cost you $2,000. Ten months of vacancy equals $20,000.

If you can spend $20,000 on the landscaping and reduce the vacancy or increase rent, how long would it take to break even?

$20,000 is a lot of landscaping, which indicates this must be in pretty rough shape. I agree that a couple pictures would help.

Scott Mac · Answer

curb pic from google street view (???)

should we spend $$$$ for beautification

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