D & K Property Management Services

I'm a big proponent of having good quality features in a rental unit.  I've said multiple times, less is more.  You don't need high end on a rental.  Your basic Glacial Bay at Home Depot for instance is a great quality product.  You're not spending an arm & a leg, you're able to keep costs reasonable, and it often can take the use from tenants. I've had a couple of investors who I've managed their properties insist on using granite countertops.  They then worry the entire lease if it'll be damaged at any point.  I have yet to see a rental NEED a granite countertop.  It's also often a cost that shows no incremental increase in the asked rental rate. The other double standard I've seen is where granite countertops are provided but all the appliances (including dish washer, washer, dryer) is all refurbished.  Don't think tenants don't see this.  You're sending the wrong message.  Every.  Time. For appliances, I always recommend to ...

You can't ask high end rent but allow the unit to look hillbilly because you refuse to put any $ into it.  Any investment purchase you make, over the years you will always need to be putting money back into the unit.  Windows don't get any newer as time goes on.  Paint peals if not scraped & painted.  Door hinges wear out over normal wear & tear. If you're mandating a higher than market rent ONLY because it fits your proforma, you will never get it rented out.  Ever. Nor can you mandate higher than market rent because it's dictated by your mortgage payment (because you over paid for the property). There is a direct inverse correlation between amount of interest in the unit and the rent ask price.  If you're mandating over market rate for rent, fewer people will be interested.  AND...those that ARE interested will nit pick.  Every.  Little.  Thing. Don't complain it's been a 2 month process to get a unit rented out when you only g...