🛠️ Renovations
General Tips
Dealing with contractors
- Use carrot and stick. Bonus for each day done sooner, punishment for each late date
- Never pay the full amount upfront, unless it’s an easy 1 day job.
- Make sure they're insured and licensed
Unit Turns
- Rip out screws nails, picture hooks, curtain rods. Easier to paint
- Home depot light fixtures go for 9$, most of your cost is going to be in the labor
Interior
- Go for high-traffic laminate (not too cheap or you'll have to redo in a few years)
- Structolite for the basement resurfacing
- Fixed ceilings > drop ceilings, swap them out when you get the chance and spray paint over them if you want them to have a good look still
- No 220 volt outlets, limits window AC units
- Get rid of ceiling fans, dishwashers to limit maintenance if you’re not in a luxury neighborhood
- Nest thermostat (~$70) turns your B class to an A class
Bathroom
- Strong Toilet (Kohler), always replace with new wax ring on old home.
- Door Stoppers (these amazon stickers are great)
- Replace medicine cabinet with 17$ mirror from home depot
- Add 3 or 4 light bar about mirror
Automatically vent with lights in bathrooms
Otherwise, mildew turns to mold
- Baseboard by tub and bathroom ceiling
- Replace cantilever wall sinks with cabinet
- Moen for the shower, use a single knob for the shower
- Provide free shower curtain. 10$ and saves you the headache
- Ball valves break less often
Kitchen
- No garbage disposal
- No dishwashers
- Durable countertop (granite/stone)
Roaches
- Borax
- Putty knife to push it deep under base board
- Caulk baseboards and floor
Gas Stoves
- Easier and cheaper to fix
- Old fashioned pilots
Exterior
- Siding to porch ceiling
- Stretch screens are ideal
- No glass door/furniture. Get solid core doors
Roof
- Roofing Types
- Rubber roof longer-lasting than tar
- Flat roofs suck and will lead to more repairs in the long run
- Shale/metal/Solar PV can be worth it because they last 2x longer than typical asphalt shingles which only lasts 10-15 years.
Solar
Research done by Zillow
- It increases values by 1.4% on average
- It reduces days on market by 10 days
- Changes based on city, goes up to 4% increase
Maintenance and Repairs
Common Maintenance Issues
| Issue | Resolution |
|---|---|
| Appliances not working | 50 to 100 an hour to fix; Buy used appliances |
| Water leaks in ceiling or under windows | Fix as quickly as possible |
| Water leak under sink | Drain pipe not fitting together correctly |
| Dripping faucet | Big fix with rubber washer |
| No hot water | Heating element is 20$, but can be 600$ for plumber to replace |
| Bugs | Educate tenants; Pest specialist; Seal holes into property |
| Disposal issues | Just remove from sink. Save money on maintenance |
| Toilet leak | Fix flapper or swap wax ring |
| Clogged toilet | Tenant problem and bill back unless it's also in bathtub/sink. Then it's tree roots |
| Furnace issues | Repair immediately. Teach how to replace filter |
References
RJ de Leon, GC at EJC Partners
Gage Multifamily
