Protect Your Investment: How to Properly Maintain Your Rental Property
As a rental owner, it is your duty to ensure that your properties are maintained and livable, not just for your tenants but to preserve the physical value of your building. A well-kept rental property can increase your profits and entice good tenants to stay. While unforeseen issues are at times unavoidable, following a set maintenance routine can minimize costly repairs and prepare you for any potential problems.
If you are playing the real estate market, investing in properties for rent in highly trafficked areas, and trying to get a massive turnaround, follow these maintenance tips and tricks to ensure your properties are up to par, and will increase your property’s value.
Interior and Exterior Inspections
Before your next tenants move in, it is essential to properly inspect both the interior and exterior of your property. Performing a thorough inspection can help you identify any repairs or improvements that may need to be done. Here are some examples of what should be inspected.
Interior
Paint
Look for any signs of old or chipping paint that may need to be touched up. It is essential to have a fresh and clean interior for your tenants.
Water Heater
Make sure the water heater is in proper form. There is nothing worse than getting a call from a new tenant that there is no hot water.
Heating and Cooling Systems
Thoroughly check the heating and cooling systems to ensure they are in working condition and free of debris. If necessary, replace the filters to ensure proper airflow.
Smoke Detectors
Always make sure the smoke detectors are in working condition to protect both your tenants and property in case of a fire.
Exterior
Exterior Painting
Not only does exterior paint make your property look presentable, but it protects the structure from moisture and sun damage.
Roof
Checking the roof is essential to maintaining a solid and safe building. Look out for missing shingles, damaged flashing, and the presence of mold or moss. You may also want to clear any hanging tree branches that could cause damage to your roof.
Windows
It is always a smart idea to make sure all windows are sealed correctly and free of gaps. Suitably sealed windows protect your house from moisture, and energy loss.
Landscaping
Look for anything that could be deemed hazardous for tenets, from broken trees to fungus on the walkways. A well-maintained landscape can also increase curb appeal and the value of your property.
Tenant Screening
One of the easiest ways to maintain your property is to find good tenants. Before signing a contract with your tenants, make sure they are thoroughly screened to ensure the property is in good hands. Run background checks and reach out to their former landlords. Having trustworthy occupants takes away any worry of potential issues and costly repairs.
Consider a Maintenance Clause
Even if you found the perfect tenants, drawing up a maintenance clause can ensure that your property is well kept. It is crucial to highlight the importance of taking good care of the property and to define the responsibilities of both parties. If renters understand they are liable for certain damages, they will make more of an effort to take care of the property.
Develop a Maintenance Routine
Of course, maintaining any property calls for hard work and dedication. However, developing a thought-out maintenance routine can break down tasks and simplify the workload. Make a list of the most important aspects of your property to manage and schedule maintenance and repairs as needed.
Hire a Professional
You can’t do everything by yourself so consider outsourcing some of the work to save you time and energy. Hire landscapers to maintain the yard and professional technicians to maintain and repair appliances and HVAC systems.
Act Immediately
If you or your tenants notice something wrong, it is essential to fix the issue before more damage occurs. Not only will this establish a trusting relationship with your tenants but it could save you money on costly repairs.
Follow These Guidelines and Be Proactive
The best way to maintain a rental property is to be proactive. Taking the necessary steps and following these guidelines can minimize issues and prevent costly repairs.
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