Failing to do so may result in undesirable tenants and financial loss.Enhancements:Sometimes required due to market competition: For example, if all similar properties on the market have granite counters in the kitchen and your property has laminate, you may need to install granite to rent the property at market rate.Cost-justifiable enhancements: Changes that increase rent and have a reasonable payback period.The formula we use for estimating the payback period:Payback Months = (item cost) / (monthly savings or increased rent)For example, suppose the property has laminate kitchen counters.