So on the subject of upgrading and “remodeling”, it can be overwhelming, right? The time, the expense, the decisions! One of the keys is to make your investment where it will matter the most which is likely the kitchen and/or baths. Why?
These areas see a lot of action in life and a rental property is no different. These areas have the most, for lack of a better term, “features” (as opposed to a 9’x9’ sq. ft. bedroom) and they are necessity rooms (as opposed to the addition of a deck or a pool).
Materials and labor will likely be the biggest portion of the overall expense but we’ve got a handy visual here that outlines the overall process and what to anticipate. Fortunately, the upgrades in a rental property take place during vacancy, alleviating some of these factors and our property managers are on hand for many of the other steps.