If you’ve just recently purchased a rental property, or if you have a tenant who is moving out, there is likely at least some amount of work that you’ll need to do prior to advertising for the next tenant. But, while you may want to provide a property that is appealing – and that will command a nice amount of rental income – how much fix up is “too much”?
Typically, there are certain items that you will need to consider as you determine what should or can be done. These will include the following:
- Repairing any damages – being particularly mindful of anything that could cause a health and / or safety issue
- Ensuring that all of the home’s systems are in order, such as electric, HVAC, and plumbing
- Cleaning the property thoroughly, especially in areas like the kitchen and bathroom(s)
- Changing the locks – regardless of whether you have just taken on the property yourself, or you’ve owned it for some time and there is a new tenant moving in.
In some areas, there may be an inspection required before a new tenant is allowed to reside in the property. If you are renting the home to a Section 8 tenant, a Section 8 inspector will need to ensure that it meets their specific safety and health criteria.
There are other areas that you could consider in terms of fix up work. For instance, you could possibly purchase new or updated appliances, repaint the exterior of the home, and / or install new carpet. Doing so may allow you to charge more in monthly rent. These items, though, will often be up to your personal discretion, as well as your budget.
Hiring a property manager can also help you to find a tenant more quickly, along with taking care of the day-to-day maintenance and tenant issues. For more information on the advantages of working with an experienced property manager in Orlando or Central Florida, Contact Us.