Inexpensive Rental Property Repairs that Won’t Take a Bite out of your Budget

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Services for Real Estate Pros with Pythias Management - Property Mgmt with a Personal Touch

There are some decided differences between fixing up your own home and a property you plan to rent out. One of those differences is often your budget for repairs. If you want to make a profit on your investment property, repairs must be kept to a minimum. Since repairs are also a necessity to attracting and maintaining quality renters, it is also important to learn how to make repairs on a limited budget. The good news is that there are some repairs and improvements which can be made to your property without spending a lot of money.

First, make a point to go through the house and replace all of the older and outdated switch plates. New switch plates need not be an expensive investment. In fact, most switch plates can be replaced for just a couple of dollars each, at the most. You can easily replace all of the switch plates in a property for around $20. In some areas, you may wish to go ahead and ante up for switch plates which are slightly nicer, such as in the living room and foyer. You will pay a couple of dollars more for brass plates; however, even at around $5 each, that is still not much money to pay for an improvement that can really make your rental property stand out.

Doors are another area where you can make a big difference in your rental property without spending a ton of money. Doors are one of the first things that a prospective renter will notice so it can really be a worthy investment to make when you are trying to attract good renters. While you are changing out the doors, be sure to also consider changing out the handles as well. Older door handles can really make a place look drab. For just a few dollars, you can easily replace those old handles with brass finished models. ‘S' handles are popular for bedroom doors and bathroom doors and only run a few dollars more.

The trim is another area where you can make a big impact for not much money. Take a good look at the trim in your rental property. If it appears worn and cracked, it could be time to replace it. You do not necessarily need to spring for crown molding throughout the entire property; however, adding it to the entryway or the living room can create a great first impression.

Another area where you might wish to focus some attention is the entryway or foyer. Keep in mind that once prospective renters step through the front door this is the first area they are going to see, so you want to make sure you make a good first impression. Tiling it can be a great way to do that. For a small foyer area measuring around 8x8 you can easily tile it for about $100.

Kitchens are one of the most important areas for most people when they view a property for rent, especially women. While it may not be practical to replace all of the cabinets, it can certainly help to paint them. Consider repainting them using a semi-gloss white paint and do not forget to replace the knobs when you are finished. Even less expensive plastic knobs can breathe new life into older kitchen cabinets.

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Pythias Management provides Property Management with a Personal Touch!  Pythias Management can handle all of the problems and headaches of ownership while allowing you the time for enjoyment of the benefits.   With Pythias Management, you are not just another customer.  We give you the personalized service that larger property management firms do not.

We currently serve Queens, Brooklyn, and Nassau. Other areas can be negotiated. Come see our site! www.PythiasManagement.com


 

Unless otherwise specified, all text contained herein Copyright © 2010 Michelle Stuart. All rights reserved.

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Rainmaker
1,085,219
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Michelle * GREAT information....you should post to at least 5 groups including the Property Management Group

http://activerain.com/groups/PropertyManagement

Mar 28, 2010 05:29 PM #1
Rainer
14,300
Michelle Stuart
Pythias Management - Property Mgmt with a Personal Touch - Saint Albans, NY
Property Manager/Realtor

Thanks Wallace!  I'm still trying to get the hang of ActiveRain. 

Mar 28, 2010 05:40 PM #2
Rainmaker
1,085,219
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Try these!!!  All are interesting and informative

http://activerain.com/groups/landlordissues

http://activerain.com/groups/rentalagents

http://activerain.com/groups/TexasRentals

http://activerain.com/groups/investors

http://activerain.com/groups/realestateinvesting

 

Sign on daily,  comment at least 10 times daily, don't delete SPAM or junk comments * report them and get points * Blog and Re-blog to different groups!!!

Mar 28, 2010 06:16 PM #3
Rainer
14,300
Michelle Stuart
Pythias Management - Property Mgmt with a Personal Touch - Saint Albans, NY
Property Manager/Realtor

Thank you so much for the tips!!!  BTW I've been reading your blogs for a while - you've been pretty inspiring.

Mar 28, 2010 09:10 PM #4
Rainmaker
676,894
Mary Yonkers
Alan Kells 1-814-881-7548 - Erie, PA
Erie/PA Real Estate Instructor

Michelle,

Welcome to ActiveRain.  Keep reading, commenting and writing.  Plan to attend a few webinars through ActiveRain University.  At the bottom of each page are links that will answer some of your questions.

My daughter is PM in Erie, PA.  I teach real estate classes. 

Mar 30, 2010 04:51 PM #5
Rainmaker
177,712
DEBORAH STONE
Hogue and Belong Bankers Hill- San Diego, CA - San Diego, CA

Good ideas, Michelle-painting the kitchen cabinets and replacing knobs is such a geat idea and I have personally done that to many of my income units. Prospective tenants "ooh" and "aah" over the clean, fresh look. And it does not break the bank!

Mar 30, 2010 06:05 PM #6
Rainmaker
1,085,219
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Congratulations!  Your post is now Featured in the Property Management group

Mar 30, 2010 06:35 PM #7
Rainmaker
187,970
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

never thought about replacing all the switch plate covers, especially doing a few fancy ones in the living rm, kitchen & foyer.  love the ideas.

Thanks,

Apr 11, 2010 02:23 PM #8
Rainmaker
49,187
Dustin McClure
Mossy Oak Properties Outdoor Realty - Mooresville, NC

Great lipstick ideas for a rental home. It's important to remember the home needs to be attractive to renters, but you also don't need to sink a ton of money into the home as if you are resaling. Great post!

Dec 20, 2010 09:07 AM #9
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Michelle Stuart

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