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Erin Schaefer
  • Investor
  • Richmond, VA
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Need help adding tenant value to turnkey property

Erin Schaefer
  • Investor
  • Richmond, VA
Posted

I'm purchasing my first rental property - this is a long-term equity play not cash-flow heavy by any means... I'm trying to find creative ways to provide added value for tenants to get the highest possible rent for the area. I'm not being unrealistic with my projections but would like to set my property apart from other rental units and make it a better living experience for the tenants.

This property has granite, updated kitchen, bathrooms, etc. It's in an HOA so there are limitations to the exterior.

Initial ideas I had:

- update fans to modern design

- update wall outlets to usb near beds/kitchen etc.

- paint patch walls through out

All suggestions are welcome. We are going to market it as a LTR and/or furnished MTR (it's very close to 2 hospitals)...


Thanks in advance

  • Erin Schaefer
  • Most Popular Reply

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    Eric Gerakos
    • Investor
    • Costa Mesa, CA
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    Eric Gerakos
    • Investor
    • Costa Mesa, CA
    Replied

    The property location will have the biggest impact on rent and appreciation. 

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