Ultimately, whether or not renovations are worth it depends on your goals and financial situation. It stands to reason that the more money that is invested into your rental property, the higher return you'll get in terms of both rent price and resale value, however, this long-term gain doesn't always outweigh the short-term cost implications for landlords. We recommend that landlords closely examine all the various factors and weigh the pros and cons of renovations before beginning any new projects.