Why you shouldn’t invest in shiny new houses or apartments – Part 3

There is less maintenance involved in a new property

While you would expect this to be the case, it often isn’t.

You’ve heard the saying, "They just don’t make ‘em like they used to.”

It stands true in property as well.

New properties can and do have maintenance and structural issues, from peeling paint to cracks in the walls and ceiling, and building insurance policies only cover so much (and for so long).

In fact, I don’t think I’ve come across a major apartment complex that hasn’t had water leak problems.

In fact, over the last years the many structural problems, fire issues, and water problems in a large number of new high-rise apartment buildings have had them dubbed the slums of the future.

It also pays to look at the bigger picture, because if you buy an established property with the intention of adding value through renovations, you can always address minor maintenance issues then.

RealRenta has all the tools that a property manager has, but at over ¼ the cost of a property manager.

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RealRenta also has a free vision, so why not check it out

Jason Gwerder
Tuesday, 15 June 2021

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