Slum lords leave money on the table. A well-cared for property is smart business for you as an investor:
(1) Prime condition properties rent and sell for more, and they rent faster (reducing the dreaded turnover cost).
(2) Tenants stay longer in well-cared for homes. The main concern every tenant has is: will you fix things when they break? They really are not sure because so many companies don’t do it promptly, and many times not at all.
(3) Your property actually lifts values in your neighborhood. Your example of ongoing property care raises yours from a “rental neighborhood” to one with “pride of ownership,” which further enhance’s your home’s value.
(4) Resale value is dramatically effected by how well-cared for a property is over time. You can’t fake it at a sale.
Yes, it costs more to really care for your property, but that is small thinking. You have an INVESTMENT, that you keep investing in to enhance and protect its vale. It is what every smart, profitable wealthy real estate investor does. That is how they got there, and there is not another path.
Less property care and maintenance means less profits. Period.