In this Video:
- Why flooring costs are such a profit-killer in turnovers
- How to save money when installing carpets
- Why are excellent alternatives to carpets and hardwood floors
- How to protect hardwood floors
As always, we could keep talking, or we could just let you watch the video. It’s less than 60 seconds long!
A Few More Words for the I’d-Rather-Read Crowd
There are a lot of reasons why turnovers are so devastating to landlords’ profits. They’re a lot of work to fill, the unit almost always requires a good cleanout, and of course it usually needs painting and flooring work.
Tenants terrorize rental units’ flooring. They just do; after all, they know how hard it is for landlords to deduct from their security deposit over it. Carpets are often a mess after tenants move out, and hardwood floors look like an Etch-a-Sketch with all the furniture scratches.
How can landlords protect themselves?
First, try low-grade carpets with high-grade padding. The padding doesn’t have to be replaced between tenancies, even if the carpets do. And plush padding makes even cheap carpet feel soft and comfortable.
But carpet holds stains, allergens and wears down quickly from use. Consider bamboo floors, or faux wood floors, as an alternative. They’re more scratch-resistant and less expensive than hardwood floors (both huge pluses), and don’t need to be replaced every few years like carpets.
Already have hardwood floors installed, and want to protect them? Include a clause in your lease agreement, requiring tenants to put felt pads on all furniture feet before they move in. Write in the lease, in no uncertain terms, that if there are any scratches on the hardwood floors at move-out, the repairs will come out of their security deposit.
Flooring is one of the largest and most common repair/update costs that landlords incur; get proactive in protecting your floors and cutting your costs!♦
Have tips you want to share, to cut down on turnover costs? We love tips, and fellow readers like them even more!
These are great ideas. Last year I spent $2,500 on new carpets for my rental property, and I have to replace them between most tenants. Good thing my tenants stick around for 3 years or so, or I’d really be in trouble!
Yeah flooring is expensive, and tenants tear through it quickly. For mid-range properties, I like bamboo flooring. For lower-end, the carpet trick works well, or the faux wood. Keep us posted on your properties’ progress!
Thank you for sharing Brian. Terrific ideas!
Thanks Margaret, much appreciated!