As a rental property investor, increasing profits while minimizing expenses is the number one priority. Performing repairs and renovations on your property can help increase your property value and hence how much you can rent it for. However, determining how much you should invest in repairs or renovations can be tricky without the help of a professional property management company.
A property management company ensures that not only repairs and replacements are made, but preventable maintenance is also done regularly. Doing this helps prevent minor issues from growing into massive, costly problems.
Kunevich and Lau Property Management will help you come up with the best ideas to increase your property value through renovations and repairs, including suggestions and feedback on how it may affect rent, maintenance, and insurance. The amount of renovation you can do is determined by several factors such as:
- Condition of the property
- Available budget etc.
These are essential property renovations and how it can affect your investment property:
Having a solid roof is very essential, and it is important to have your roof regularly inspected to determine whether or not maintenance is required. However, if you purchase a house with a relatively new roof that has 20 years of life remaining, then you can just leave it. Otherwise, you should consider renovating it.
Having your windows in great working order is very important. If your property has worn out windows, then you should consider purchasing new white, vinyl windows that support the insulation of the property. Most tenants would appreciate this as it will, in turn, lower the utility bill hence everybody wins!
Whether it’s due to pest damage or normal wear, electrical systems need regular maintenance. You should also have a certified power company determine the power load of your property and suggest the best components such as panels, etc. Another important tip here is replacing all high power consumption lighting systems with newer and more efficient ones such as LEDs lighting systems.
At Kunevich & Lau Construction, we have a team of qualified plumbers who will inspect your plumbing system and determine any suggested repairs or upgrades. Having a great plumbing system will also help reduce the risk of pipe burst due to weather change such as during winter. Consider removing all old galvanized pipes, and installing new PEX plumbing in all your rental properties.
- Kitchen and Bathroom Renovations
It is also essential for you to perform important renovation in the kitchen, bathroom and any other part of the property that needs renovation. This will increase your property’s market value and hence how much you can rent it for.
With over 40 years of experience Kunevich & Lau Construction and Development Inc. offers the best commercial and residential property maintenance and renovation services. Our company also partners with various established contractors to ensure that we are giving you the best results.
At Kunevich and Lau Property Management, we have a team of professionals willing to pick up your call or answer your email. For more information or appointment scheduling, Call or email us via 617-487-4868 or firstname.lastname@example.org respectively. Alternatively, you can also check our website at http://knlpropertymanagement.com/ or visit us at 241 Washington Street Brookline, MA 02445 or 268 Centre St Newton MA 02458. We take customer servicing very seriously and put your satisfaction as our primary concern.