Smart Upgrades Landlords Should Consider

Too many landlords don't want to put in the time, research, and upfront costs to renovate their rental properties. And it's their loss: Improvements could earn them money. But the problem has gotten worse over the last 20 years: Annual maintenance expenditures have decreased 35 percent since the late 1980s. No doubt, renovations require careful planning, but because you're looking for crowd-pleasers, landlords can stick to conventional renovation choices and interior design. Better yet, contractors may offer landlords a lower bid on renovations for a vacant rental properties, because they won't have to work around residents.

If you're a landlord, here are some good reasons to consider renovating a rental property: