As an investment property owner myself I very much understand the benefits of knowing how to perform basic property maintenance. It has helped me both in my own home and in my rental property and it can also help for Park City property management.
Whether you decide to use an awesome Park City property manager like myself or want to take a more hands on approach to property management you will want to know as much about a property as you can. And as one of my favorite childhood cartoons G.I. Joe taught me: Knowing is half the battle! 
So with that in mind here are a few DIY maintenance tips for Park City property management that can help save you money and give you a better understanding of how to maintain your long term rentals in Park City.
- Garbage Disposals - Did you know that there is a red reset button on the bottom of your garbage disposal? And that there is also a nut on the bottom that you can use to turn the blades inside the disposal and free them when they are stuck? I've known more than a few tenants who seem to think a garbage disposal is the same thing as a garbage can! If you can quickly and easily clear a stopped up garbage disposal, reset the unit and get it unstuck you have saved yourself a costly visit from a plumber. Next time you've got your head under your kitchen sink take a look for the reset button and the nut!
- Toilets - If you've ever peeked in the back tank of your toilet you may have seen a slightly complex series of pipes, valves and floats. But a toilet is really quite simple in its function and all the parts are easily replaced with common hand tools. If you've got a toilet that is not flushing well, runs constantly or has a slow leak these items can all easily be addressed. You've just saved yourself a call to the plumber in Park City property management!
- Paint - As with many types of work performed by a subcontractor the single biggest expense when hiring a painter is labor. So if you can get to know the basics of painting you are only looking at buying supplies, which are relatively inexpensive, and your time. If you are starting with a bare wall that has never been painted before you should use primer first to seal the wall and then paint. It usually takes a couple coats to cover well so don't be surprised if your first coat doesn't look like a Rembrandt!
- HVAC - The best and easiest thing you can do for your HVAC system is to change the filters regularly and keep it clean. What your HVAC system does, either when it is heating or cooling the property is transfer heat. If you have a dirty filter or a bunch of dust in the coils your are inhibiting the flow of air and thus the ability of the system to transfer heat. Keep vents and air returns clear, hose off AC condensers during the spring and summer, and even vacuum around the furnace portion of the system periodically. Your system will work better and last longer in Park City property management.
If you would like more information on trust accounts, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation
If you are considering hiring a Park City property management company for your long term rentals in Park City there are a few questions you should definitely ask. Hiring a property management company is an important decision for your investment property and you want to make sure you are comfortable with your choice. These are a few of the question you should ask that will help you get a better feel for the company.
- Besides a management fee what other fees do you charge? A typical management fee for a Park City property management company is 10% of gross rents. This applies to long term rentals, if you are looking at nightly rentals you should be prepared for 50% and up. This fee will not typically cover things like maintenance and repairs so you should know what rates are charged for those services. You want to look for any other type of fee and leasing, inspections, etc.
- How are maintenance calls handled? Along the lines of additional charges you want to know how maintenance calls are handled and billed. For example our contract requires that any repair in excess of $300 be approved by the property owner. This serves two purposes. First it allows maintenance to quickly handle any small repairs and keep tenants happy. Second it let's owners know to expect larger repairs and allow our company to provide a quote for services.
- Do you have a trust account? I've written a previous post entirely about the importance of a trust account titled "Park City Property Management And Trust Accounts". Click the link for a more in depth explanation but basically if they don't have a trust account then don't use them. There are far too many opportunities for a mismanagement of your funds so just stay away.
- How do you screen potential tenants? You might want to ask to take a look at their application as well to see how thorough it is and what questions are asked. They should be running a criminal, credit, and eviction background check as well as checking rental references. A great tenant is a very valuable component of your Park City property management operation and should never be underestimated. Conversely a bad tenant can cause you a nightmare's worth of problems.
- How long have you been in business? You shouldn't necessarily discount a company because they are new to Park City property management. Steve Jobs had to start somewhere and you could end up with a great property manager. But with an established company there are certain benefits that come with having seen or done it before. A proven track record is perhaps one of the best references any company can provide. If they've been around for a while they probably know what they are doing!
