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Updated over 2 years ago on . Most recent reply
Help with getting property rent ready
Im in the process of getting my property rent ready in Garfield Heights, its a 1200 sqft 3x1 single family home that is a buy and hold. Floors are ok so apart from minor fixes and some updates in the bathroom, the whole place will be painted on the inside. Now my PM suggested that I updated the kitchen, something that I wasn't planning on and did not include when running the numbers before purchase. The quote that I have is as follows:
- Provide and install average grade kitchen base cabinets: $2225
- Provide and install average grade kitchen wall cabinets: $850
- Provide and install laminate countertop, post grade 25" deep, 4" splash: $500
Now I personally think the cabinets look fine and that cleaning would suffice. I was thinking if anything I could do only countertops and back splash for $500 and not do cabinets. I am not sure quite how much difference in rental price cabinets would do but my PM provided some comps where the cheaper ones have old kitchens, and the remaining 5 have updated kitchens. Here are the comps!
Pictures of kitchen currently:
https://portfolio.zinspector.c...
https://portfolio.zinspector.c...
https://portfolio.zinspector.c...
https://portfolio.zinspector.c...
What do you guys think? Thanks.
Most Popular Reply
All you want to do is bring it up to the standard your competition has it at. No more no less
I have a tough time believing that an entry level rental will rent for that much more with just an updated kitchen. If anything paint the cabinets, maybe pop new countertops on and keep the rest of your cash.
The quote of $3,575 without a sink, plumbing or any other items such as hardware, etc. would take a while to recoup in rent alone. Not sure just that would support increasing the rent unless the rest of the property has been upgraded and this is the only room that wasn't.
Think twice about redoing the kitchen for a rental . . . what you have looks acceptable especially if you are putting in average grade / builders grade replacements.
@Luka Jozic
That kitchen is really outdated. It all depends on your competition. If the competition has updated kitchens and you don’t then you probably need to update. On the other hand if the competition has old kitchens like yours and you update yours, I would think you could get a higher rent. It takes time to recoup rehab costs. One thought is if by updating the kitchen it reduces days on market then that out money in your pocket. An updated kitchen is generally a positive thing, but it all depends on your market. It will definitely be easier for your pm to rent the unit with an updated kitchen.
If I could reduce days on market and get a higher rent then I would probably spend the money. It might take a couple of years to recoup my money, but if your going to keep the unit long term, I think you will be ahead. A reduction in days on market from 30 to 15 at $1000 rent is $500 plus if you can rent it for $100 more a month that’s $1700. That’s about two years to recoup your funds.
All you want to do is bring it up to the standard your competition has it at. No more no less
Hello your PM is overcharging you, big time This is a rental in GH, each cab is about 100 bux, You will be about 8 total, top and bottom.
what about your lead inspections, and your POS ?
@Luka Jozic My vote is similar to some others. Clean up the cabinets, maybe update the hardware (handles), perhaps change out the counter top (depending on current condition), and if you don't want to spend the cost to install a tile back splash, then maybe install some waterproof wall board (can be purchased at Home Depot/Lowes) as the backsplash. The kitchen & baths are what attract renters/buyers, so always budget for adjustments on these two line items. Rob
If its a D class rental, do nothing.
If its a C class, clean and polish up what you have. If you can paint the cabinets go for it.
If its B class replace as your PM suggested, but also consider adding a dishwasher. Its a nice sizzle feature and I think will attract/keep better tenants and make people feel ok about paying a bit more. I would also add 1-2 more countertop GFCI outlets.
I don't think its A class. So, I won't even comment on that.
Brussel sprout soup plastic is my first thought. The color and cabinets are ugly. What does the rest of the house look like? Is the curbside or backyard charming?
I would NOT bother with changing to a new laminate top, it will get burns on it anyways.
Wait until next year or when tenant changes and find a cheaper one piece cabinet with built in countertop even Ikea has better prices than your PM
Cheap fixes for now:
contact paper to cover that green countertop
I know this has an electric stove- change out the trays under the burners with black ones
a little valance for the window in geometric green pattern- look up Marimekko and with two yards make it cute
Thanks everyone for the responses. I ended up going with simply cleaning up the cabinets and will repaint the countertop with one of those paint kits. I might consider updating the cabinets later on but I feel like they have a few more years to live.