Hi guys and girls,
I’m just wondering… you know how renovations can increase the value of a property by heaps and all, and it ‘may’ also increase the rent… What if there is already a tenant in there when you got the house?
Dont worry about renovation in that case then?
I’m just wondering cause i saw dolf de roos’ 101 ways of increasing the value of a property.
Penguin,
You can’t really do much until the tenant is gone…
Also, you have to give a couple of months notice to increase the rent.
Best to leave reno’s until the tenant moves out.
Good luck,
Del
Depends on the market in a big way what you can make from renovations, it can be overated in the extreme.
You can renovate partially while the tenants are there, I`ve done it and over the years I`ve painted many houses for landlords, interior and exterior with the tenant living there.
You might have to leave bathroom, kitchen etc but exterior you can do a lot just give the tenants something in return for thier inconvenience, cheaper rent, even free rent for a week or two and make sure to give them good notice of when work starts etc.[^]
Wilandel is right about the rent, they would not be happy with the inconvenience if the rent went up!.Hm.. good point guys
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win/win situation huh ^^, thanx.
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