- Do you have references? This is along the same lines as how long a company has been in business. If a company can reference customers they've had for a few years or more then you can have peace of mind that at least SOMEONE has been willing to do business with them for an extended amount of time! I know from personal experience that a quality reference can go a long way.
If you would like more information on trust accounts, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation
The tenant-landlord relationship can be an interesting one in Park City property management. There is a healthy amount of information a good landlord should know about their tenants but they will not know everything and a tenant is expected to have a reasonable amount of privacy. For example a landlord can't enter a property without notice unless there are some type of emergency circumstances. So today I thought I would write a somewhat humorous post from the perspective of a "tenant in hiding". These tenants know they are breaking the rules and are trying to hide things from their landlords. This unfortunately happens in Park City property management and it is something you should look out for.
- "I never put anything down the garbage disposal." I've heard this excuse more than a few times from a tenant who has called about a disposal not working or a drain that is clogged. And I've found either a variety of items mangled in said disposal or drain lines coated with grease and food particles. One unit in particular vehemently denied ever putting grease down their drain even when we took apart the drain pipe and showed them the thick layer of sludge caked inside the pipes!
- "I never smoke in the property." Some people truly don't smoke in a property, especially if they are light or casual smokers. But when the snow starts falling and the temperature drops am I really supposed to believe that a chain smoking tenant is always going outside for their hourly fix? Smoke damage is expensive to remove in Park City property management so watch out for this one.
- "I don't have any pets." A variation of this is "I only have one dog/cat." Despite the image of a dog friendly community there are few places in Park City property management where a tenant can have a pet. And unfortunately some people abuse the pet policies on a property.
- "My friend is just visiting for a few days." This secret could also come out as "I don't have a roommate." Either way this tenant has an unauthorized person living in the property. You want to avoid this if at all possible as you don't know anything about this person and you may not want them living in your property.
- "I'll bring in my rent check by the end of the week." Sometimes this works and sometimes it doesn't In either case having to track down delinquent tenants is a pain in the butt for anyone in Park City property management. Be prompt with your notices, enforce late fees and toe the line with your tenants.
- "I have a few friends coming over." Of course this implies that your tenant tells you they are having a small get together in the first place. Most people are pretty respectful when it comes to their neighbors and having a small party. But if parties seem to happen with alarming frequency it might be time to find new tenants
If you would like more information or tips on property management, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
I will be the first person to admit I am not a gambler. Every time I find myself in Las Vegas, which is infrequent, I can't help but think of all the things I could by with the money I am losing. Maybe if I was better at gambling I might feel a little different but the fact is I don't like losing money. And I feel like most people in Park City property management are like me when it comes to money, they don't like losing it! So here are a few ways that I think some landlords in Park City property management are losing money in their property management business.
1. Rent
Losing money in rent? Really? Well what does the market have to say about what your property should rent for? If you are below market you are losing rent. Whenever a lease comes up for renewal it behooves a landlord to take a quick look at what the market is doing in Park City property management and adjust up if you are able. The other thing you should consider is the idea that paying a little extra each month is easier for some tenants than the prospect of moving. For example for the longest time I hated my internet and phone provider. I didn't like the service, felt like I was paying more than I should, and wanted to switch. But when I would actually look at it the process of switching seemed more of an inconvenience than the current service was. I think many cable companies rely on this concept of customer apathy. If you are considering raising the rent take a look at my post Raising Rent At Lease End In Park City Property Management for tips on dealing with tenants.
2. Vacancy
This is directly tied to rent and rent increases. If you bump the rent up too much you could be faced with some vacancy. That may be okay if the increased rent amount you can now obtain on the open market makes it worth it to have a little vacancy. As a landlord in Park City property management you should always act quickly when your tenant provides notice that they are moving out. Start advertising and marketing before the tenant has left the property. As a landlord you can enter a property for reasonable business purposes with proper notice and touring the property to a new tenant is certainly a reasonable business purpose. If there are repairs that will need to be made once the tenant has vacated act quickly to get them going and have your property returned to rentable condition. A savvy property manager in Park City will realize that the biggest single expense is the mortgage on the property but the SECOND biggest expense is vacancy.
