Renovating your rental properties can be a highly expensive, time consuming undertaking, depending on the particular renovations. If you are debating whether or not to undergo renovations, ask yourself these four questions:
Will the renovations attract a higher caliber tenant?
Will the renovations reduce the long-term cost of ongoing maintenance?
If the answer to one or more of these questions is "Yes," renovating your rentals could be highly worthwhile. Other factors to consider are the current tax benefits of renovating rental properties, and whether or not you have funds available. We’ve teamed up with LightStream to offer financing up to $100,000 for virtually any home renovation project. Learn more about LightStream’s hassle-free process and get your project started.
For more insights on rental renovations, see Cozy's Guide to Renovating Rentals. For easy, inexpensive rental property upgrades, see the "Property Upgrades" section of our blog.
Related: 4 Updates Your Rental Home Needs Every Decade, Real Estate Investors and Renovations