Updating a dated Rental

[Kari Reynolds]

My husband and I are closing on our first rental property on the 28th of July in Salt Lake City. It's a fantastic home with updated AC, furnace, water heater, roof, etc. but it's extremely dated. Think blue carpet and wood paneling. 

It's in a hot area of Salt Lake City that is a really great place for a rental but we're wondering if an update is really needed. Is it worth it to re-do the carpet now if renters will just destroy it anyway. 

Any advice would be appreciated. At this point we're leaning towards replacing some old appliances and putting tile in a bathroom that has carpet but keeping the colored carpets, paneling, and dated drapes. 

Thanks for the help! 

[Bill S.]

My 2 cents.

1) Lose the curtain and install cheap fresh white blinds.

2) Take out the carpet and refinish the hardwood floors underneath. Tenants are not fond of carpet and it makes the place look dated. Hardwoods are in. If they complain hardwood is cold in the winter tell them to get an area rug.

3) Fresh coat of paint and you are rent ready. BTW you can paint paneling until you get wealthy. When you are wealthy, tear it off and hang drywall, tape and texture.

4) Replace the appliances with fresh ones from Craig's List.

5) Don't forget to tune up the curb appeal as well. Clean up the yard and get is looking respectable.

You can have all of the above done for less than $5K but probably more like $3K if the house isn't too big and you shop well.