Whether as an investor or an accidental landlord, the time will come when you are ready to sell your property. Regardless of whether it is to reinvest in a new property or you never intended for your home to be a long term rental, you need to be aware of how to get top market pricing for your property.

Many times, we take on a property for property management and it looks great. The property flooring is clean and well kept, the appliances are nice, the cabinets and counter tops all show well and the home overall has a nice appearance. Fast forward 10 years later and now you want to sell. The problem is that during that time, those white appliances aren't really super stylish and the polished gold fixtures the builder installed now seem a little dated.

The problem isn't that the home is in bad shape, the problem is the home looks like it did 10 years ago but now with 10 years worth of wear. The main problem with selling a home that has been rented isn't really the condition, it is often the lack of updates.

We aren't telling you that you need to spend money right now on granite and wood floors and top of the line appliances. What we are recommending though is to do your planning. If you think in a couple of years you may want to sell, talk with your property manager about what updates need to be added to get a strong value. If you bought your home from the builder and it has white appliances and laminate counter tops, if the price warrants it, you may want to start saving for granite and stainless steel. When the sales start coming around major holidays, that might be the time to buy those appliances since you will get discounted installation and free delivery.

The return on the investments? We generally will see a 125% return on flooring, counters and appliances. On top of that, you will have decreased time of on market saving on property taxes and insurance. Add in new flooring and paint and you are in even better shape. 

Unfortunately, with all of the HGTV shows we see, many buyers just don't have the vision or the patience to do the jobs themselves. We are seeing people paying more to get the home they want rather than the home that needs updating.

Your property manager should always be able to assist you in making the right long term investments when it comes to repairs and updates. And because of the volume most companies do with vendors, you should be able to get a great price!