Chances are, if you’re a busy executive getting ready to invest in real estate, you might be worried that your lack of time or handy skills will hold you back from being able to get the property ready for renters. The good news is that you actually don’t need any handy skills at all to get a property ready to rent. When I acquire a new property that I am going to rent out, I look for ways to “refresh” the property rather than completely renovate, and my priority is to make the property safe and homey to attract quality long-term renters, but not to over-improve beyond what a property in that neighborhood is worth.

Typical improvements to get the property ready for renters are:

• New interior paint throughout
• New smoke alarms and carbon dioxide alarms (that comply with local city rental regulations)
• New appliances (if needed)
• New flooring (luxury vinyl plank in almost all spaces, and sometimes carpet)
• New light fixtures
• New faucets and/or vanities (if needed)
• New faux wood blinds (if needed)
• Landscape refresh and tree trimming

The key to getting these done is outsourcing to the right people, not doing it yourself. Trust me: as a busy exec, your time is far better spent making income at your current job than taking the time and hassle of doing these tasks. Also, time is money. Painting an entire house yourself could take you weeks over several weekends. Same for flooring. Getting a pro in there could cut that time down to 1-2 days. Every day you hold the property without a renter in it is money you are paying out of pocket for a mortgage without someone reimbursing you. So what seems like a cost-savings measure based on price alone could actually cost you far more in the long-run.

For flooring, appliances, blinds, faucets, vanities, and lighting, consider using a big box store. For flooring especially, they will come and do the install for you, so you don’t have to look for an installer. Hire a handy person to install the new blinds, light fixtures, smoke alarms, carbon dioxide alarms, and faucets/vanities. Look on a local app like Home Advisor or Nextdoor for local pros for painting and landscaping.

For all of these items, keep them simple. Remember, you are not building your dream home. When deciding what repairs to do, think “refresh,” not “renovation.” The goal is to make the property safe and desirable for long-term tenants to call home. The longer they stay, the less money you will lose in turning the property over and waiting for a new tenant. And the more “refreshed” the property looks, the faster it will rent out to a quality tenant.