When you invest in an apartment building or complex, you generally know at least approximately what you're getting into. The work that you need to do may luckily be minimal, but this isn't always the case. The thing that really sets owners apart is how they handle things from the moment the papers are signed. Even if you don't have much to do, the process of actually getting down to business is almost never easy. If you have owned your complex for a while, you probably know what needs the most upkeep. Even if you have owned the property for a while, though, you may find that you need to close down a unit for a while so you can work on it. This situation is never fun or easy, but much like when you first acquired the property, how you handle it will make all the difference in the world.
Walking into a unit that you know needs to be renovated can bring a lot of emotion with it. Often, the strongest one is stress. Renovations mean late nights, a lot of money, a slew of supplies, and hard work. Even if you hire someone to do all of the physical labor, it can still take a toll on you quicker than you may expect. After all, you're spending a large amount of your time at least thinking about what needs to be done and worrying about something else popping up. Renovating a unit doesn't have to be stressful, but it often is anyway. When you are renovating anything, especially for the first time, it almost always costs more than you expect it to. Just the raw supplies are far more expensive than you anticipate them being. While you may know how much a few gallon of paint will run you, you may not have factored in the tape or the brushes or even the hours that you take out of your days to paint and then letting it all dry and air out. It really does add up quickly.
If you need any help getting your unit ready for your new tenants, Talley may be able to help. We have a long list of trusted contractors that you can turn to for help with a lot of preparation work that needs to be done. If you aren't sure where to begin, give Talley a call. We can get you started in the right direction!