If you own a rental property, you should keep a solid relationship with your tenants ...
If you own a rental property, you should keep a solid relationship with your tenants and also maintain the property’s value. As such, you will have to arrange for regular rental property maintenance schedules. Repair problems will always come up in all rental properties, and as such, they will need attention. The utility systems can develop issues thus resulting into the need to replace appliances on a regular basis. The property age and how it has been handled earlier affects the frequency of the property maintenance. In case you want to ensure that your property is well maintained, look no further, this article is meant for you. Below are 10 maintenance tips for your rental property:
1. Be Prepared
Renting of any property often brings additional expenses. The yearly maintenance expense should be about 1.5 times the monthly-required rent amount. However, the estimate will always vary depending on the age and condition of the home. This amount has to cover the maintenance costs of your rental property throughout the tenant’s lease time.
2. Understand Legal Regulations
The specific items of maintenance that landlords are accountable for vary widely depending on the location of your rental property. As such, it’s crucial to be familiar with the building laws and codes that relate to your obligations. If you don’t know the laws affecting your rental property investment, you have to contact the attorney general so that he can state clearly the effect of issues that affect your rental property.
3. Exterminate Regularly
Even when you don’t currently have insect or rodent problems, you must always exterminate the rental property on a regular basis.
Do not limit the extermination to one apartment because critters can easily travel to another part of your rental property. It’s possible for you to exterminate your rental property on your own. However, the task should be left to professionals in case you want to insure results.
Regular extermination can cost a lot but the preventative measures are much cheaper as compared to losing both the current as well as prospective tenants due to pest issues.
4. Check for Water Damage and Leaks
The perfect time to look for leakages is usually after heavy rains, after the snow and ice has started melting or during hot and humid days when the pipes tend to sweat.
Always check for the soft spots on ceiling, boilers, and the water heater. You should look out for the signs of water droplets near your toilet, window, and the shower. You should also look under the water sink, boilers, and heater. It’s always important to detect water leakages quite early because they damage ceilings, walls, and even the tenant’s belongings. Detecting leaks will also prevent the formation of dangerous molds, which can be very expensive to remove if it’s not tackled in time.
5. Keep Your Tenants Happy
Take good care of your rental property by responding to the tenants’ requests as fast as possible. This is a very important step in keeping them happy. A happy tenant is more likely to renew the lease. If you take great care of the property, they will appreciate it and value you as a landlord.
6. Change the Filters in Your Forced Air Systems
You should always change filters in the air conditioning and heating units at least two times a year.
Inquire from the manufacturer to identify a high-efficiency filter that suits your air system. The dirty filters usually increase the utility bills by making the system work harder.
Routinely replacing the filter will help to prevent the air duct from contamination. When clogged, the ducts will require cleaning which is an expense that you don’t need. Even when your tenants pay their utility bills, you should always pay good attention to the matter because high utility bills might cause you to lose the tenants in the long run.
7. Tenant Turnover and Property Maintenance
Tenant turnover needs maintenance costs so as to bring the unit to a rentable state. The property should be thoroughly cleaned and checked. The yard should also be looked over and the home structure should be examined so as to ensure that it’s in a good state before welcoming a new tenant.
8. Examine Shower Caulking and Grout between Tiles
The grout between tiles and the caulk surroundings might loosen with time. When this occurs, it loses the waterproof seal. It will no longer be a waterproof seal and water might leak thus damaging nearby floor or walls. As such, when you spot a hole or a crack, replace the grout and caulking so as to prevent further water damage.
9. Test All Smoke and Carbon Monoxide Detectors Regularly
Survey the devices each month to ensure they’re in working order. The hard-wired and battery-operated devices should also be tested. Make a schedule to examine them when you collect rent each month. These devices are lifesavers.
10. Flush Your Water Heater
Some schools of thought say you should drain the water heaters at least once a year. This will ensure that you eliminate sediment build up from the municipal water supply, which enters your rental property. When too much sediment builds up, it reduces their efficiency, hence calling for a replacement that might just be too expensive. Always be cautious and follow all procedures for draining the water heaters.
Good Centennial property maintenance might increase the short-term costs, but keeping the rental property in optimal condition will preserve its real value in the long run. Furthermore, refurbishing your rental home before renting it makes the property more attractive to potential tenants. This will ultimately lower your vacancy expenses while at the same time motivating future tenants to take good care of the rental property.