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How can I charge more rent? Need advice from landlords...

Discussion in 'The Okie Corral' started by XDRoX, Aug 17, 2012.

  1. XDRoX

    XDRoX

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    Here's the situation.
    1200sqf house on the end of a cul-de-sac.
    3bdrm, 1 bath, 2 car garage.
    New kitchen and new bathroom. Complete gut. I did the work myself.
    All new vinyl windows throughout the whole house.
    I put mirrored closet doors and ceiling fans in all three rooms.
    Central heat but no air.
    Inside looks brand new.
    Backyard recently landscaped and new covered patio built.
    Front yard looks OK but no sprinklers.
    Plenty of room to expand.
    .33 of an acre which is a large lot around here.

    So here's my question. I want to put money into the property but not sure how I should do it.
    What can I do to charge more rent?
    Where should I put money that will yield me the greatest increase in rent?

    I'm assuming something like air conditioning probably wouldn't be that smart but I don't know.:dunno:

    Maybe a room and bathroom addition :dunno:

    Maybe front yard landscaping :dunno:

    A swimming pool :dunno:

    I literally have no idea where I should put money in order to maximize my return.

    I've owned the house for 4 years and have had three different tenants. I've never had a problem finding really nice families to rent to. Right now the rent is $1750.

    Any advice is appreciated.
     
  2. MLM

    MLM

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    Don't have any rentals myself but I definitely would not put a swimming pool in. Swimming pools on rental property has liability written all over it.
    A/C probably be a good choice. If I was looking for a rental and found two that I liked; one had A/C with a higher rent and the other didn't, I would go with the one with A/c.
     

  3. NDCent

    NDCent Socially Inept

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    I'm in a completely different area and situation, but... I'd go for a second bath for the master, especially if the plumbing was an easy short run. Maybe a deck if it would complement the house and area. Better yet, look for additional property(s).
     
    Last edited: Aug 17, 2012
  4. DanaT

    DanaT Pharaoh

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    Boom chicka wow wow.

    That jsut says "white trash" in capital letters
     
    Last edited: Aug 17, 2012
  5. XDRoX

    XDRoX

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    I was thinking the same thing about a pool.
    AC may not be that expensive to put in since the central air is already there. And it does get into the 90's around here in the late summers.
     
  6. XDRoX

    XDRoX

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    I also like this idea. It wouldn't be very far form the other bathroom to put in a master bath. The only problem is the house is on a slab so I wouldn't be able to do the work myself.

    But I bet a bathroom addition wouldn't be terribly expensive either.

    I wonder if I could get $2k a month if I added a bathroom:dunno:
     
  7. vikingsoftpaw

    vikingsoftpaw DEPLORABLE ME!

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    Having AC is sort of SOP in CA, No?
     
  8. Naelbis

    Naelbis

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    AC, no question there. You should already have done that based on your description of the house. No excuse for central heat with no air.

    Outdoor Hub mobile, the outdoor information engine
     
  9. blk69stang

    blk69stang

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    Personally, I would not even consider renting a place with no A/C. If I heard what you're charging for rent, and found out the place had no A/C for that kinda money, I'd laugh in your face.

    Just sayin'.

    I'd say it needs air in order to justify the rent you're already getting. But then again, prices in Cali are astronomical (and "less than sane") anyway so....

    If you're looking to get more for rent, I'd say instead of a pool, you could do a hot-tub. Can get a nice used one for a couple of grand, they have less upkeep required than a regular pool, much less liability worries, and it would be a real bonus for the renters. I think that would pay off in spades.
     
  10. GeorgiaGlocker

    GeorgiaGlocker Ezekiel 33:11

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    How do you charge more rent? Just tell the renters that your insurance and taxes have gone up.
     
  11. cgwahl

    cgwahl Sheriffs a near

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    AC and if you can swing it, a second bathroom.
     
  12. okie

    okie GT Mayor

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    AC for sure:supergrin:
     
  13. Geko45

    Geko45 Smartass Pilot CLM

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    Yeah, but he's in San Diego. The weather is almost always gorgeous and mild there. You'd be surprised by the number of upscale homes that don't have central air simply because it is so rarely needed.
     
    Last edited: Aug 17, 2012
  14. certifiedfunds

    certifiedfunds Tewwowist

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    Have it certified ghost free
     
  15. XDRoX

    XDRoX

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    In new houses yes. But this house was made in the 70's. It wasn't SOB then. It's really only nice to have during August and sometimes September. We're pretty close to the coast out here and the ocean cools us down.

    I really didn't think AC would be a good investment but now I'm thinking differently. I'm glad I posted this thread.

    The current renters have told me that they plan to buy a house in a year. So I'm beginning the planning right now of work I can do between tenants.

    By law in CA I'm allowed to raise the rent up to 10% with 30 days notice. If I want to raise it over 10%, 60 days notice is required.

    My tenants are on a 1 year lease right now so the rent can't be raised within their lease. Plus I really like this family and have no desire to raise the rent on them for as long as the stay. But again I'm planning for construction between tenants.

    Unless I decide to go with the AC. AC work may not be too intrusive since the central heat is already there.
     
  16. HarlDane

    HarlDane

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    I agree with A/C, unless you're right on the coast in SD (given the rent, I'm guessing you're not). With the existing duct work, the cost should be reasonable.

    A new master suite to expand the place to 4/2 would really be nice, but also costly.
     
  17. SC Tiger

    SC Tiger Jive Tiger

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    AC and rich, stupid tenants.

    Seriously though, AC should be priority #1.
     
    Last edited: Aug 17, 2012
  18. XDRoX

    XDRoX

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    Yep our gun laws certainly suck but our weather is amazing. Actaully I don't have AC in my house that I live in.

    I'm convinced that adding AC to my rental would be very enticing to future tenants, but I'm not sure if it's something that means I can charge more for rent.
     
  19. Adjuster

    Adjuster

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    A/C and master bath. What is in the backyard for an outdoor area deck, patio need some sort of designated barbq and eat, relax area. The mirror doors were a mistake but since they are already up leave them be. Please tell us you do not have popcorn texture on the ceilings.


    /
     
  20. XDRoX

    XDRoX

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    You are correct. Not on the coast. About 15 miles inland. A 4/2 sounds awesome though.