1) Walk thru list - Walk up to the Property, thru the front door and thru all the rooms. Make a list of all the things you see that might be questionable in appearance to a prospective tenant.
- Paint peeling or Dirty
- Broken or Damaged
- Not closing properly or functioning
- Dangerous looking
2) Desirable List - Make a list of Items that would be desirable to a prospective tenant.
- New Stove or Appliance(s)
- Light fixture
3) Reality Check - Compare the Rules for Renting with your List
4) Hire a good handyman/contractor to help you make the improvements. Unless you yourself are a contractor, find someone to help you. Most things done in the apartment can be done for a basic labor cost. All money you spend is deductible. Read our article on "Making your Contractor Great" for ideas on how to choose the right people to help you. I started out doing all the work myself in rental apartments and soon found out it was faster and cheaper to hire someone. It is a business and the most unreliable thing to do is think you can take care of all of it yourself.