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Well, you were all very helpful and I took your advice. We gave the tenant notice and now he is gone. However, based on the Prop Mgmt company inspection, it sounds like we will need new carpet and paint and some repairs.
We live about 2000 miles away now. I wonder if y'all think it would be worthwhile for me or me and my husband to fly out and look at the house ourselves. Should I just trust the inspection and the realtor to see everything and make sure everything gets done, or should I see for myself? I'm sure we could write off the cost of the trip, but not sure if it is worth it (round trip flight $300).
Well, you were all very helpful and I took your advice. We gave the tenant notice and now he is gone. However, based on the Prop Mgmt company inspection, it sounds like we will need new carpet and paint and some repairs.
We live about 2000 miles away now. I wonder if y'all think it would be worthwhile for me or me and my husband to fly out and look at the house ourselves. Should I just trust the inspection and the realtor to see everything and make sure everything gets done, or should I see for myself? I'm sure we could write off the cost of the trip, but not sure if it is worth it (round trip flight $300).
$300 is really cheap and you should go. Can you/ your husband do any of the repairs (or even paint yourselves)? If you stay a few days longer, maybe you can save some money on the repairs.
Unfortunately, I don't think you can write off the cost of the trip - I looked into that myself and I think there was some weird provision where you can't write off the cost of travel to your old residence. I would however go out there and see if it really needs to be done, or if you can just clean the carpets and patch up the paint yourself. If you can do ANY of the repairs yourself, it will probably save you at least $300, so I think monetarily it's a no-brainer. It's just a matter of if you have the time, and if this is how you want to spend that time.
Unfortunately, I don't think you can write off the cost of the trip - I looked into that myself and I think there was some weird provision where you can't write off the cost of travel to your old residence. I would however go out there and see if it really needs to be done, or if you can just clean the carpets and patch up the paint yourself. If you can do ANY of the repairs yourself, it will probably save you at least $300, so I think monetarily it's a no-brainer. It's just a matter of if you have the time, and if this is how you want to spend that time.
Unfortunately, I don't think you can write off the cost of the trip - I looked into that myself and I think there was some weird provision where you can't write off the cost of travel to your old residence. I would however go out there and see if it really needs to be done, or if you can just clean the carpets and patch up the paint yourself. If you can do ANY of the repairs yourself, it will probably save you at least $300, so I think monetarily it's a no-brainer. It's just a matter of if you have the time, and if this is how you want to spend that time.
Rental property trip can be written off. Now you can't go wild writing 8 trips in one year to the place cause youll raise flags but a trip to check on the property after a tenant vacates and to assess damage and repairs is perfectly legitimate write off.
Does your PMC hire their own maintenance people? (Thinking kick-back - no incentive to get you the best deal)
Do they get a fee for supervising maintenance and repairs? (Thinking the more expensive the job, the more they make - hence no incentive to get you a good deal)
My thinking is based on a bad PMC experience that charged up the ying yang for repairs and maintenance - most unnecessary - and then a fee on top of that for supervising the jobs.
I think you should go back and oversee and hire people for yourself. Plus, you might be able to get the floors cleaned and they'll look fine. As your realtor's opinion on what needs to be done - not your PMC. IMHO.
What? You don't want to pick out the new carpeting yourself?
I would never trust another person's judgment about how much money I should spend. I want to see and evaluate myself.
You've had a tenant in there, so chances are that you do need to repaint and maybe need new carpet. However, you can work miracles on paint by washing the walls and using a magic eraser on marks.
Walls should be washed before painting, so I would do that anyway, and then evaluate what the paint looks like. Cleaning the windows will make the paint look better.
A good carpet cleaner can work miracles on carpeting. Unless there are wear spots, a good professional cleaning, spot removal, deodorizing, and minor repair might save you the cost of new carpet.
If you need new carpet, pick out new carpet and have it installed, but I suggest that you don't take the word of someone who is going to make money off of the new carpet installation.
While you are there, trim back the landscaping and neaten up the yard.
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