Property owners are often told that home improvements are the key to more profit. You can quickly find a myriad of articles and videos that claim to know which upgrades they should be focusing on the most. We decided to think outside the box and look into the improvements that aren’t worth the cost.
Uplift Property Management has the experience and the passion to turn our real estate dreams into reality. Over the years, we have learned which upgrades are worth the cost upfront and which upgrades usually leave you in the red. Here are some of the improvements we think you can avoid.
Adding a Pool or Spa
A pool can seem incredibly attractive when touring a property, especially in the warm San Diego climate. Nevertheless, it can be a major expense if your home doesn’t have a pool or spa already. Costing upwards of $50,000, it’s an investment that will likely never pay off.
You should also be aware of the hidden expenses a pool can bring. Pools generally require maintenance and you will need to hire someone for this since tenants are not known for keeping pools in great condition. Lastly, sometimes pools and spas can dissuade certain families with young children because of the added danger. This leads to less interest in your property.
High-End Paint
You will be required to repaint almost every time you change tenants. With this in mind, it may be tempting to spend more on paint or the painter with the hopes that it will last longer and look more aesthetically pleasing.
Truth is, most tenants will be putting something up on the wall with nails or screws. They also push furniture up against the wall leaving marks when they are gone. Touchup paint almost never looks good unless you paint corner to corner, not a specific section. If you’re using expensive paint or a high priced painter, this will quickly bring up expenses without increasing the return. So paint the whole wall or the whole unit, just don’t go looking for custom painting companies to do a rental paint job.
Furnishings
You may think adding a TV or sound system to your rental is a good idea, but most tenants already have their ideal home in mind. Usually, providing the tenant with furnishing leads to them having to store their belongings elsewhere or removing yours and then moving in theirs.
Uplift Property Management knows that unfurnished homes are easier on the owner since they won’t have to be concerned about their items being damaged. Simultaneously, this provides the tenant with an opportunity to choose exactly what they want in their home.
High Maintenance Landscaping
Curb appeal is obviously important in renting a property. If your home is unappealing from the outside, tenants will not be interested in stopping by to see the inside. However, spending a large amount of money on exotic flowers and expensive lawns shouldn’t be your first option.
Everyone loves a beautiful home, but it should also be easy to maintain. A well maintained front yard is more than enough to be in their good graces. Fancy plants and flowers will likely cost you more to maintain and are not necessary.
Luxury Kitchen/Bathroom
Although your appliances and fixtures should all be in working condition, they don’t always have to be upgraded to the best model. As long as your property and appliances are well taken care of, your tenants won’t be expecting the latest and greatest home innovations. Take a moment to see which appliances or fixtures need to be repaired or replaced.
Contact Us
Contact us to learn more about our service, pricing, and the team that gets it all done. Uplift Property Management is a full service property management company. When you become an Uplift client, we will take care of your property like it is our own investment. Don’t forget to contact us if you have any questions!
