The Best Home Improvements for your Rental Property Investment

What are the best home improvements that you can make for your rental property investment? Remember, if you use my Rent to Own strategy, you are trying to find renter/buyers. This type of renter is going to take a more thorough look at your property before signing the lease-option agreement since they are going to be giving you more money than a typical renter. So if your roof is at the end of its useful life, you may get a renter but a "rent to own" tenant won't consider your property.

Before you purchase your rental property investment you should consider the cost of these upgrades. Failure to do so will limit you from charging premiums for the rent and potential selling price.

Here's my list of the best home improvements to make:

1. Improve the homes curb appeal
• remove or trim any trees or bushes that hide the front of the house
• clean up any trash or debris on the property
• if needed, plant a few flowers
• if the exterior paint is an outlandish color or flaking badly - paint it
2. If the roof shingles are curling or missing, re-roof the house. If there are any roof leaks make sure they are fixed.
3. make sure the homes interior is clean, especially the kitchen and bathroom
4. replace all burned out light bulbs
5. paint the interior a neutral color
6. replace or repair any major systems, such as:
• furnace
• hot water tank
• galvanized plumbing
• built-in appliances
• windows
7. fix or replace any leaking faucets or toilets
8. replace ugly toilet seats
9. update a few lighting fixtures
10. replace really worn or stained carpet
11. wax or re-finish wood floors
12. replace the knobs on the kitchen cabinets
13. replace the counter-top

Hopefully, you won't have to make all of the above home improvements. But take a look at the house from a buyers perspective before you put it up for rent. Also, remember that you do not have to over-improve. Your tenant/buyers are usually desperate or anxious to get into a house and don't need granite counter-tops or finished basements. These are tenants that are entry level buyers.

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