3. Fees
If a tenant pays late are you charging them a late fee? Does your lease clearly state when rent is due and when it is late while proscribing a fee to charge for late payment? Fees really accomplish two things: First they can provide an additional income to your Park City property management operation. Second they reinforce the importance of paying on time. But this only happens if they are utilized. If you are not collecting the established fees from your tenant when they pay late (trust me, if it hasn't happened yet it will!) you are missing out and you are allowing a tenant to pay late which will create all kinds of frustration for you as the landlord.
If you would like more information or tips increasing rental rates., or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
Some people are cut out for Park City property management and some aren't. I've always felt that to be successful in this business you need to be a jack-of-all-trades. You need to know property maintenance and care, legal aspects to managing a property, be a good judge of character, have a handle on basic accounting, be a good salesman, and be able to make tough decisions and sometimes have a thick skin. Not everybody is built this way and not everyone has the resources available to make a Park City property management operation work. Let me tell you a story about a former client who tried to go it on their own with disastrous results.
The Beginning
As I mentioned this person, we'll call him Bill, was a former client. Bill lives out of state and we provided property management services to his property in Park City. We had done so for several years and felt like the relationship was a great one. We had always had really great tenants in Bill's property and it was a great example of how a long term rental in Park City should function. Bill would occasionally come out to Park City to visit and would even pick up a few items from Home Depot to spruce the property up. A new faucet here, some new light fixtures there, in general an owner who was interested in maintaining their property. On one of these trips Bill informed me that he would be taking over management of his property. He felt he could handle it from his home and wanted to save a little money by not using our services. We had a good conversation but Bill ultimately felt this was the best course of action for him. He took over management of the tenant we had placed in there and I wished him the best.
The Middle
As always happens the tenant we had placed in Bill's property decided to move. Bill took out and ad and was able to find another tenant. Bill also decided to do some more upgrades to the property because he felt it would help him sell it in a few years. The tenant Bill found in Park City property management was a nice person. She had a pet and as near as I can tell reasonable references. I don't know how much Bill looked into her background but the tenant moved in and things went fairly well. However after less than a year the tenant moved out unexpectedly and left the place a mess. No serious damage but she did not fulfill the terms of her lease and there was some clean up that needed to be done. Bill decided to do some more serious renovation, again thinking this would help the property sell in a few years, and went looking for a new tenant. Each time the place became vacant Bill had to take a few days off work, fly in from out of town, get the place ready and meet with prospective tenants. Between you and me this probably cost more than our management services would but this was Bill's decision.
The End
Bill eventually found a tenant, a gentleman who was going to school at nights, said he had a healthy trust fund to pay rent, and could even do some work around the condo that Bill wanted to have done. Again I have no idea how much effort Bill went to in checking this man's background. It wasn't long after this man moved in that I started receiving complaints from the neighbors about him letting his dog out for potty time and not cleaning up after the dog or walking him on a leash. Maintenance was called for problems with the dishwasher, disposal and kitchen sink. They found a property that was absolutely trashed, all kinds of gunk down the sink including a fork, and the tenant claiming that maintenance hadn't installed the dishwasher properly. Then the rent payments quit coming in.
Bill had to make several trips to Park City to initiate an eviction with the courts, is out thousands of dollars in rent, money for travel, and time. Bill's property, just recently renovated, has been trashed. Now all Bill wants to do is get this guy out and sell because he is so tired of the headaches. I had to shake my head and ask myself "What was Bill thinking?"
The Moral
Some people are cut out for Park City property management and some aren't. If you think it might not be the best fit for you then you should consider hiring some property management in Park City. If you are thinking of handling it on your own because you don't want to "waste money" paying for a professional management company then realize you could be saving a little money but end up paying thousands more down the line.
