Back to my story of the 2 bed, 2 bath, 2 story condo in Chapel Hill renting to UNC students because of the great location and a private bath for each bedroom.

We used to pay a property manager to handle getting tenants and managing the property until I went into the condo one summer and saw why it hadn™t rented. The management company hadn™t kept it up. It wasn™t that we weren™t willing to pay, but they didn™t tell us what needed to be done.

First thing I did was to take over the property management and replace the refrigerator with a new one. Second, I advertised in a variety of places. Third, I lowered the rent. I found renters though we didn™t break even that year. The next year I advertised early and it has been rented ever since.

Over the years I redid the downstairs floors in Pergo flooring instead of carpet. Replaced the AC unit, hot water unit, new blinds, put in new lighting, redid one bathroom. If I am going to raise the rent, I would take out the carpet upstairs and put down new flooring, repaint the kitchen cabinets, repaint the walls. Did I say that my husband loves when I devise new projects that need money?