Marc D. Romanelli

Marc D. Romanelli

Welcome to the digital home of Marc D. Romanelli, a seasoned craftsman, entrepreneur, and respected figure in the worlds of home contracting and residential property management. This platform showcases Marc’s multifaceted career, rooted in hands-on expertise and elevated by a commitment to quality, reliability, and community connection. From pioneering mobile audio/video services to thoughtfully managing a portfolio of residential homes, Marc Romanelli of Lexington, SC, has spent decades building a legacy defined by hard work, trust, and entrepreneurial spirit. Beyond his professional pursuits, Marc is dedicated to enriching the lives of those around him, whether through mentorship, neighborhood revitalization, or animal advocacy. With a sharp eye for detail and a heart grounded in hometown values, Marc D. Romanelli continues to shape spaces and relationships that stand the test of time.

Marc D. Romanelli

Marc D. Romanelli’s professional journey began in Utica, New York, where his fascination with audio and video systems first blossomed. He launched his career at Big Apple Music, swiftly climbing the ladder from a hands-on installer to a leadership role. Between 1989 and 2002, he managed store operations, honing both his technical knowledge and managerial expertise.

Driven by entrepreneurial ambition, Marc Romanelli of Lexington, SC, went on to create Big Apple Mobile, a service-oriented business designed to meet the audio and video needs of regional auto dealerships. His venture thrived under his guidance until 2007, when he sold the business to Dealer Electronic Services, marking a successful exit from his first independent enterprise.

Now based in Lexington, South Carolina, Marc splits his time between contract work and managing a growing portfolio of rental properties. Over the last decade, he has carefully acquired and maintained four residential homes, approaching property ownership with the same level of precision and reliability that defined his earlier career.

Outside of his work, Marc Romanelli is a devoted animal enthusiast. His household includes a senior dog and three affectionate cats, all of whom he considers beloved companions. Though he has put down roots in the South, Marc maintains a deep and lasting connection to his hometown of Utica, where his family still resides. The values and experiences from his early years continue to shape his personal ethos and professional integrity today.

Budgeting for Property Upgrades: Short-Term Fixes vs. Long-Term Investments

For landlords and property managers, navigating the financial landscape of property ownership often comes down to one persistent question: Where should the money go—quick fixes that make properties look good, or major investments that secure long-term stability? Striking the right balance between short-term cosmetic enhancements and long-term structural upgrades can significantly impact both tenant satisfaction and the financial sustainability of your property portfolio.

Marc D. Romanelli breaks down how landlords can prioritize spending, analyze the pros and cons of various upgrade strategies, and offer practical tips for creating annual budgets that accommodate both immediate needs and future growth.

The Tug-of-War: Cosmetics vs. Core Improvements

Cosmetic Upgrades: The Appeal of Instant Gratification

Cosmetic upgrades are relatively inexpensive improvements designed to enhance the visual appeal of a property. Examples include:

  • Fresh paint
  • New cabinet hardware
  • Updated light fixtures
  • Landscaping and curb appeal
  • Laminate flooring installation
  • Modern appliances

These changes are often implemented between tenant turnovers or during brief vacancies. The primary benefit? Immediate ROI in the form of higher rent prices or faster occupancy. Properties with modern finishes and visual appeal tend to attract tenants more quickly, reducing the cost of prolonged vacancies.

Marc D. Romanelli understands that cosmetic upgrades have limitations. They may mask underlying problems without addressing them. For example, installing new flooring in a unit with outdated plumbing might offer a temporary aesthetic boost but does little to prevent future repair emergencies. In essence, cosmetics can become a form of “lipstick on a pig” if structural or systemic issues persist beneath the surface.

Long-Term Investments: Building a Foundation for the Future

On the other end of the spectrum are long-term, essential upgrades. Marc Romanelli of Lexington, SC, explains that these improvements may not be immediately visible, but they provide the framework for sustainable property management and tenant satisfaction. Examples include:

  • Replacing roofs
  • Upgrading HVAC systems
  • Plumbing and electrical overhauls
  • Energy-efficient windows and insulation
  • Foundation repairs
  • Pest and mold remediation

These upgrades can cost thousands of dollars but often extend the life of your property, reduce emergency repairs, and enhance long-term tenant retention. Additionally, long-term investments can make properties more attractive to future buyers, should you decide to sell.

