The Educated Landlord

Making Landlording Easier

  • Home
  • About
  • Articles & Landlord Tips
    • Articles about Running a Landlord Business
    • Property Management Articles
    • Articles about Landlording
    • Articles about Tenants
    • Articles about Investing In Real Estate
    • Landlord Video Tips
    • Articles about Renovations & Your Rental Property
  • Landlord Training – Courses/Books
  • Rooming House Resources
    • Basics of Rooming Houses – A Beginner’s Guide
    • Rooming House Tips
    • Rooming House Articles
    • Rooming Houses – Consulting
  • Contact Us
  • Landlord Tools
    • Prorated Rent Calculator
    • Rental Property Cash Flow Calculator Tool Simple
    • Rental Property Cash Flow Calculator With Details
  • Access To Courses
You are here: Home / Archives for Rental Property Renovations

Mold Remediation – A Guide To Dealing With Mold in Your Rental Property

February 15, 2017 By Landlord Education

There’s an expression about not making a mountain out of a molehill — it refers to there being no need to overreact to situations for which there is a simple solution. But a MOLD hill … that’s something different entirely. Any hill, patch or clump of mold of any size deserves your immediate attention if you are a landlord, because depending on what caused the mold to grow, liability can fall upon you if a tenant becomes ill.

Moisture is a key contributor to the growth of mold in buildings. Mold also requires high relative humidity, and an organic food source, which is provided by many building materials. Eliminating moisture is the easiest way to control mold growth, and a landlord who fails to address a moisture or water issue after being notified about it might be held liable. The situations in which a landlord could be expected to take steps to eliminate the water source include (but are not limited to):

  • A leaky roof
  • Leaky pipes
  • A musty smell
  • Broken windows
  • Damaged siding
  • A broken humidifier

Many people are sensitive to molds and can have severe reactions. While causation of a severe illness can be difficult to prove, any litigation that results from a mold issue could tie you up in court and lead to tenant loss.

There are a number of steps to take to minimize the damage from mold after a water “event” such as flooding or a burst pipe. Most important to know is that action must be taken within 24 to 48 hours, and a mold remediation company can help. Other basics include:

  • Make repairs/eliminate the water source ASAP
  • Temporarily move the tenant if necessary.
  • Wear protective clothing when confronting mold.
  • Meet EPA guidelines in carrying out remediation efforts.
  • Document all remediation efforts in case there is litigation

The accompanying infographic outlines these steps and more. It also includes tips to help landlords prevent mold issues from occurring in the first place. Awareness about mold issues can help eliminate an uphill battle — one with a much steeper climb than a molehill.

Mold Remediation Guide provided by American Apartment Owners Association.

American Apartment Owners Association is the largest landlord association in the country. They offer a large range of services including credit checks, rental applications, landlord forms, and tenant screening. AAOA’s mission is to provide superior property management services that will equip landlords to better manage their investment properties.

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Landlord Business, Landlord Information, Property Management, Rental Property Renovations Tagged With: mold in rental properties, renovating rental properties, rental property problems

Making a Quality First Impression

October 5, 2016 By Landlord Education

Exuding Quality

Quality productI recently purchased a new fall coat and as the weather is starting to really cool off in the mornings I felt today would be a great day to wear it out.

To be fair this wasn’t a really expensive jacket, in fact it wasn’t even a real “jacket”, but rather a nice hoodie that had a very fuzzy interior lining, plush according to the label. A lining that would keep me perfectly warm on a cooler day.

I don’t even think I paid $50 for it, but it looked good and felt warm and comfy when I tried it on, so I was hooked. That was back in early August and since it’s been so nice it’s been safely squirrelled away in my closet waiting for the cooler fall days.

Well, now that we’re into October, those cooler fall days have quickly arrived! So out comes the new fall hoodie and that’s when I made some observations. It was as I was cutting the tag off that I noticed something. Just a tiny little detail.

But a tiny detail that upgraded my impression of the jacket, sorry hoodie, to another level.

The tags were made of a very thick sturdy paper that instantly upgraded my thoughts about the quality of the clothing.

Feeling the heft and weight of the tag made a huge impression on me. This tiny little incidental item, a tag albeit a nice one, exuded quality and the feeling that the manufacturer’s of this product actually cared about it.

