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Getting an ROI on Rental Renovations

We've found that some renovations will return more cash flow to you than others.  In this video, Nick explains a couple that he's in the process of in one of his student rental properties...

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0 comments on “Getting an ROI on Rental Renovations”

  1. The concept of refreshing a house even while there are tenants makes a lot of sense to ensure that is stays marketable.

    My question is for this renovation, were all of the students moved back home for the summer or were they still living at the property while the construction is going on?

    Thanks,
    Colin

    1. Hey Colin,

      In this particular case they were back home. But we have done things like this in the past when they are living at the property. Usually they don't mind at all since we are improving the place for them.

      Nick

  2. Hi guys, thanks for the great clip re. renovations. Just curious: do you allow your renters to paint walls? I'm guessing no.

    Thanks,
    Tim

    1. Hey Tim,

      We are totally fine with them painting the place but we learned the hard way that we need to approve every color.....that's a story for another time. 🙂

      We want the place to feel like it is their home, we find it leads to better respect of the property.

      Nick

  3. Great post. I agree 100%!

    I have even written similar posts on my blog along the same lines of keeping your student rentals clean and tidy:

    (Tom: we've edited out the direct links to the site)

    I also agree with having the paint colour approved before work is started! Also, a little tip is to make it mandatory to remove the face plates on switches and outlets prior to painting. I'm sure you know how annoying it is to remove these items after they are painted!

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