The challenge? Long-term upgrades rarely offer an immediate return. They can strain budgets in the short term, particularly if financing or reserves aren’t in place. Nonetheless, deferring these improvements often leads to larger issues down the road, and potentially catastrophic expenses.

A Framework for Prioritization

How can landlords navigate this dilemma and create a structured approach to upgrades? Marc D. Romanelli shares a useful framework:

1. Assess Immediate Risk

Start by identifying any potential safety hazards or code violations. These are non-negotiable and must be addressed first. A leaky roof, faulty wiring, or poor ventilation isn’t just inconvenient—it’s a liability.

2. Evaluate Tenant Experience

Next, determine which cosmetic improvements could have a meaningful impact on tenant experience. Ask yourself:

  • Is this cosmetic upgrade likely to reduce turnover?
  • Will it allow me to raise rents within legal or market-based constraints?
  • Could this be a deciding factor for prospective tenants?

3. Calculate ROI

Break down the expected return on investment for each type of upgrade. Cosmetic upgrades might have a quicker payoff, but long-term improvements could reduce operating costs (e.g., through energy savings or reduced maintenance).

4. Consider Property Lifecycle

The age and condition of your property can guide your upgrade strategy. For newer properties, cosmetic touches may suffice. Older buildings, however, likely need more robust infrastructure upgrades to remain competitive and compliant.

5. Align with Your Business Goals

Are you aiming for short-term cash flow or long-term asset appreciation? If you’re planning to hold a property for decades, prioritize foundational investments. If you plan to flip within a few years, you may lean more heavily into cosmetic enhancements.

Building a Balanced Annual Budget

An annual property budget should account for both planned and unplanned expenses. Marc Romanelli of Lexington, SC, shows how to approach this systematically:

Allocate for Routine Maintenance

Plan to set aside at least 1%–3% of your property’s value per year for maintenance. Marc D. Romanelli explains that this budget should cover:

  • Plumbing and HVAC servicing
  • Pest control
  • Appliance replacements
  • Landscaping
  • Routine cleaning and inspections

This routine maintenance helps delay major repairs and extends the life of fixtures and systems.

Create a Capital Expenditure (CapEx) Reserve

In addition to regular maintenance, establish a CapEx reserve fund to cover long-term improvements. Marc Romanelli of Lexington, SC, explains that this is particularly important for properties over 10 years old. Schedule major upgrades like roofing or HVAC replacement several years in advance and save accordingly.

You can use tools like a property condition assessment or a capital needs assessment (CNA) to forecast major expenses over 5–10 years and distribute those costs annually.

Budget for Cosmetic Refreshes

Assign a separate line item for aesthetic upgrades. These can be deployed during tenant turnovers or when market conditions justify a rent increase. Focus on upgrades that are:

  • Cost-effective
  • Easily installed or removed
  • Neutral in style and color to appeal to a broad tenant base

Factor in Emergency Repairs

Even the most prepared landlord encounters unexpected costs. Allocate 5%–10% of your budget for emergencies such as water damage, electrical failures, or HVAC breakdowns. Keeping this reserve liquid is essential for fast response and tenant satisfaction.

Practical Tips for Implementation

  • Use Software Tools: Property management platforms like Buildium, AppFolio, or Stessa help track maintenance costs, forecast future expenses, and allocate budgets.
  • Inspect Regularly: Schedule quarterly or semi-annual inspections to catch issues early before they require costly fixes.
  • Leverage Tax Incentives: Some long-term upgrades—like energy-efficient improvements—may qualify for local or federal tax credits.
  • Communicate with Tenants: Proactive communication about upcoming projects fosters goodwill and cooperation, especially during disruptive renovations.

The Value of Strategic Spending

Successful landlords don’t just react to problems—they plan for progress. Marc Romanelli of Lexington, SC, understands that cosmetic upgrades make properties competitive, but long-term investments keep them functional and profitable. Balancing these priorities through a well-crafted budget ensures that properties remain safe, desirable, and financially viable over time.

Marc D. Romanelli emphasizes that by assessing risks, projecting returns, and setting aside adequate reserves, landlords can make informed decisions that benefit both their tenants and their bottom line. Whether you’re managing a single-family rental or a portfolio of multifamily units, a strategic approach to property upgrades is the cornerstone of long-term success.