Slumlords vs. Overrehabbing

[Rebekah Keller]

I have viewed many tenant occupied properties with horror, wondering how the landlord could get away with it. Stairs to basement broken, hot water tank not working for months, broken windows, one burner on the stove working, etc. I personally try to maintain and rehab my rentals to a quality that I would be content with. But sometimes I am tempted to overrehab. My contractors always tell me I am doing too much, and that renters don't care about such-and-such. What are some your non-negotiables and what are some things that you do NOT rehab unless you have to? 

[Jim S.]

I keep up on repairs/maintenance. My renters (C+) don't like old appliances and run down places. And I don't want a renter that will live like that. This is my investment. I will be selling the building some day. I want to get more than I paid, and I will.