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My rental property is now empty/ tenant just moved out. There are several things I'd like to improve in the home- before renting it out again (expect a new tenant by 6/1)- but I'm not sure which to prioritize.
The home is from the 70s- the kitchen has already been updated. The bathrooms have been updated except for the shower and bathtub. The shower and bath are tiled- and look very worn. I'd like to replace the shower and bath (they are in different bathrooms).
The home was in foreclosure when it was purchased and the pool was in sad shape when purchased. the pool surface is damaged and 2 tiles have recently fallen out- I'd like to resurface/ retile it- it's been 8 years since home was purchased, and pool surface was never fixed.
I'd also like to redo lawn and fix sprinkler system. This is something I will have to fix prior to new tenants moving in.
If I did all the updates I wanted it would cost more than 10,000$. This past year we replaced the roof for 12000.
I am not sure which update I should do first, since I can't afford to do all of them. Does anyone have suggestions on where I should start with updates/ or how I should prioritize them? Which items is generally more important to new tenants, and which ones would most benefit resale value of home? thanks for input.
In my area, just clean & safe is necessary- not stylish.
Fwiw, tub & shower surrounds (even tile surrounds) can be painted & if the correct materials are used, it's pretty durable & makes them look great. Not quite as long lasting as ripping everything out & starting over, but it can get you by for another 5-10 years in many cases. In my area, I can have a tub/shower prepped & painted for $375 & they can even bondo rusted tubs, fix cracks in fiberglass tubs, etc. Pick up a new "trim kit" (faucet handle, tub spout, drain hardware & shower head) on Amazon for $50-$100 & it's /almost/ as nice as a new tub.
Pools, I dunno.. I'd never own one in a personal residence or as a rental, they're just pits that suck up dollar bills & cause grief.
Fix the pool and hire a pool guy to maintain it and maybe the sprinklers, you don't have to supply sprinklers. If you do the sprinklers yourself it could be very cheap to a couple hundred dollars depending on what is wrong. The showers can be torn down and a fiberglass surround installed, $150-$300 plus install but they are very easy to DIY. New surrounds I would rip out all the old drywall which means new blue/green board and paint. You can do the tubs for under $500 each so I think your estimates are a bit high unless you think the pool has $7k worth of damage, if that's the case then I'd fill it in and put a lawn down because it isn't worth it IMO.
Get estimates on the pool for repairs. See if you can defer the repairs or if it's a immediate need. I would fix what is needed or then extend the majority of the repair some other time in the future. Personally I don't want a rental with a pool. Too much liability and expenses.
Fix the sprinklers and the lawn. Lots of times the grass will come back if you water it. You may get away with reseeding.
You can rip out the exisiting tile and do fiberglass surround and new fixtures. A good handyman should be able to handle that.
What kind of tub? I remodeled a rental and it had a double skirted tub and it was about 2500 bucks. I reframed, pulled a plumbing permit and bought a single skirt cast iron tub. That cost was about $600 including the permit
If you are going to spend 10K maybe it is time to sell?
I go for clean and safe as mentioned above...
Too much heartbreak seeing new trashed over the years and no security deposit is ever going to cover it... have a drawer of judgments and in 30 years never collected.
Lawns really only need water and regular mowing during the season... if water is a problem the lawn will never amount to anything around here.
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