5 Tips to Maintain Your Real Estate Investment Rental
While there are several guides specifying the details of investing in real estate and how you can go about it, there are not as many guides on how to maintain a property after, especially if you plan on renting it out in the future. Maintenance of the rental property is extremely important, as it will determine the type of returns and tenants you receive. The better the condition of a property, the better your position will be to market it for a higher price to potential tenants. Here are some tips to maintain your real estate rental investment.
You can begin the maintenance process by properly inspecting both the exterior and interior of your property. This will help you prevent sudden costs related to significant damages caused by negligence. For the exterior, inspect your roof for any mold or moss or missing shingles, the sealing of your windows, exterior painting, and landscape for any broken trees or branches. For the interior, you can check your water heater, smoke detectors, heating, and cooling systems, and paint. You should get any damages or inefficiencies such as with the heating and cooling repaired by professionals like 888 Heating.
Regular extermination should be at the top of your maintenance list. You should ideally exterminate every month or at least every other month even if there are no signs of rodents on the property. Prevention is better in this case. You can do the extermination yourself but it is recommended you hire a professional for a thorough job.
Caulking and grout between tiles
Caulking and grout between tiles are often ignored, but it is an important element to be aware of, as they can crack over time and you will no longer have a waterproof seal. This can lead to water leaks and also damage the surrounding walls and floor. It’s best if you replace the caulking or grout as soon as you notice any cracks or holes.
Gutters need to be cleaned regularly. Gutters can easily get clogged with leaves and other debris which can cause leaks around your property. You can also get gutter guards for your property that sit on top of the gutters and only let the water pass through via its small holes, preventing the accumulation of debris.
Hire a property manager
Maintaining a property can be a tedious time-consuming job, especially if you work full time. Regular checkups are a must even when there’s no one staying at the property. If you feel like it’s too much work, you can hire a property manager to take care of it all. A property manager can not only overlook the maintenance of your property but can also completely take over the work of finding the right tenants for you and the monthly rent collection.
Real estate investment includes many ongoing costs and you should be aware of them before you make the big decision. The tips provided are just a few from a long list of things that can make your rental property attractive to the tenants and also keep the existing tenants happy.