If you would like more information or tips, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
In Park City property management you truly need to be a jack-of-all-trades. You need to be good with people, have a solid accounting background, a competent knowledge of property maintenance and repair, and also the ability to be a bit of a salesman. When the time comes for your tenant to move out you will need to be putting on your salesman hat and be ready to get those perfect tenants into your property. One of the best ways to attract tenants is with a quality rental listing. So here are a few handy tips that will help your rental listing stand out from the crowd.
Highlight Uniqueness
Obviously a prospective tenant in Park City property management will want to know the basics. How many bedrooms, bathrooms, rent, utilities, parking situation, etc. But what aspects of your property make it stand out from the crowd? Is it close to great shopping or restaurants? What about access to public transportation? You want to take time to think about what really sets your property apart from others currently on the market. Read rental descriptions for available properties in your area to give you some ideas about what you should and shouldn't do. This is your direct competition so if there are some ways in which you can distinguish your property from the crowd take advantage of them.
Easy On The Adjectives
When most people think of spicing up written text the addition of flashy adjectives comes to mind. But you need to be accurate and not superfluous or excessive when it comes to their use. Is your property really immaculate? You have to correctly portray the positive aspects of your rentals in Park City property management but understand that if prospective tenants show up expecting "high-end furnishings" or a "spacious floor plan" your property had better deliver. And remember that there is a positive way to describe most aspects of a property. Choose words like cozy instead of small or secluded instead of far away.
Give Detail On The Amenities
Take some time to describe some of the key amenities of your property. If you are part of an HOA that includes a pool, tennis court or other common space make sure to note these items in your rental description. Also property features like decks, hot tubs, extra parking, storage or other types of items can make your property stand out from the crowd.
Have Some Good Photos
This always helps drive interest in a property, especially if you typically attract out of town tenants to your rentals. Try to take pictures in the evening or early morning when the light is best. Make sure the property is clean and any maintenance is taken care of. If you are renting your property furnished then include what furniture will be in the unit with the pictures.
Have A Call To Action
A call to action is a marketing term that prompts a potential customer into doing something. Listing your contact information is the most basic step but statements like "won't last long" or "price reduced" are statements that can drive interest and make potential customers take action. A call to action is typically placed at the end of the pitch or advertisement and is a way for interested parties to move the process forward. These steps will get you well on your way to success in Park City property management.
If you would like more information or tips, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
Making the wrong decision when it comes to tenants in Park City property management can be one of the worst decisions you will ever make. You have spent a considerable amount of money and time on your investment property and the last thing you want is to get the wrong person in there. Understand that it is very EASY to deny a person from renting your property before they have taken occupancy. But once they are in it can be very HARD to get them out. So in the spirit of saving everyone some headaches here are some great questions to ask future tenants.
- Why Are You Moving? This is the first question you should ask. Is the person new to the area or are they moving up or down market? Or where the kicked out of their previous place? Once when I was interviewing a person for a maintenance position I asked them about their previous job. They proceeded to tell me how stupid everyone was at that place and they couldn't wait to get out of there. Needless to say they didn't get the job. Watch what they say about their landlord, this will give you a clue as to how they will act towards you.
- Have You Ever Been Evicted? For obvious reasons you want to know the answer to this question. This is actually something we ask on our application in a couple of different ways, including disclosure. If they answer yes or hesitate follow up with a few questions about the circumstances.
- Who Will Be Living In The Property? This should include all adults and minors. We require that everyone over the age of 18 have a background check and sign the lease. Minors are listed on the lease as well. This way there are no questions about who is living in the property. Be careful about how you ask questions as you don't want to run into any type of Fair Housing discrimination in Park City property management.
- Do You Have Any Pets? Park City is a very interesting town. While seemingly very pet-friendly there are few condominium communities that will allow tenants to have pets. If your long term rental in Park City is in a community that doesn't allow tenants with pets you need to make sure you don't run afoul of your community rules.
- Where Do You Work? Park City is becoming less of a winter and more of a year round destination. But there is still a busy season and a less busy season. If your prospective tenants have jobs that are only seasonal and nothing lined up for the summer this should be a concern. Always ask for employment information and a supervisor's name and phone number.