It was as if they they didn’t cut corners, as so many people do, and rather than throwing on the cheapest tag possible in order to save .0001 cents, they had a better product that deserved a better tag.

Have you ever felt like this when you bought something?

If you did, how did it make you feel? A little prouder to own it? Maybe you stood up a bit straighter when you wore it or your friends saw it?

Now here’s the zinger, do your tenants say the same thing about your rental property…

Exuding Quality With Your Rental

They say you only get once chance to make a first impression and it’s so true. Although with my coat it was actually the second impression when I looked closer, but you get the idea!

Well, what impression does your rental give to potential tenants? Or to add to it, what impression do you give?

Is the entrance tidy and clean, or worn and cluttered? Do you show up in a torn t-shirt and the same shoes you use to cut the grass (which may be ok if you are actually there cutting the grass…).

Did you pick up a welcome mat from the Dollar Store that looks cheap, or did you spend a few extra dollars and buy a nice sturdy mat from a home furnishing store? It’s little upgrades like this that can make that good first impression!

Maybe it’s just a new door handle instead of the old worn knob, maybe swapping out the broken and chipped door skirt for a new tidy looking one to help make your property stand out.

It’s little steps like these can can help ensure your property not only gets rented faster, but stays rented. We often forget that our rentals are people’s homes and its a trap that can bite you in the pocketbook later.

Sure when the rental market is hot it’s not much of an issue, but when things turn, and they inevitably do, and the market is a bit tighter with more vacancies and less tenants to go around that they suddenly become very pressing issues.

Consistently High Quality Rentals

first impressions make a difference with your rental property

That’s why it’s far easier to be consistent with your properties and be pro-active at setting a higher standard. Then you don’t run into the hurdles of the down times, or if you do, unlike your competition you coast through them as others flounder.

This type of pride of rental property ownership pays more dividends than just filling your property faster, it also helps you keep tenants longer, attract higher quality tenants and as you stay on top of your property it helps maintain values.

A story I share with many people involves a property I owned years ago that had a very similar property just down the street. At least very similar in the style of property.

Both were half duplexes, both had front decks and both had yards, but the similarities ended there.

My property had tenants in place usually two to three years at a time, theirs had a for rent sign out front every six to nine months.

Now we’d never personally been in the unit, but one day my wife was at our property and saw the other landlord was doing some showings so she invited herself in to check it out, and chat with the owner.

Upon entering the difference was easy to see.

Now this was only a decade ago, but the other property still had the original shag carpeting from the 70’s in it…

And quite possibly the original white paint color, great first impression.

Going further into the property and looking at the kitchen my wife found the original dark brown fake wood look cupboard doors with more original 1970’s hardware.

No wonder people kept leaving like it was a revolving door.

In comparison, our property had hard wood (which probably had shag carpet on top of it at one point), freshly painted walls with a modern color, newer white kitchen cabinets with newer countertops and bright shiny contemporary knobs on all the cabinets.

It’s Not Rocket Science

First Impression of qualitySo just by description alone, which would you chose?

And maybe that’s why we were always able to fill the property so quickly and kept tenants for so long!

Now, let’s talk about you and perhaps some homework?

What do you think your property gives off as a first impression? Cozy place to call home? Or pitstop until we find something better?

Your homework, if you truly want to be an educated landlord, is to stop and take an objective look at your property.

Would you live there? If not, that’s the first sign you might want to change things.

What could you do to spruce it up just a bit? New front door? Drastic updates at the entrance to make it more inviting? Or maybe simple steps like fresh paint on the door and a new handle or trim plate across the bottom of the door?

Taking simple steps like this pay handsome dividends over time and it’s a matter of small efforts to get this done that pay back so well with longer term tenants and shorter gaps between occupancy.

If you’re struggling to fill your vacant property this might want to be a priority. If you expect to have a vacancy soon it should also be high on your radar. At the same time, if you have great tenants it can also be an assurance to them that you want to take care of your property and can also be rewarded with them acknowledging it and taking even better care of your property for you.

So, ball is back in your court. Are you willing to do some homework? If you are I’d love to hear what YOUR thoughts are on YOUR property and what you might need to do to improve it and to start making a good first impression as soon as possible!

