In a rent-controlled world, how do you collect above-market rental rates when the government has determined how much your rental increase should be? The truth is, you can’t…unless you vacate a unit legally by completing “substantial improvements.”
How do you determine if a rental unit warrants substantial improvement? Through the process of my own personal rehab project I will answer that very question, and have video catalogued the whole process for you.
In this Week’s Video, we review the progress of my most recent rehab project which is 2 weeks from completion. I walk you through the layout, finish materials, and discuss which options yield the highest rental payouts!
This is the second installment in a 4 part series as I attempt to assist those landlords who avoid extreme renovations because they assume the process is too much hassle, they do not have the “know-how,” fear that the process is too costly, or incorrectly assume the final payout does not justify the capital investment.
What is my goal? Bottom Line – I want to help landlords obtain maximum cash-flow in a rent-controlled market, and accelerate the appreciation of their properties. Why else would we own rentals???