Here Is Your Open Thread

After finding a two-bedroom one-bath fixer-upper in the financial district last fall, Kelly and Brandon Michon went to work ripping out musty old carpets, dated kitchen appliances and damaged flooring; they scraped away layer upon layer of paint, wallpaper and plaster that had been slapped up over the years.

Now, with some hired professional help, the couple are finishing the second phase of an extensive renovation that will include everything from new electrical wiring and hardwood floors to a redesigned kitchen and bath. The total cost: at least $45,000.

None of this would be unusual, except that the Michons are renters, not buyers.

Why would renters want to drop $45,000 for renovations on an apartment they don’t own? Perhaps if you enjoy doing renovations and can get a steep discount in rent from a landlord in exchange for making the updates, it could be worth the money and effort.

Some property managers are into it and are happy to provide a discount for the work: “The renovation is more ambitious and of a higher quality than most landlords would normally invest in,” one notes.

Photo: Sarah Ackerman

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