Los Angeles Real Estate Investors say, managers in residential property maximize rental income.
It would seem costly to hire a manager, but with the right strategy in place, your revenue will go up.
Occupancy rates, this often means you have to invest in upgrades for the property.
There are a couple ways to lower cost.
Whether it be a single family home or a multi unit complex, they will net a significant amount when it comes to upgrading.
Los Angeles Real Estate Investors – Clean First Don’t Replace Anything Yet
Los Angeles Real Estate Investors say, often times landlords don’t replace any carpeting or paint the interior between vacancies.
When replacing the carpet, schedule a replacement every seven years.
You want to get a carpet with a longer life expectancy, it might cost a pretty pennyt but in the long run it’ll be worth it.
When there’s a damaged carpet, hire a professional carpet steam cleaner.
They’ll do a thorough job.
Updating The Kitchen
Los Angeles Real Estate Investors say, there’s more of a central focus for tenants when it comes to the kitchen than any other room.
It’s important to update the property, this helps with maximizing your ROI.
To calculate your ROI, it depends where you live and the degree of renovations that were done to the property.
Instead of spending money on kitchen cabinets, why not consider refacing the cabinets instead.
This tends to be cheaper than replacing or painting a cabinet with a high quality finish.
Chalk paint is good, it is durable and it comes in different colors that can transform old and worn to new and modern.
Countertops also make a difference, make sure you do your research for selecting a product that is inexpensive and durable.
Formica is also an option.
Some laminated products can give a granite or stone look.
Poured concrete counters have a great look, they’re practically maintenance free.
When it comes to the kitchen, you have options.
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