Leave me a comment below with any changes you may be making in the near future to your property or with any changes you’ve made in the past that have paid dividends!

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Landlord Business, Landlord Information, Rental Property Renovations Tagged With: landlord business, quality rentals, rental property first impressions, rental property renovations

You Can’t Eat a Brick…

February 24, 2015 By Landlord Education

Unless Your Richard Kiel…

You Can't Eat A Brick - reference to money stuck in a propertyIf you didn’t catch that last reference, perhaps you’re not a James Bond fan? Richard Kiel played the James Bond villain Jaws in a couple of the James bond moves (The Spy Who Loved Me
and Moonraker and yes those are affiliate links for which I make pennies if you buy the movies 8′]) and he could chew a brick and steel and more.

And even if you did catch the reference, you’re probably wondering how the heck this applies to Real Estate?

The answer is part of the problem. When it comes to a Real Estate asset like a rental property you’ll find that your money, or equity, is trapped in your property. You don’t realize that equity until you sell and while it may add to your net worth, it’s not money you can quickly or easily access. Which is the problem.

A sudden downturn in the economy (caused by oil dropping to $50 a barrel around here), unexpected repairs (that roof that suddenly started leaking) or an increase in vacancies (large local employers laying off staff or shutting down) can all have a huge effect on your cash flow as a landlord.

That’s where having access to that equity, or by having cash reserves in place can help.

Borrowing From The Experts

A Reserve Fund Study provides a long term plan for upcoming expensesOne way to prepare for instances like this is to hoard money during the good times, but that may not be the best solution for everyone. Another option is to borrow from what expert property managers do.

In this example condo boards. They are forced to be experts in planning future expenses.

Now personally I’ve had some horrible experiences with condo boards, but there are always some benefits somewhere and the concept of reserve funds is one of those.

If you’re not familiar with a reserve fund it’s a process that condo boards use to build up funds for planned (and sometimes unplanned) expenses. In my are it’s law for a condo building to have a Reserve Fund Study completed that outlines projected expenses for the next 25 years on the building.

This study needs to be completed by a company that professionally reviews everything and includes breakdowns on upcoming expenses such as new windows, roofs, ongoing maintenance along with taking into account other future expenses such as tax increases and more.

Now I’m not suggesting you need a professionally completed reserve fund study done for your rental property, but it wouldn’t hurt to take a longer term look at your property and plan for the future so you’re not caught by surprise.

By taking an approach in advance to deal with this, you hopefully won’t be caught in the position of having all your equity stuck in the property, having no money handy and you stuck figuring out whether bricks go best with ketchup or mustard for dinner.

So What Can You Do To Prepare?

One option you can use is starting with a reserve fund. We often would budget right from the start an additional $5,000 as part of the float for a property.

This was required up front money and made sure we were prepared moving forward for unexpected expenses.

Another option I know several investors use is to not withdraw any funds from the incoming cash flow for the first six months to a year depending on the profitability of the property. As an example, if you have $500 cash flow per month from your fully rented property, leaving that $500 to build up for ten months could give you a $5,000 reserve.

Another way to proceed might be utilizing a bit of both. Maybe you’ve just bought a new property, you only have $2,000 to start the fund, you still have $500 cash flow, but rather than taking all $500, you take $300 for ten months to build up your reserve. Or $200 for 15 months.

Or maybe you have a brand new roof already and your biggest upcoming expense might only be an appliance, so maybe you only look at a $2,000 reserve. It just doesn’t hurt to prepare.

But Don’t Over Prepare

Should you limit cash reserves?

Now this works fine when you have one or two properties, but if you start expanding your portfolio there gets to be a time where you have a lot of money sitting there not working for you.

If you have five properties each with $5,000 set aside you’re looking at $25,000 that you could likely use some of to either expand your portfolio further or find some other use for.

If you had ten properties that becomes $50,000 and after that it gets even crazier. So while it’s good to have that reserve, when you start getting bigger, you may want to consider other options. Or even start that way.

Even if you only have a single property, there are still other options to consider.

Setting up a line of credit on your personal residence can give you quick access to cash in the need of a major repair without incurring any major costs when it’s not needed. This will give you ready access to funds rather than locking up your own cash.

