Common Mistakes to AvoidWhen it’s time for a duplex rental cleanout, if you find it’s a disaster (or, just a whole lot of work ahead), it’s all too easy to get overwhelmed. Don’t. You can get through it. Think about it this way — you can eat an elephant — it just goes one bite at a time. That’s the same thing, really. If you go step by step, you’ll be able to hit small goals, one by one.
Buying a home takes quite a bit of effort. Buying a duplex takes just as much research and perspiration, if not more. Depending on your financial goals, a duplex can provide a tax shelter, a residual income stream and a place to call home. Balancing home ownership and being a landlord takes effort and a willingness to learn, but with a little knowledge and budget forecasting, you can buy and manage a profitable duplex. —Our Everyday LifeAnother don’t you should well be aware about is to calculate a realistic budget. Too many rental owners underestimate the cost of a rehabilitation and get themselves into a bad situation. As a result, they cut corners as much as possible, which only creates future problems.
Duplex Clean Out in North PortGo through both units and remove all junk and debris. If there’s a lot of junk in the units, don’t waste your time and effort trying to do it on your own. Instead, call a local junk hauling and removal service to do it quickly so you can get it ready to rent in a shorter time frame. Then, do the following to complete the duplex clean out:
- Remove the furniture from both units. If the units still have furniture inside, it’s best to remove it all and start with a blank slate. Most tenants will have their own furniture to move-in and having empty units means they’ll appear to have more livable square footage.
- Test all appliances. Once both units of the duplex are cleared out, you should test the appliances. If you need to replace any appliances, buy floor models or go to a used appliance store to get refurbished units. It’s best to have matching appliance finishes, even if they’re not the same brand.
- Have major systems inspected. Have a plumber, electrician, and HVAC technician check the plumbing, electrical wiring, and the heating and air conditioning. These should be up to code and in good working order to rent legally.
- Make any and all necessary repairs. Whatever is broken, missing, or needs replacement can’t be ignored. No matter how small or seemingly insignificant, make any and all necessary repairs to make it as attractive as possible to potential renters.