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Updated over 1 year ago on . Most recent reply

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5
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2
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Vasug Real
2
Votes |
5
Posts

How to increase rentability (high rent) for a condo

Vasug Real
Posted

Hi, I plan to buy a property in Cincinnati. It is a condo priced at $140,000. (980 sq ft) (My mortgage payment comes around $1000 to $1200)
Currently, rents around the area are $1200 to $1500.

If I have to make my property standout and attract huge rents, what are the things that I should look for and improve on the current property?

Paint, LVP (Hardwoord?), Kitchen (new appliance) etc? What is the list and how should I approach it? This is my first time

The apartment is livable and has the bare minimum—carpet, normal closets etc. (Without any need for modifications) and it can rent for $1000

Most Popular Reply

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112
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81
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Timur Salikov
  • Cincinnati, OH
81
Votes |
112
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Timur Salikov
  • Cincinnati, OH
Replied

This deal seems kinda thin. Any repairs or maintenance an you will be in the red. 

As far as getting higher rents, the biggest bang for your buck would be:

1. Paint the walls Sherwin-Williams Westhighland White or something similar 

2. Replace light fixtures, switches and outlets with new white ones

3. Get some pro photos, turn on all the lights and open all windows, get maximum amount of light
(Look up "adaptive realty" they are able to get top rents from their units with their style)

4. Change carpet to Luxury Vinyl Plank, I use Lifeproof from HD.

5. If its near a hospital, you can consider med term renal to nurses.  

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