Though you may think about investments when you think about rental properties, the truth is that you have to think about the maintenance of it also. You aren’t just going to sit back and make money. You have to care for the property in order to get the most out of it.
That being said, landlords want to give their tenants a home that they can be proud of by updating fixtures and offering extras. However, these improvements can sometimes cost too much to maintain, making them a bad idea.
Here are some rental home improvements that cost too much to maintain.
- Wood floors. Everyone loves the look of hardwood floors. However, they are easily damaged and need to be refinished on a regular basis. This is especially true when the family has children and pets. They can really do damage to your hardwood floors. Because of this, you may want to choose a tile or laminate floor that gives you the same look.
- Pool or hot tub. Many tenants look for extras when choosing where to live. As nice as a pool or hot tub is, you are going to have to find someone to come at least one or two times a week to maintain it. They will need to clean it and keep an eye on the chemicals, which are their own expense. You also have to think about shutting down pools throughout the winter and opening them up in the spring.
- Too much landscaping. Though people love the look of a garden around their home, the truth is that it can be a lot of work to keep up with it. You are going to have to weed it on a regular basis, plus get it ready for the winter and fix it up the following spring.
Though you want your tenants to fall in love with your home or apartment, the truth is that you can waste money trying to make it nice for them. They don’t need hardwood floors that they are just going to damage when laminate will do. You might also want to have a swimming pool or a hot tub, but you are going to be spending a lot of money in chemicals. Same with landscaping. Big flower gardens are beautiful but they are also a lot of work to keep them looking that way!