Residential Rental - Home Improvement Upgrades

[Greg Heden]

I own and operate a high-end full service remodeling company in the Phoenix metro area.  I recently have purchased a four-plex and single family residential home to add to my RE portfolio.  The challenge that I have is wanting to correct all the DIY and lipstick on a pig improvements that have been done throughout the years.  I have trouble just making them clean and livable and calling it a day. Fortunately I can facilitate all the improvements at cost but is it realistic to think I can draw a higher end renter that is willing to pay above market rent to live in much nicer appointed home?  Has anyone approached their rentals with this mentality? What percentage over local market have you been able to achieve? Thanks in advance!