The old saying goes "no risk, no reward," and owning a rental property can be quite the risk. Keeping tenants pleased can feel like walking a tightrope, and one of the key factors in doing so is making sure the property stays up to date and cared for. Remodeling your rental property may feel like even more of a risk, as the idea of spending money on renovations without reaping the rewards is off putting to say the least. However, remodeling could be just the thing your property needs to attract quality tenants, keep them happy, and maximize value. Here are a few things to consider.
1. The Tax Write-Off