Advice on a rental
We have an offer in for a short sale condo. Actually two of them, but weÃ¢ÂÂre planning (hoping?) that only one goes through. One is vacant and needs new flooring in the kitchen and bathroom before we rent. The paint is OK but itÃ¢ÂÂs to the former ownerÃ¢ÂÂs taste (light brown and cream) and not the most professional looking job. I like it, but some may not. The rest of the place is decent but not fancy and we should be able to fill it as-is for $50 less a month than the going rate. On the other hand, we could replace the kitchen counter, sink and faucet to potentially get $100 more. We can update the kitchen ourselves for less than $500 but would have to pay considerably more to have it painted.
Which do you think it more important, a fresh, neutral paint job or the kitchen? On the off chance we end up with both places we need to be prepared to do a little more to the other condo if the current renter doesnÃ¢ÂÂt stay, and want to maximize our initial output. Both condos will be fully remodeled and re-sold in a few years but, for now, we'd like to have happy renters. By far, the kitchen would be more important to me than paint but I may be the minority.