How To Maintain Your Rental Property

Maintaining a rental property is a huge task, but we offer some helpful tips.

20/11/2019

Getting a steady stream of income from renters isn't quite as easy as some people might think. Maintaining a rental property is a huge task, While it is a hard task, it is important to keep the property in working order and more before, during, and after a tenant's stay. There are a few areas that you should maintain and that should be high on your list if you want the homes to be in good order for tenants to move into. Keeping that in mind, read on below for a rundown on those areas of concern.

Always have income-protection insurance

While this has less to do with maintaining your property and more to do with protecting yourself and your family, it's important to mention. You should make sure that you compare income protection insurance policies with iSelect and have that insurance on hand at all times. This type of insurance will cover your income if the worst happens and you can't manage your properties or do the work on them to keep them updated and in rentable shape. This site will help you determine which policy insurance is best for you and your possible income needs.

Keep on top of pest control

Prospective tenants might not notice right away if your rental property has a pest problem, but once they are settled in, the pests will start to come out of the woodwork. Not only is this going to upset your tenants, but pests can greatly damage your property, costing you thousands of dollars to have that damage repaired. Instead of waiting for tenants to start complaining, use a reputable pest control company to ensure your properties are always pest-free and move-in ready.

It's just as important to keep on top of things when the property is sitting empty, as well. This is the perfect time for animals such as squirrels, rats, and other rodents to nest in the property, doing undue amounts of damage. If one of these animals dies inside the property, the stench could linger forever. Instead of letting that happen to you, contact a reputable company to take care of your dead animal removal for you. While it may be tempting to remove the dead carcass yourself, it's important to note that you could get sick if you don't handle and dispose of the dead animal in the proper manner. It's best to leave the removal to the professionals instead.

HVAC units should be functioning properly

Keeping your HVAC units running properly isn't as hard as it might seem, and can cost you a pretty penny if you have to have a repairman come out in the dead of winter. It's best to have your HVAC units inspected, cleaned, and serviced on a regular basis, whether you have tenants in the property or not. There are quite a few things you can do yourself, such as changing out air filters and making sure nothing is blocking the unit outside, but some things require a reputable HVAC company. If you hope to charge well for your units, then you need to ensure the properties are good to go when someone moves in.

Keep it looking right

From painting on the inside and outside to replacing broken fixtures and patching holes in the walls, it's the little cosmetic things that if ignored can end up costing you a fortune in the long run. Not only will you have to pay more to fix them if you let them go, but you're going to have to charge less rent if these things are noticeable.

These are just a few of the top ways you can maintain your rental property so that you have an income for many years to come. Don't forget to have the proper insurance though, in case something happens, because you never know what could later on down the line.

 

 

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