Its a mistake to compare with bigger or more luxurious houses to get your comps. or to try to over expend in things your market will not absorb Try to think like the bank will do when analyzing the loan of your future buyers, if your house is above the recent sales they will not approve it easily, the smother the loan process goes for your future buyer the faster you will close and get paid best regardsNereo Mendoza   

Not many people have that luxury though

grandiose real estate projects, luxurious hotels (they have the only 7 star hotel in the world), highest tower in teh world around 200 floors!....

My name is Armando J Villorin I'm a qualified Real Estate Consultant with over 15 years experience in the Luxury Home Market & Commercial Real Estate.

I got a bid for 30k for a non-luxury remodel for a 5x8 bathroom that involved moving plumbing  (has a crawl space underneath). 

It is a luxury item and not a necessity that would increase the value of the property or the rent.

I see REI as investment diversification but time is a luxury I don't have. 

- Advertise property - Initial telephone screening of prospective tenants - Showing Unit - Application screening and reference checks - Lease signing and security deposit collection - Initial walk through and key hand off - Rent collection - Serving notices and handling evictions, if necessary - Repair and maintenance calls - Annual or Bi-annual property inspections - Lease renewals - Exit walk through - Make ready for next tenant - Return security deposit with itemization of deductions In your case, you are in a condo with onsite maintenance to interface with your tenants, which is a luxury most landlords do not enjoy.

We met a property manager from Dallas Luxury Realty who quoted us a $75 flat fee.

I didn't filter by price point, so the following stats will likely be different if you take out luxury housing.