How do I know if a repair would increase rental value?

[Jimmy Lieu]

How do I know if fixing a cosmetic issue or doing a specific rehab would increase the rental value of a property?

For example, after I close a property, I will be fixing everything on the inspection list. However, inspectors don't report on cosmetic issues. Because of this, I will be bringing in contractors to find the cosmetic issues and write itemized bids for how much it would take to fix.

My question is how would I know if fixing a cosmetic issue would increase the rental value of a property? Some people I've talked to have said that they will only do a repair if it will increase cosmetic issue or reduce turnover. My question is how would you know that?

Or is it one of those things that you need to look at other rentals in the area and see what type of finishes they have and match them?