Depending on how long you’ve owned your rental property there may be an option to put a secured line of credit on your rental as well (a secured line of credit is attached or “secured” to the equity in your investment property helping to protect the lender). Secured lines of credit tend to have lower interest rates, but it may be more problematic getting one on a rental property and it may require additional equity.

Credit cards can work to cover unexpected expenses, but this usually means a very high cost of borrowing and is probably one of the least desired options. But it’s an option!

The important thing is to plan ahead for those times of need so you don’t become the needy one!

Do you have reserves set up? Options like Lines of Credit? Share your safety net with the others and we can all benefit! I always love to hear your feedback.

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Landlord Business, Landlord Information, Property Management, Rental Property Renovations

Why Discounting Your Rents Is For Amateurs

February 11, 2014 By Landlord Education

And Why Professional Landlords Get Premiums!

make your rental stand outFirst month free. Free TV with purchase. Don’t Pay until…..

You see these types of discounts in ads everywhere these days. You also see these types of businesses that promote like this come and go and there’s a reason. They trade in commodities.

Commodities are items that have little value and are typically traded or bought for the lowest cost. Trading in commodities is not good business for the simple reason that you are tied into the lowest price. The lowest price doesn’t give you margin for error or more importantly for profits.

As a landlord, if you start offering discounts on rents to attract tenants, you’re turning your property into a commodity rather than a valuable asset. Yes, you have to be competitive, you can’t price yourself out of the market, but as a long term strategy, you want to be a leader rather than following the pack off the cliff.

Discounts are the easy way out and once you start offering them, they become expected. If you’re a retail store, maybe that’s to be expected, but to really succeed you don’t want to be the next Walmart or Target, set your sights higher and become a premium brand.

If you’re following some of my systems and tips, you know it’s important to be a professional and to treat your landlording like a business. If you become an educated landlord, one of the areas you need to look at is the condition of your properties and how they appear to prospective tenants.

We learned a long long time ago that if you spend a little extra initially to get the property better than your competitors it pays you back in increased rent, longer staying tenants and tenants that take better care of your properties. And here’s why..

The Argument For Increased Rent

If you do any tours of competing properties, even if this just involves reviewing other ads and photos of properties in your area, they all tend to be the same. Picture of the kitchen, picture of a bedroom, picture of a living room and some bad writing offering a price and maybe a few details.

Occasionally though, a few stand out. Usually they’re priced higher, the pictures look more professional, and the advertising copy looks polished. You want to be the landlord who is renting out that property for several reasons.

By looking more professional and by charging higher rent, you’re automatically going to push many of the less desirable tenants away. If they have a poor track record of paying rent, they understand a professional landlord will be screening them more thoroughly and they won’t even qualify. If the rent is higher, they understand they won’t be able to afford it and they will be cash strapped. And if the advertising copy comes off as professional it will also help to discourage them from even inquiring.

You move from quantity to quality and what you are looking for is quality tenants.

If you ever rented (I rented for years until my wife and I could afford our first house), you probably looked at a lot of properties before you found the right one. We personally couldn’t believe the condition of some of the properties that landlords thought were rentable. I still hear this from tenants when I question them how their search for a rental is going.

Once you did find the right one though, you had to have it. And it didn’t matter if it was an extra $100 a month, it stood out in your mind over the previous properties and it became even more valuable in your view point. This is the type of property you want and the mindset you want to instill in tenants that view your property.

Now, to get to this level, you may have to spend a few extra thousand dollars initially for extra renovations or updates, but this not only helps increase the overall value of your property, but that extra $75 per month, or perhaps $200 per month of extra income in a great property, sure helps increase your cash flow.

The Bonus’s of Better Properties

The extra cash flow isn’t the only bonus. If you have a better property, tenants tend to stay longer because it is such a great place to live. They actually become much more hesitant to leave as they don’t want to give up a  great property.

This translates into less tenant turnover and longer periods between vacancies. Which simply means more money going into your bank account for longer periods of time and that helps ensure you continue to be a successful landlord.

