To increase your portfolios value, you need to keep your rental properties from running down. You’ve bought a couple of rental properties, you’ve fixed them up, and you’re ready to start seeking tenants. However, you want to ensure that you can keep your properties looking good. Where do you start? Here are three key things you can do in order to maintain your rental properties.
Keep Your Rental Properties From Becoming Run Down: Perform Annual Inspections
When it comes to keeping your rental properties in good shape, it’s essential to perform annual inspections in order to determine if anything needs repair or replacement. Because you are not constantly at the property, you may not be aware of all the needed repairs. This makes it essential to be thorough.
When you perform your inspections, there are a few things that shouldn’t be forgotten. Make sure to look at all the appliances including the washer and dryer—dryers can become fire hazards if they malfunction. Also, be aware of light fixtures and door hardware.
Thinking about potential problems before they become an issue is another important way to ensure your rental properties stay looking good. Among many preventative measures to consider, you should be sure to make a pest control plan,
One way to prevent future pest problems is to install an in-wall pest control system. Installing an in-wall system of tubes can save you the trouble of dealing with an infestation later. These tubes are built into the walls of the home and emit certain chemicals in areas of your home that are particularly susceptible to pests.
Keep Your Rental Properties From Becoming Run Down: Select Your Renters Carefully
Of all preventative measures to take when thinking about maintaining your property, your choice of renters is perhaps the most important. Even if you perform routine maintenance and take important preventative measures, your renters can make or break it. In a short amount of time, renters who do not take ownership of your property can do a significant amount of damage.
On the other hand, renters who take care of the property, treat it as their own home. Generally, good tenants will give you peace of mind and will be a major support in maintaining your rental.
When you have multiple rental properties to maintain, it can sometimes be difficult to know what to prioritize. Making annual inspections and preventing potential future issues can go a long way in protecting your property. But be sure to pay special attention when vetting your tenants—they can make a big difference in your rental property’s maintenance.
To find your next rental property, check out our listings!
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.