- How Long Will You Be In Park City? Again the last thing you want is to settle on a year lease with tenants who will only be around for the ski season. If you are looking for a seasonal rental they are a great option for some people and you will have no trouble finding that for winter. Summer is a different animal though so if you are considering year round leasing in Park City be clear about it with prospective tenants.
- Will You Be Able To Pay On Time? Perhaps you shouldn't phrase this so bluntly but being clear about when rent is due and when it is late is a great way to gauge a prospective tenant's ability to pay. If they balk about the timing then perhaps they are not the right fit for you.
- What Questions Do They Have For You? This is just a general catch all and a good way to see where the prospective tenant's mind is at. You can gain a lot of insight by these types of open-ended questions.
If you would like more information or tips, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
The security deposit is a standby of property management in Park City. It can also be a source of contention between a tenant and landlord when it comes time to assess damage caused by a tenant versus normal wear and tear that a tenant is not responsible for. If you are new to Park City property management or have been managing long term rentals in Park City for some time these tips are designed to take some of the guess work out of security deposits, provide protection for you as a landlord, and make the process easier to deal with in general.
- Know Your State Laws. This is really the first step when it comes to handling a security deposit in Park City property management. For example did you know that landlords are obligated by law to refund a security deposit, minus any expenses, within a certain amount of time? And that an explaination of charges or final statement is to be included with the security deposit? The last thing any competent property manager wants to go is get on the wrong side of the law. And in the case of Utah the laws regarding security deposits are solid, common sense applications that equally weigh the concerns of both landlords and tenants.
- Use A Trust Account. One of the worst errors I think a property manager in Park City can make is to not have a trust account. This account should be a non-interest baring account establish separate from any operating account you have for your property management business. This is truly the proper way to account for a security deposit; it eliminates the potential for comingling of funds and ensures you never spend a deposit by accident.
- Familiarize Yourself With The Market. A good rule of thumb for a security deposit is a month's rent. Hopefully you have an accurate understanding of what your property would rent for in Park City property management so that you can properly establish a security deposit. I have found that in some instances a large security deposit can protect a landlord but also provide a barrier to entry for a tenant that would otherwise be qualified. If you have a strong system in place and a potential tenant passes with flying colors you as a smart landlord have the ability to adjust the deposit to kick start business.
- Hire A Park City Property Management Company. Sometimes if you want it done right you SHOULDN'T do it yourself! If you are looking to acquire some expertise in property management then look no further. CC Realty has been operating in the Park City area for over 10 years as the property manager of choice for many local and out-of-state property owners.
If you would like more information or tips, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
If you are considering becoming a landlord in Park City property management or if you've already taken the leap by purchasing an investment property there are a few tips that I would recommend to you. So get educated on some of the things necessary in order to make a successful foray into property management in Park City, Utah.
- You Are In Business. There really isn't any other way to look at it. Perhaps you are renting a property you previously lived and and consider your home. Perhaps you know or even like your tenants. But you are now running a business and you should comport yourself at all times as such. Keep a professional demeanor in all your interactions and transactions.
- Know The Law. You should have a solid grasp of not only your rights as a landlord but your tenant's rights as well. Laws differ from state to state so what may work in Tennessee may not be the same in scenic Utah. A savvy landlord in Park City property management will have a good understanding of the law and resources on hand should new questions arise.
- Know Your Market. The old adage "location, location, location" applies just as much in Park City property management as it does in real estate. Doing research on what comparable properties rent for is key to keeping yourself competitive and minimizing vacancy.
- Have A Cash Reserve. Nothing is more frustrating for a Park City property management company than a property owner who can't afford necessary repairs because they are paycheck to paycheck in their own finances. I know sometimes people fall upon hard times or find themselves in a rough patch financially. But you should establish an account in conjunction with your property that is kept aside for repairs.
