There are many challenges to being a landlord, and one of the most significant ones is keeping your rental properties in tip-top shape. Aside from the fact that it is your obligation as a landlord, keeping your property well-maintained is the best way to protect your investment.
Moreover, it helps you avoid costly repairs and makes your property last longer. According to some residential property management companies, here are the best ways to keep your rental properties in good shape:
1. Choose the right tenants
Your tenants play a major role in the upkeep of your property since they will be the ones staying in it for a long time. Hence, keeping your property in good shape has a lot to do with picking the right tenants who are less likely to cause damage. Although some accidents may happen, you can probably tell if a potential tenant has a tendency to cause damage to your property.
2. Inspect the property regularly
Make it a point to inspect your property periodically to spot any signs of damage or impending breakage that need repair. Check for leaks, loose hinges, excessive moisture, and rusty pipes, for example. When left ignored, these small problems can spiral into bigger ones that may lead to a hefty repair bill.
3. Maintain the HVAC system
The HVAC system is one of the most expensive parts of the house to repair and replace. Thus, maintaining your rental property’s HVAC system should be a priority. Have the HVAC system inspected and tuned up by a service professional at least once a year. If the tenant complains about temperature fluctuations or back-drafting, call in an HVAC repair service right away.
4. Invest in landscaping
For your unoccupied rental properties, you can better attract potential tenants by making the exterior look nice. One of the best ways to do this is through proper landscaping. Hire someone to mow the lawn, weed the garden, trim the hedges, and generally make the lawn look attractive. If you have the time, you can save money by landscaping the property yourself.
5. Give maintenance advice to your tenants
Although there is no guarantee that they will follow, giving maintenance advice to your tenants is a great proactive move. For instance, you can avoid mold growth in your property by educating tenants on how to prevent excessive moisture in the house. Point out that their initiative to maintain the property will help them avoid repair bills and a repairman coming over to fix whatever’s broken.
6. Renovate
Continue to invest in your rental property to attract more and better tenants. Renovate and update your units to keep up with the current design trends. With higher value properties, you can attract better tenants who are willing to keep your property occupied for a longer time.
There are many benefits to keeping your property in the best shape possible. For one, it keeps you compliant with rental property laws. But more importantly, having well-maintained properties helps you save money, attract better tenants, and protect your investment at the same time.
