Hillbilly Hollow

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 gave me keys 3 1/2 weeks ago.

Don't complain about the feedback when the feedback is what is driving people away.
--After a walk thru, the prospect is saying "in its current condition, this isn't worth $x/mo"
--when you refuse to get rid of the torn up front porch outside furniture, you are giving the prospects a nasty impression of what's inside
--chipping paint on the front porch will render the space undesireable; doing so negates some of the value of the rent they'd be paying
--don't complain about the "capital improvement costs" when the needed work of the as is condition is such a turn off to so many potential renters they don't want to bother wasting their time applying
--a graffiti mural that is such an eye sore but you refuse to paint over because of the cost to do so
--the unit having been a former Airbnb, 2/3 of the basement was un useable because it's where the related furniture was stored.  You resist getting rid of it...not to give the space to the tenants who'd be living there and paying for that space but because you didn't want the cost to remove it


As I've said in previous posts.  You do NOT need high end materials, finishes, fixtures, etc.  Time after time, less is often more.  But refusing to put money into a quality rental unit and/or asking for an unattainable rent will make it very difficult to get it filled.  Every.  Single.  Time.


D & K Property Management Services
Karen Bostwick

(440) 590-5925

KarenMBostwick@yahoo.com

https://dkpropertymgmtsvcs.blogspot.com/

Broker License 2018002999


Bostwick Environmental Services, LLC

(216) 325-8505

BostwickLeadSafe@gmail.com


Metro Pest Control

(216) 312-7702

MetroPestControlOH@yahoo.com 

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