- Repairs Happen, Get Used To It. This goes right in line with having a cash reserve. You should expect repairs. I jokingly like to say that if you have too much time and money on your hands buy a home. Repairs will come so plan for them. Preventative maintenance can help in many ways and should be done. But you will always have repairs in your long term rentals in Park City.
- Cash Flow. A wise investment will be cash flow positive. You should never count on appreciation to be your source of income. Cash flow will not tie you as tight to the housing market and keep your Park City property management operation running smooth.
- Verify Your Tenants. Some people are honest. And some are not. It is your job as a landlord to figure out the truth when it comes to potential tenants. And the best way to do that is background checks and references. You should establish a protocol for screening tenants and stick to it. Everyone has a story and you don't want to get burned.
- Consider Property Management. One of the best ways to make sure your investment operates smoothly is to hire a Park City property management company. They will have the expertise, operation and know how to expertly manage your investment property.
If you would like more information or tips, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
Every rental property in Park City property management will eventually need some type of upgrade or repair. Whether this is the result of a feature of the property wearing out and needing to be replaced or if you are attempting to add a little pizzazz to your property to set you apart in the market there are many things you can do to a property that can enhance the perception of your investment and can result in less vacancy and turnover in your Park City property management operation. Here are a few tips you can use to make upgrades that are broken out by cost, from the least expensive on up. These are all intended to be reasonable upgrades and not complete remodels/structural additions that could drastically change the character of the property.
Least Expensive
Perhaps the easiest way to make a property appear more modern and updated in Park City property management is to replace things like door knobs and locks, light fixtures, or plumbing fixtures. If your property still has brass door knobs or light fixtures, or chrome plumbing fixtures it might be time for an update. For door knobs and kick plates I recommend a brushed nickel finish. This is typically less expensive than a rubbed bronze but will provide you with a more modern appearance than any type of chrome or brass knob. Look for clean, sleek designs that will also provide a more contemporary feel. Brass light fixtures were all the rage in the 90's but also look terribly dated in 2014. I'm sure you've all seen the brass framed, beveled glass fixture, you might even still have one in your home! But you'll be amazed at how inexpensive a new, updated fixture can be and how much it will change the character of a room. Chrome or brushed metal fixtures can be found at very reasonable prices and with some basic electrical knowledge can be installed fairly easily. The same can be said for ceiling fans and exterior carriage lights. Try to maintain continuity throughout the property with your light fixtures, this will enhance the ambiance of the property. In my experience plumbing fixtures will typically fail long before door knobs or light fixtures. Again brushed nickel is a great way to go, they are inexpensive and modern. Stick with minimal designs and make sure the fixture is compatible with your sink. These small changes can drive up the wow factor in Park City property management.
Moderately Expensive
Moderately expensive upgrades to a property would entail appliance upgrades. Maybe your dishwasher has gone out and it is time to replace it. Did you know there are second hand appliance stores that will buy your used appliances, running or otherwise? Obviously this wouldn't cover the cost of all new appliances but if one of your major appliances is on its way out you can recoup some of the cost of new appliances, upgrade the appearance of your kitchen and maintain continuity, and avoid adding another useful appliance to a landfill. Way to be green! Again brushed metal appliances are always good although for a washer/dryer it really isn't as much of a show piece of the property and doesn't need any real flair. Also recently there has been a trend of black faced appliances. Always consider what works for your property and maintain continuity throughout. Upgraded appliances are a great selling point in Park City property management.
More Expensive
Some easier but more expensive upgrades to a long term rental in Park City would include things like paint and flooring. Hold on a second, paint? But you can buy a couple gallons of paint down at Home Depot for cheap! Yes this is true, and if you plan on painting it yourself then your hard dollar costs are pretty low. But painting definitely ups the elbow grease quotient. You should view your investment property as a business. Your time should also have a dollar amount attached to it. I wrote a blog post about this concept titled "Park City Property Management For 62 Cents An Hour." Check it out if you have some time. Stick with neutral colors in both paint and flooring choices, you'll cast a wider net in attracting tenants and your bottom line will benefit from it.
If you would like more information on smart rental upgrades, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.