Real estate can be a very profitable venture and you can earn an income and enable yourself to accumulate great wealth. Owning rental houses is one of the most profitable investments because the city’s population is increasing and demand for rental housing is on the rise.
However, those owning real estate properties in Denver must make sure they are in good condition so that they can remain attractive to potential tenants and continue gaining value. This means that Denver real estate investment owners have the responsibility of inspecting their properties regularly and make repairs and renovations when necessary.
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Here are the basic property maintenance tips that property owners in the city can use to make sure their investments are always in good condition, remain attractive to renters and keep on appreciating.
1. Get Rid of Unwanted Plants and Weeds near the Properties
Although small weeds and plants growing near to your properties may seem harmless, they can cause huge damage to your properties if you do not curb them on time. Some weeds and plants can cause cracks in the floor and walls while others host harmful pests and rodents. It is important to get rid of unwanted weeds and plants growing near your property. Flowers and other trees in the compound should be trimmed to the required size and make sure they do not cause any damage to your property.
2. Replace Broken Electrical Units and Air Conditioners in Your Rental Properties
Broken electrical units and air conditioners can be very dangerous if they are left unfixed, especially when you have tenants in your rental property. It is very important to check and replace broken electrical units and air conditioners before they cause huge damage to your property.
Remember that a broken electrical unit can harm your tenants or even cause a fire that could burn your property down. Remember that most of the time your insurance cannot compensate you if faulty electrical units in your property cause a fire resulting in huge losses.
3. Check and Get Rid of Pests and Rodents
It is important to check and get rid of pests and rodents in your property regularly before they cause huge damage to your property. Remember that pests can be common in rental properties that are not properly maintained. You can also spray your properties regularly even when there are no signs of pest and rodents as a preventive measure. Pest and rodents not only damage your properties, but they can also discourage tenants from renting them.
4. Check Water Damages and Leaks Regularly
Water leakages can cause huge damages to the property that could cost you a lot of money in repairs. It is important to check leaking pipes, sinks and roofing in your properties and repair them on time before the damage extends. Leakages in your rental property can also cause damage to tenants’ belongings and result in unnecessary disputes. Sometimes tenants may sue you if damages are severe and demand compensation.
5. Test Carbon Dioxide/Smoke Detectors Regularly
Fire can damage your investment and bring you back to square one. However, you can avoid any fire-related accidents in your properties by testing carbon dioxide and smoke detectors in your properties regularly to make sure they are in good condition and functional.
6. Do Not Take Too Long To Flush Your Water Heater in Your Properties
It is important to flush the water heaters in your properties and make sure they are always in good condition and functional. A blocked water heater can cause pipes to burst, causing huge damage to your property and endangering your tenants. You need to flush the water heater on a periodical basis even if it may seem fine. Remember that flushing the water heater regularly is much cheaper than repairing or replacing the entire water heating system on your property.
7. Always Check Your Properties before Tenancies Begins
It is very important to inspect your rental property when a tenant vacates your property and before taking in a new tenant. This will help you to hold tenants who might have caused damage to your property accountable before refunding their rental deposits.
It is also very important to make sure your property is in good condition before letting a new tenant enter. Remember that allowing tenants to occupy your properties before inspecting them could make it difficult to inspect them when tenants are already moved in. If there is damage, it’ll be hard to know which tenant caused it.
8. Educate Tenants on How to Avoid Careless Damages
Taking time to educate your new tenants on how to avoid careless damages in your properties may sound obvious, but it can save you from expensive repairs. It is wrong to assume that every tenant that occupies your property is a responsible one or knows how to use different appliances in the property.
It is important to spare some time to educate your tenants about different appliances in your property and educate them on how to avoid careless damages. You never know, it might be the first time for some of them to rent a house of their own and they might need some orientation.
9. Repaint Your Property Regularly
Many landlords think that it is an unnecessary expense to repaint their properties regularly. However, what many do not know is that repainting rental properties regularly can make them more appealing to potential tenants and make them more competitive in the market.
Repainting your properties can prevent further damages in your properties such as rusting of metallic parts and you can stay for a long time without having to do major repairs that could cost you a lot of money. Repainting your properties also improves the outward appearance of your property and adds value to it. Remember that many tenants are attracted to properties with a good outward appearance and you can improve how tenants see your rental property by repainting them regularly.
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