My wife and I were getting close to retirement age and were thinking of some ways we could make a little extra money. We are blessed with several acres of land out in the country and thought that constructing residential rental properties and renting them out would be a wise investment for the future.
We talked to a local contractor who agreed to construct some small, high-quality apartments for us. They began work quickly and got them finished in record time. Once they were completed, we talked to a realtor whom we planned on using to rent the apartments. When she came over and examined the apartments, she said the apartments looked great. They were constructed well and had the added appeal of being out in the country.
She gave us a few recommendations to help us rent out the units more quickly. She said that adding appliances to the units would allow us to raise the rent a bit and encourage potential renters to sign a lease with us. We agreed with her assessment. One other option she gave us to increase the value of the units was to have back decks added to each unit, so they would all have private sitting areas and a place to put a grill and patio furniture. At the time, they only had some dirt and a small span of grass out back. We loved the deck idea as well.
We easily took care of adding appliances and had them installed without much hassle. However, constructing the decks was a slightly different story. We called the contractor who constructed the units and asked him if he could do the job. He gladly accepted and suggested we use a decking product called Rhino Deck. He said he had used the company’s products in the past and was very happy with the way the decks turned out. He said the material was made of composite wood and so would not wear down like wood or require as much maintenance. The product also came in a variety of colors. That sounded great to us. After all, anything to reduce our maintenance workload was a good idea.
Once our contractor was able to work us in, he began construction on the decks and had them completed quickly. We were thrilled with the end result. The units were just beautiful, and we couldn’t wait to rent them out. During the construction period, we had a waiting list of possible occupants started, so we began calling them up and telling them the units were ready. After running background checks, signing papers and all the other fun things that go along with renting out a place, we had all our units full.
We have enjoyed being landlords more than we thought we would. Our renters all are great. They pay on time and have become like a second family to us. We know we have been fortunate to find them. Incidentally, they all have told us that the deck is one of their favorite features of the units.
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