These tenants that are also willing to pay extra to live in this great property, also tend to take better care of it. If they truly take pride in where they live, they want to make sure it looks great and they keep it that way. You’ll end up with fewer repairs after tenants vacate, less work for when the turnover eventually takes place and if there are any issues with the property like leaky taps, these types of tenants will let you know immediately, rather than finding out after repairs become more expensive.

Unfortunately I can’t guarantee every tenant will be a success using this strategy, but in combination with other strategies, it sets you up for success.

How To Avoid Discounting Your Rents

So let’s recap some of the strategies that can help make this work for you.

Buy rental properties in rental heavy neighborhoods. This gives you a much larger tenant base to choose from. You start with quantity and narrow it down to quality.

Renovate your properties to help them stand out from competitors. This makes your properties memorable and helps you receive premium rents.

Write better ads with better pictures. Stand out from the crowd and get people appreciating your property and it’s value rather than looking for a commodity.

Don’t discount your rents to attract tenants. Tenants that are attracted to discounted rental units will also leave quickly if they can get a better deal. Don’t be a commodity, create an environment where tenants want to come home to.

So, did you find this helpful? If you did, could you do me a favor and share this with at least two other landlords you know? The more landlords we have out there that are better educated and running true landlord businesses the better the environment for tenants, which makes a landlords job easier. It turns into a win win situation, so spread the word!

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Investing In Rental Real Estate, Landlord Business, Rental Property Renovations Tagged With: advertising rental properties, buying rental properties, investing in rental properties, landlord business, landlord education, marketing rentals

Landlord Tools of the Trade – Painting Tools

October 7, 2013 By Landlord Education

Landlord Tools

Painting Tools for Landlords

Every business has the tools of the trade, whether it’s wrenches for a mechanic, spreadsheet for analysts or even color swatches for designers. Knowing what tools to have can make those jobs easier, faster and hopefully more profitable.

The same can be said for the landlord business. So to provide some ideas of items you may want to have, I’m going to create a few articles with some of the items and tools I use to make my work easier and in turn, hopefully yours too.

Speed Up Your Painting

Hopefully you’ve seen my previous article/video about choosing paint colors (A Quick And Easy Landlord Renovating Tip), if not maybe go take a quick look at it after you’re done here. It gives you some ideas about saving time later and it revolves around painting which is where today’s tools come to play.

Now as much as I would like you to hire someone to come in and do the painting for you, it doesn’t always work that way. Hiring someone may not fit in your budget, you may have plenty of spare time or you may even find it relaxing. So if you’re doing it, make sure you have the right tools to get the job done.

I actually have several of the tools I take with me whenever I have to paint a property in the image at the top of the page. The obvious ones are the huge bucket of paint, the small ladder and the drop clothes. The less obvious ones are the scraper on the floor, the roll of sandpaper (the sanding block actually isn’t in the picture, but you’ll want one of those too) and my handy rolling stick.

Obvious Painting Tools

We buy the large buckets of paint as we use the same color in all of our properties and by purchasing in larger containers we save money. The small ladder allows us to reach the corners and top edges when painting. In my case I’m over 6′ tall, so I don’t need a very larger ladder, you might want to consider a slightly larger one if you need it. My wife actually has one with a shelf to set the paint on and it’s her favorite ladder for painting.

Drop clothes, these should be mandatory! You can purchase them from most paint supply stores, but we also use old sheets and for those paying attention the blue sheets are actually old sheets from the surgery ward in hospitals. No, they weren’t used, but they were thrown out and a friend who worked at the hospital donated them to us. They are AWESOME!

Having drop clothes can save you a ton of clean up after the fact and although it takes a bit more prep time to lay them out, you will be thankful the first time a big glob of paint falls on them.

Less Obvious Tools

The less obvious tools are the scraper for cleaning up edges, removing silicon or for outside wooden frames with pealing paint. The sand paper may actually be one of the most important pieces.

I could probably turn this into a five thousand word article about painting, but to keep your attention, I’ll gloss over a few things, and just do some Coles notes on them. Starting with prepping the walls. The amount of prep work you do prior to painting will really help determine how it looks.

If you spend extra time mudding and sanding any imperfections, patching any plaster that is damaged and scraping any old paint off it will make the finished product so much better. That sandpaper you brought with you is worth it’s weight in gold to accomplishing that goal.

