PROPERTY MANAGEMENT
PROPERTY MANAGEMENT
Action steps for home owners and investors
• Verify NHBRC / BIBC / MBAWC compliance
• Request a full project plan and cost breakdown
• Get at least two comparable quotes
• Sign a detailed contract with retention clauses
• Check insurance proof before work starts
• Use quality materials— cheap is expensive
• Monitor progress weekly
• Don’ t pre-pay large amounts upfront
• Maintain clear written communication
• Bring in a property professional for pre-renovation advice
The payoff: Why renovating properly pays big
When executed with discipline, the right team, and a clear strategy, renovating delivers powerful advantages:
• Forced Appreciation
• You create value immediately, not passively over years.
• Faster Sales and Stronger Offers
• Modern, well-finished homes attract more buyers and stand out.
• Higher Rentals and Lower Vacancies
• Upgraded units command premium rents and attract better tenants.
• Reduced Long-Term Maintenance Costs
• Quality work now prevents expensive repairs later.
• Fewer Disputes and Zero Legal Surprises
• A compliant contractor and solid contract protect your money and your sanity.
• A Smooth, Professional Experience
With the right partners, you stay in control from start to finish.
Renovating for profit isn’ t just about adding tiles and paint. It’ s a strategic business decision that demands due diligence, credible partners, solid agreements, and market intelligence.
58 REI MAGAZINE DEC / JAN 2026