Here are the top 5 things you should seriously consider replacing or upgrading whenever you acquire a new investment property, regardless of their condition.
Toilet Why is a toilet on top of the list?
The main reason that a toilet is a must-fix item is because leaking toilets can run 24 hours a day.
You can always reuse the same old set of locks at 456 Main Street next time when you have a tenant turnover.
In fact, a lot of times, I would go one step further by changing the bulbs in my tenants’ apartments.
Once you change the bulbs, it will be some time before you have to change them again.
Install a whole new set of smoke alarms and fire extinguishers, and you won’t have to worry about them for the next several years (as long as your tenants don’t tamper with them).
Of course, if you use the battery operated alarms, you will have to change batteries for the alarms every year.
As a hint, don’t count on your tenants changing batteries themselves.
What items do you always change out?