Having a single-family rental property can be a wonderful way to build income and build equity. As soon as you shop for your next Oakland investment property, it’s important to know of the signs of a poor-quality renovation. A bad renovation can lead to expensive repairs down the road, that is why it’s important to be able to tell what to look for before you buy. In what follows, we will talk discuss some of the most common signs of a poor-quality renovation. We will likewise provide tips on how to avoid these poor renovations.
1. Mismatched Flooring
One of the most common indications of a poor-quality renovation is mismatched or unsatisfactorily installed flooring. Say for example you happen to look into a carpet that doesn’t line up with the baseboards, chipped or cracked tile, or quite a few kinds of flooring in varying degrees of quality. In that case, it’s a good indication that the property was not renovated properly.
2. Fresh Soil or Paint on Foundation
One more prospective sign of trouble ahead is a freshly painted foundation or fresh soil piled up against it. As foundations age, they can shift and build up cracks and leaks. Homeowners may attempt to disguise foundation problems with paint or fresh soil, therefore, bear in mind to have a professional inspection done.
3. Wavy Shingles
If the property owner insists that there is a new roof, check carefully for wavy shingles. Every now and then, a seller will cut corners trying to patch up the property to sell, making the use of low-cost materials, or simply nailing new shingles over old ones. Layered shingles can attempt to cover more serious structural problems and may void the warranty on the roof itself. Because of these reasons, if you see wavy shingles, your best move is to investigate further.
4. Water Damage
Another critical sign to watch out for is water damage. Several factors can cause water damage, but most commonly, this follows from poor drainage around the foundation or leaks in the roof. If you see water stains on the ceilings or walls, around HVAC registers, under cabinets, or evidence of mold or mildew, be sure to have the property inspected by a professional before making an offer.
5. Sticky Windows and Doors
Another sign of a poor-quality renovation is windows and doors that don’t open and close correctly. If the windows and doors are stuck or are hard to open or close, it’s a good indication that they were not installed properly. Doors and windows that don’t fit properly in their frames can lead to serious problems down the road, so don’t forget to ask about them before you buy.
6. No Permits
If the property you are considering has had any recent renovations, be sure to ask for proof that the proper permits were acquired. If the seller cannot provide permit paperwork, or if you can’t find permits issued by the local building authority, it’s a good indication that proper procedures were not followed when renovating the property. Unpermitted work can lead to mediocre quality and even safety hazards for you and your tenants.
7. Unfinished Renovations & Additions
Be sure to check out the quality of any new construction. If you see nails sticking out of wood or trim work, or drywall that is not evenly finished, it’s a good indication that the work was done in a hurry and not to a high standard. Large new additions, such as decks, patios, and entire rooms, should be scrutinized for shoddy workmanship. This is because things like unsecured flooring, faulty wiring, or other hazards could cause serious problems for you down the road.
You probably don’t want to re-renovate a rental property shortly after you buy it. So do your due diligence to avoid investing in a money pit.
Another great way to feel confident in your investment property purchase is to enlist the help of local market experts. At Real Property Management Masters, we help rental property investors locate and assess quality properties. To learn more, call our office and speak to an Oakland property manager today!
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