On top of that, doing a quick sanding between coats can also help create a smoother finish along with helping the second and/or third coat adhere better. Don’t skip this step.

That brings me to one other tool we use in concert with the sanding, the painting pole. Obviously we use this with the roller (should I have mentioned the roller as an obvious tool?), but we also have special sanding blocks that attach to the painting pole as well. This makes the process of doing a quick scuff up of the wall fast and easy.

It’s a quick sand, you don’t want to take the paint off, just scuff it a bit to smooth out any imperfections and to allow that next coat to stick more. Trust me, if you haven’t been using a pole already for rolling the walls, just having one will make a huge difference in your speed (and it makes you back feel better too).

Finally, don’t forget a couple plastic bags full of rags. This is dual purpose. The first time you paint a wall a new color you’ll need to do a couple coats. Wrapping your paint brush in a wet rag and leaving it in the fridge over night will help stop the paint from hardening allowing you to come back the next day and apply the second coat.. You’ll also be able to use the rags to touch up any booboos.

The plastic bags (sorry environmentalists) work great with the roller and the rolling tray. If you need to come back later or the next day for coat two, make sure the tray is full of paint, the roller is soaked and then then cover the tray with two bags, one over the thick end first, then across the other end. It keeps the air away from it and allows you again to set it aside until the next day without worrying about the paint hardening or destroying the roller.

Other Painting Tips

This one is a little more advanced and may not work for you, but we don’t use painting tape. We cut in by hand along the ceilings, baseboards (when we don’t remove them first) and door frames. It takes a steady hand and it doesn’t hurt that my wife is an artist as well so she can follow the lines. I’ve just had lots of practice and I stock extra rags in case I mess up…

If this is something you’re going to try, make sure you have a two or three inch wide wedge style paint brush as the wedge shape helps keep that line and we find it’s a bit easier on the hands. If you’re not familiar with this, it’s just having the tip of the brush angle down instead of squared off when you are looking at the brush when it’s flat on the floor. See the image for a visual explanation.

Paintbrushes

If you use drywall mud to patch holes, go over the mud after you patch with a wet rag. It will remove the excess and just leave the filled in hole making the wall look smoother instead of patchy.

You can use stir sticks to stir paint that has been sitting for a while or you can purchase attachments for your drill that will do a much better job of stirring paint. If you do a lot of painting, this attachment can be very handy.

Remove all switch plates and electrical covers and bring a couple boxes to put them in so they don’t get lost. If they are grimy and dirty we often put them in the sink with a little dish soap or cleaner to soak. then we remove them and wipe them down with some of our plentiful rags later and they come out much cleaner. If they aren’t coming out clean, consider purchasing new ones or the work you did making the walls all pretty is for nothing.

Did I miss any handy tips or tools to make your next painting project easier? Do you have some you can share with me? Either way I’d love to hear your thoughts about these tips and whether you would like access to more of the tools I use and how to take advantage of them to their fullest. So leave me a comment below.

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Landlord Business, Rental Property Renovations Tagged With: landlord advice, landlord tip, landlord tips, rental properties, rental property renovations

Interview With a Landlord

September 23, 2013 By Landlord Education

Can you believe it’s fall already? Time has absolutely flown by and I apologize for the extended layoff with videos and posts. I think putting that Screening Course together in August threw me off further than I thought.

On the positive side, I have more information started that I want to get out to everyone and it starts with an interview I did last week with a landlord I’ve been mentoring for the last four years. I’d known Tim before he started in the landlord business and since he knew what I did, he reached out to find out more about being a Real Estate investor.

I think I gave him enough to get started as it wasn’t too much longer before he picked up his first rental property and now he’s got several in his portfolio and isn’t done yet. With an eye for analyzing potential properties he’s done well in picking some properties with great potential, but he’s also had some hiccups along the way.

In this 8 minute interview Tim sits down with me and goes over some of what he has discovered along the way and shares a bit of his story, I hope you enjoy it.

If you did enjoy this and feel your story would be interesting and informative to others I’d love to set up an interview with you. Since our readers are scattered all over the country I can do interviews via Skype if that works or I can even set up an online meeting to record our conversation.

To get started, email me at info@TheEducatedLandlord.com and let’s help make you famous!

