BENEFITS OF INVESTMENT PROPERTY REMODELING
By increasing the curb appeal and functionality of your investment property, you’ll be able to charge more for it each month, increasing the amount of money coming in, eventually paying for the price of the remodel over time.
In addition, even having one room remodeled can draw in better renters: people with good credit and rental histories who are more likely to pay their rent on time, take care of the property, and stay in the home, condo, or apartment longer.
These renters have a wide selection of properties to choose from, and they’re unlikely to consider yours unless it’s a nice place with modern, non-dated spaces. Many property investors and managers would argue that you can’t put a price on the kind of stability that regular rent-payers bring.
Remodeling can have other benefits, too. If you decide to offload the property to another investor or a buyer, an upgraded kitchen can really give the value a boost, allowing you to make more and have a quicker, cleaner sale.