Simple Rental Property Repairs Yield High ROI

Here are some easy fixes that will help with your rental properties ROI. Avoid shared housing units in suburban areas with substantial undeveloped land that enables building many more units. Attached housing prices tend to perform best in fully developed or built-out urban environments.

For higher returns, look for property where relatively simple cosmetic and other fixes may allow you to increase rents and, therefore, the market value of the property. Examples of such improvements may include but not be limited to

1. Adding fresh paint and flooring
2. Improving the landscaping
3. Upgrading the kitchen with new appliances and new cabinet/drawer hardware that can totally change the look
4. Converting five-unit apartment buildings into four-unit buildings to qualify for more favor- able mortgage terms

Look for property with a great location and good physical condition but some minor deferred maintenance. Then you can develop the punch list of items with maximum results for minimum dollars — for example, a property with a large yard but dead grass, a two- or three-car garage but peeling paint or a broken garage door. You can also add a garage door opener to jazz up the property for minimum cost. You can also really add value to a property with a burnt-out, absentee, or totally disinterested owner who is tired of the property.
http://www.buyingrentalproperty.org/