What happens when a toddler is left alone with a candle and some curtains? She lights the house on fire! Fortunately all tenants got out safely; unfortunately, the apartment didn’t fare so well! In property management, we see nearly every scenario you can imagine when it comes to renovations.
In this particular case, we were given a budget by the insurance agency to complete the renovation. Imagine how excited the owner was when we told him we were not only renovating the fire damage, but saved enough budget from the estimate to remodel the entire kitchen as well (the original insurance budget allocated for kitchen cleaning only). Being in the rental industry means creating cozy spaces for tenants while being thrifty and growing our investor’s assets simultaneously! Because we were able to upgrade the kitchen, bathroom, and expose and renew the original wood floors, we were also able to increase the rent substantially! Check out the amazing transformation.