Of Flower Seeds, Renovations, and House Leasing

Filed in archive Information About , Rental Properties on April 18, 2010

© brianandjaclyn

A couple of years ago, we were desperately hunting for a flat. The place we were renting at the time has been sold and the new owner no longer wanted to renew our rental contracts, so there was no way but out. We were running out of time and by a streak of luck, our agent got wind of a unit that met our specs and budget, but wasn't advertised yet in the market.

When we arrived at the place for a look-see, it became apparent why. The place was in a semi-wrecked state. It desperately needed a fresh coat of paint, some of the cupboards were in disrepair, the planters vaguely looked like someone tried to plant flower seeds once upon a time but failed, and the kitchen needed a new cooking hob. After the initial shock, we realized that the unit itself was not that bad and the location was perfect for our needs.

We were informed that the landlord has already contracted renovations works and expects everything done in about a couple of weeks, still leaving us ample time before we were due to move out of our previous place. We included the place in our shortlist and asked to see the unit again in 10 days.

When we saw the unit again, we wanted to sign the lease contract on the spot. See what a few renovation works can do? If you own a rental property that's been sitting without a tenant for ages, consider having renovations done to enhance its market value.