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Updated over 5 years ago on . Most recent reply

User Stats

37
Posts
4
Votes
Alexa S.
  • Rental Property Investor
  • Alexandria, VA
4
Votes |
37
Posts

Best finishes for a rental/best way to get a house rented fast

Alexa S.
  • Rental Property Investor
  • Alexandria, VA
Posted

I own one rental right now close to downtown DC. The tenants have said they may start looking for new jobs out of the area in the fall and I'd like to consider a modest kitchen renovation when they go.  The kitchen is fully functioning and in solid shape. But I wonder if some white cabinets and stainless steel appliances would make it more desirable. 

The townhouse is overall in a stellar location within the city, has 2 parking spots, laundry, is walkable to 3 metros and downtown DC, has a sizable patio, a dry storage shed that can fit bikes etc, and features that overall make it a desirable city rental for the right person who doesn't want a building. However, it sits across from where a 6 acre (multiple city blocks) property stood that was known for high levels of crime and I believe that is what has made it very tough to rent out over the last two turnovers. The property has been torn down in the last few months and the land is slated for a major redevelopment so now my hope is that its a bit easier to rent out. But I've been burned by vacancy a few times and would love any insight into whether other investors think a modest renovation is worthwhile to make it more desirable or if I should save my dollars. Comps are a bit tough because its apples and oranges- there are a few small blocks of houses surrounding this one (none currently rentals) and most of the rental units nearby are in high end buildings with amenities.

Also, my plan is to stage it and get professional photos this time around which I didn't previously.

Thank you for any insight!

Most Popular Reply

User Stats

37
Posts
4
Votes
Alexa S.
  • Rental Property Investor
  • Alexandria, VA
4
Votes |
37
Posts
Alexa S.
  • Rental Property Investor
  • Alexandria, VA
Replied

@Marian Smith, @Colleen F., @Michael Simolke, @Scott Mac, @Nathan Gesner, @James Mc Ree, @Theresa Harris, @John Underwood, @Anthony Dooley, @Mike McCarthy:

Thank you to each of you who responded to my post. I appreciate the insight and wisdom each of you provided, and the chance to learn from so many of you with much more experience.  Thank you all for weighing in. I'm much less inclined to make any big changes now!

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