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The below topic is discussed in more detail on our members' Improving Rental Property page. When buying, or deciding to improve an income property, it is not in our best interest to look for what is most pleasing to us ... or our egos. The most important criteria are: what is most likely to attract and retain the best tenants; what will maximize our return on investment through higher rents and lower maintenance costs; what will provide the best curb-appeal, at the lowest cost, and require the least long-term maintenance. Every purchase price must take into consideration the cost of up-grading essentials like the following:
The above topic is discussed in more detail on our members' only Improving Rental Property page. |