 

Bill

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Investing In Rental Real Estate, Landlord Business, Landlord Video Tips, Property Management, Rental Property Renovations, Tenants Tagged With: avoiding problem tenants, buying rental properties, investing in rental properties, landlord tips, Property management, rental properties, rental property accounting

Quick Update On Our Latest Floor Renovation

September 9, 2013 By Landlord Education

Replacing Laminate In Our Rental

What a crazy week! As it always seems to happen, if I take a long weekend off from work, I really pay for it the next week and this last week was no exception. Oh and I lied about the quick update, go get a coffee or tea, I couldn’t stop typing…

In my previous post, I talked about upgrading some water damaged floor in one of our shared accommodation properties with a newer product our flooring guy recommended called Sobella.  Well it was installed last week and it looks great.

Before and After shots of new flooring in Rental Property

I spent all morning removing the baseboards, moving the fridge, stove and other furniture out of the way, pulling the toilet and tearing out the old vanity and then finally removing the flooring. Now I normally recommend bringing someone else in to do a bunch of this for you, but sometimes you just have to get your hands dirty.

If this is the sort of thing you like to do, here’s my rogues gallery of essential tools.

Floor Demo Tools

Various pry and crow bars to remove baseboards and lift flooring, a utility knife to cut the silicone on the tops of the baseboards (this keeps the paint from pulling away from the wall) and the handy hammer to force the pry bars and crowbars when needed.

As always seems to occur, once you start a job like this you always end up with additional problems or headaches along the way. This was no exception. After spending hundreds and hundreds of thousands of dollars on reno and flip projects, here’s one rule I always employ when looking at my renovation budget.

Always count on exceeding your initial budget by 10%, and then add another 10% on top of that. Then hopefully, you end up under your budget. You never want to run out of money on a renovation, so that cushion can help protect you from unforeseen hiccups or hidden issues. And sometimes even this may leave you short!

One rental property we bought we needed to move some walls around in the semi finished basement to put a bathroom in and to finish it off properly. Part of this project involved removing the 1970’s style paneling form the outside walls. Once we removed the paneling, we discovered the homeowner had cheated and used 2 x 2’s as studs and insulated the concrete outer walls with cardboard rather than actual insulation.
Once we saw this, we were suddenly faced with rebuilding and insulating the entire basement which was the proper, yet expensive, thing to do. Needless to say, this blew the budget out of the water, but we got it done and made the property, better, warmer and a little more valuable.

We had inherited the installed laminate flooring with this property and although it looked fine in the most visible areas, in the kitchen, behind the appliances and in the bathroom I ran into some of those little issues that pop up.

First with laminate flooring, you need to let the floor float as it expands and contracts with the seasons. To allow this floating, you need to leave space against each wall allowing it to expand without buckling. If you leave too much space though, the floor can move and start to separate, which occurred in the kitchen.

Laminate flooring separating

Normally, you can use some special tools to tighten up the flooring and fix it, if you catch it early enough. But if the gaps against the walls are too loose, it will just happen over and over. Or if you tenants don’t tell you about it and food and crumbs collect in the gaps, you can’t tighten it either.

Since we were just ripping it out, this wasn’t going to be a problem, but then more problems. In the bathroom, you really want your flooring to be up tight against the toilets closet flange. The closet flange is basically where the toilet sits on the pipe and if the flooring is tight, you can easily seal it with silicone. Then if Toilet leaking under the flooringany leakage occurs, it shows up around the toilet, rather than getting caught between the flooring hidden from sight.

Guess what, yep, the flooring wasn’t tight and water had gotten underneath the laminate and on the sub floor. Fortunately it wasn’t too bad, it must have been a fairly recent leak and there was no mould, but I still had some water to deal with. So I removed the flooring, mopped up the excess water and now had to run to my storage garage to grab my huge industrial fan to start drying it out.

With water, it’s important to get the air flowing to help dry it out quickly and reduce complications like mould and ages ago we had acquired a very large industrial type fan unit that looks like a mini furnace, except it has a huge blower in it. More lost time.

Old parquet flooring under laminate

Finally, after several hours, I had all the flooring pulled and now I could see what we had to work with. This was the part the fellow who quoted us was worried about. We had a hodge podge of regular particle board sub flooring, old laminate and even parquet (yep it’s that old), all buried under the laminate.

