Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 10 years ago, 10/21/2014
Roof needs replacing, what should we do?
We have rental property in Phoenix, AZ and we are finally in a position to sell (i.e. We are no longer upside down). The lease ends Sept2015 however we just found out the roof needs replacing due to heavy rains over the summer. The leak is minor but visible on the ceiling. We have two separate quotes at $12k each and a repair quote for $6k.
Question:
Option 1: Should we replace or repair the roof now? If so, can we expect to get our $12k (or $6k repair) investment back when we sell?
Option 2: Take a risk and wait until we sell in Sept2015 and give an allowance to the new owners?
Option 3:??