Real estate comps helped you determine your offer price. You have had an inspection done, or walked the unit yourself to determine repairs/renovations that are required. You’ve decided on your mortgage and have purchased the property. Repairs are being started. What do you need to do to make your unit rent ready?
How to attract tenants
All types of people like all types of things. That being said, you must make it a point to not decorate or renovate based on your tastes alone. Go with the neutral tones throughout the property. Make certain that your property’s kitchen and bathroom are in good condition. Always consider the point that an attractive property can attract better quality tenants.
It is important to ensure that the outside of the property is cared for as well. A fresh coat of paint, and basic lawn maintenance can do wonders for a property. It can also bring tenants to the unit.
In my last post in this series, I will chat with you about choosing if your new real estate investment property will be a long or short term for your investment.