PROJECT MANAGEMENT & RENOVATIONS
PROJECT MANAGEMENT
There are so many factors that go into determining what your rental property might rent for. Neighborhood, age of home, included utilities, structure of rental agreement (pets, appliances, amenities), condition of home, etc. We will gather all appropriate information and give you an idea of what your place will rent for.
Sometimes making repairs help prevent minor issues from turning into major problems that require more extensive and costly repairs. This can save you more money in the long run. Not to mention, updating the appearance of your rental property can help increase its appeal to tenants and improve its value.
We’ll outline and suggest renovations that will streamline the most cost effective return on investment, increasing your properties value and attracting better paying tenants
RENOVATION ANALYSIS
The first step in rehabilitating a rental property is to assess its condition.
This involves inspecting the property and identifying any major repairs that need to be made, as well as any cosmetic updates that can improve the property's appearance. Some of these cosmetic updates include:
- A fresh coat of paint
- Update kitchen and bathroom cabinets
- Include inviting light fixtures
- Maximize storage space
- Install new faucets and shower head
These cosmetic changes can turn interested renters into tenants.
Although these cosmetic changes are important, there are some important issues that need to be considered. Some common issues to look for include:
- Structural problems: Look for signs of foundation issues, such as cracks in the walls or uneven floors.
- Plumbing issues: Check for leaks and make sure all fixtures are in good working order.
- Electrical issues: Make sure the electrical system is up to code and any outdated wiring is replaced.
- HVAC issues: Inspect the heating and cooling system to ensure it is functioning properly.
We will walk through the entire property, including the basement and attic, and take note of any issues that need to be addressed. We’ll make a list of items that are in need of repair or replacement, such as leaky faucets, cracked tiles, damaged flooring, or faulty plumbing systems, as it is essential to plan ahead.
Of course also checking for any health or safety hazards, such as mold or asbestos.
This will give you a clear idea of the scope of the work that needs to be done, and will help us budget for the renovation project.
Once we have a list of items that need to be addressed, it's time to create a budget and timeline for the renovations. We have on staff general contractors and trusted licensed technicians we work closely with. We’ll make sure to factor in the cost of materials, labor, permits, and any unexpected costs that may arise.
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START TO FINISH
Once we have a budget, we can start prioritizing which items on the list are most important and should be tackled first.
We’ll manage all facets of the renovations, and first securing any necessary permits.
We’ll schedule the order in which renovations should be completed to maximize efficiency and minimize disruption for tenants.
For example, it's usually best to complete cosmetic renovations, such as painting or installing new flooring after all structural repairs have been made
DWG Management will make sure all aspects of your project are handled smoothly.