More than 50 percent of independent landlords expect the market to continue to underperform and are renovating their properties to woo tenants, the National Association of Independent Landlords reports.
Of those doing fix-ups, more than 75 percent are sprucing up their properties to attract new tenants, while 42 percent say they are renovating to keep existing tenants.
Most of them are concentrating on low-budget improvements, the association says. Popular improvements include new carpeting, fresh paint, and minor improvements in the kitchen.
Source: National Association of Independent Landlords 911/18/2009)