Monday, February 14, 2011

My Real Estate Investing Strategies - entry 2


The tenants moved out and next we need to get a commitment from someone who wants to move in and take care of some maintenance.

The longer tenants stay in a property, the more profitable it is because when a property is vacated, you must at minimum have the locks changed and the carpets cleaned. Usually there is maintenance, lost income, advertising and utilities to pay.

These tenants were in the property 4 years which was great. Yesterday my husband and I went in to the vacant house to make a list of what we needed to do.

Since the carpet was over 10 years old, we intended to replace that and we like to make improvements as we go so we were planing to put tile in the entry, kitchen and both baths. In addition, the master bath tub was a cheap fiberglass with a repaired crack and we wanted to replace it with a tiled walk-in shower. There is a tub in the guest bath.

The lease specifically states that MOVE OUT condition requires the property be left clean and in the same condition in which it was at move-in with the exception of normal wear and tear. Normal wear and tear is defined as without negligence, carelessness or abuse.

We shouldn't have been but we were surprised to see how dirty the house was. Dusty grim covered the ceilings, walls, window sills, blinds and baseboards. I'd say 4 years of dirt. We have our work cut out for us.

Read future entries for how we handle make-ready, improvements and repairs as well as replacing the tenants.




Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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