I did have to use some filler in the bathroom where it looked like they used scrap pieces to fill in sections under the bathroom cabinet, but overall it wasn’t too bad. Since it was a new type of flooring to me though, I ended up calling the person who did the initial quotation and explained what it looked like.

He was only about 20 minutes away, so he offered to come over and take a look and once there, other than the bathroom section, thought the rest of the area the installers should be good with. So onward and upwards.

Fast forward to the next day and the installers met my wife at the property so she could explain everything to them and let them in (I had meetings that morning). Once they started, she ran off and took care of some other projects we had going on.

NEw sobella flooring installed in our rental propertyBy the time I finally arrived just before 1, they were already 90% complete. And it looked great!

We were originally told they would be able to install it as one continuous sheet, but once the installers looked at the layout they decided they would need to have one seem due to the layout.

In the after shot at the beginning of this, you can see the line of tape marking where they had to place it. With the little island that sticks out in the kitchen, it was a challenge to run the heavy section down without tearing it there.

Now that it’s installed you don’t even see the seam unless you know it’s there and the floor looks and feels great.

They ended up finishing by two (a five hour install) and this gave us another hour to make the next day’s list of projects to move this reno forward before we went to the dump with our old laminate.

As I mentioned before, that 10% add on to your budget (plus another 10%), gives you a ton of flexibility. Once we went through we decided to replace all the baseboard in the bathroom, to upgrade the fan fixture in the kitchen eating area and to do some quick painting in worn areas.

The fan and baseboards increased the cost, but we just happened to have over half of a five gallon bucket of Tequila (8672W) paint left over from another property. Since the property was originally painted this colour, it just meant some light sanding and minor touchup for prep work and good to go, but that was the next days’ project.

Onto the fun stuff. The flooring has been in for almost a week now and the tenants all seem to like it. This is in a shared accommodation property, so the guys are definitely hard on flooring and after the first week it’s holding up.

The flooring looks so much like wood that we also ran into a couple fun comments from the guys. There is a definite texture on it that imitates wood grain and one of the basement tenants who looked at it said they should have sanded the floor down a bit more (he thought it was real wood).

Another tenant who lives on the main floor noticed that the installers had forgotten to cut the floor vent out. He wanted to know if I would be back that night with a saw and drill to cut it open as he had an early morning the next day. He also thought it was real wood. I simply cut it out with a utility knife and dropped in the new vent we had for it. No drilling, so sawing, just a couple minutes work.

This type of article is definitely straying from the normal information I post. My question for you, Has it been helpful? Would you like more walk throughs of renovations projects, some of our day to day operations and other interesting parts of our lives as landlords, or should I just stick to the weekly tips and videos like I have been?

If you could take a minute or two and either leave me a comment below, or email me directly with some feedback, it would be extremely helpful and help shape what future articles look like. This project and the long weekend before have thrown my videos and posts schedule for a loop, but hopefully with the kids back in school and life on track I’ll have my next series of videos out and available over the next week.

Share this with your friends:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • Email

Filed Under: Landlord Business, Rental Property Renovations Tagged With: landlord advice, landlord tip, rental property renovations

  • 1
  • 2
  • Next Page »

Resources

Rooming House Resources - Tips and information about rooming house properties
Beginning Landlord Resources - Tips and information for new landlords and beginning investors Landlord training - guides and resources - Guides and courses for new landlords

Need A Lease?

Residential Lease Agreement

Recent Posts

  • When Should You Send A Notice For Rent Increase March 4, 2020
  • Using Prorated Rent To Attract Tenants December 4, 2019
  • Surround Yourself With Other Landlords October 1, 2019
  • What Landlord Classes Do You Need? September 19, 2019
  • A Landlord’s Guide To A Tenant Walkthrough September 3, 2019

Current Discussions

  • Landlord Education on Basics of Rooming Houses A Beginner’s Guide
  • Interested party on Basics of Rooming Houses A Beginner’s Guide
  • Landlord Education on Contact Us
  • Raghav Grover on Contact Us
  • Landlord Education on Basics of Rooming Houses A Beginner’s Guide

Copyright The Educated Landlord © 2025