I’d like to increase my rent on one of my properties

[Michael Martin]

While increasing rent I’d also like to add value. However, I’m currently undecided on whether I should remodel the bathroom or add a fridge, washer, and dryer or all of the above. The property is in Tahoka a small town of about 2200 people located about a 30-minute drive from Lubbock. It’s been rented since I’ve purchased in 2014, but my last tenant just moved out, and after cleaning up I realized how much I dislike what I’m offering and I feel I need to do better. Mostly seasonal wind energy/ oilfield workers, and seasonal school teachers have been previous renters. Sweat equity for bathroom to be completed by myself (10 year unIon carpenter in my former life in Southern CA) total materials $1091.84. The (3) appliances are $1645. With either optIon or all of the above a rental increase from $475 to $625 would definitely be in order based on current rentals in town with no updates. Thanks

[Marian Smith]

In my experience, prospective tenants like clean, not grungy. Fresh paint is clean. If you can get hard water deposits off faucets with limeaway and a toothbrush, that may suffice. Tear out grungy tub caulk and put in fresh white anti-mold bath caulk. Trim the desilvered edges off your mirror. But sometimes replacement is in order...no pictures so no idea. Not sure what your payback will be if you rehab, but if tenants come and go, I bet they will be content with clean, functional and fresh paint in a light color.