- The rental housing market has recovered nearly three years after the pandemic started.
- Hiring professionals for major repairs is essential for quality work
- A clean and tidy property makes it appealing to potential tenants
- Regular inspections prevent minor issues from becoming major problems
Rental housing markets rebounded after the situation improved during the pandemic. According to Housing Vacancy Survey data, the third quarter of 2022 saw an astonishing 44 million renter households. The figure is 870,000 higher than at the start of 2020! As demand continues to escalate and vacancy rates decrease, it is clear that renters are back with a vengeance.
For business owners and entrepreneurs, rental properties can be a great way to increase revenue. But it’s important to remember that rental property maintenance is key to the success of this venture. Properly maintaining rental properties will help you protect your investment, increase the value of your property, and attract more tenants. Here are some tips to ensure proper maintenance of a rental property.
Hire Professionals for Major Repairs
One of the most important rules for maintaining a rental property is hiring professional contractors for major repairs. Major repairs may include electrical work, plumbing, roofing, or any other repair requiring specialized expertise.
Hiring professionals will guarantee quality work and save you time and money in the long run. Furthermore, it’s essential to get multiple estimates from different contractors before making your decision to ensure you’re getting the best deal possible.
Here are some areas to focus on to perform repairs and maintenance on the property:
Roof Cleaning and Repair
Cleaning and fixing the roof is essential to maintaining a rental property. This can include cleaning the gutters, checking for any missing shingles, and patching up any leaks or damage. Hiring professionals to clean and fix the roof can help ensure that no further damage is caused and the roof is properly protected.
Lawn Care and Landscaping
Taking care of the lawn and landscaping of the property is also essential. It adds aesthetic appeal to the property and prevents drainage issues. You can also reduce pests on the property through landscaping. Professional lawn care services often include trimming hedges and bushes, mowing, weeding, mulching, and more. You can also hire a reliable garden maintenance service to enhance the garden. Improving the garden makes it appealing to potential tenants looking for a place to rent.
HVAC Inspection and Servicing
Inspecting and servicing the HVAC unit of the property should be done regularly. This includes checking for any air leaks, replacing filters, and replacing worn-out or broken parts. HVAC repairs can be expensive, so it’s essential to get them checked and serviced regularly to avoid major issues in the future.
Plumbing Installation and Repair
Plumbing is also an important area to maintain in rental properties. This includes checking for leaks, clogs, and damage that may have occurred over time. It’s crucial to hire a professional plumber who can detect and repair any issues properly.
Electrical System Maintenance and Repair
The electrical system should be checked regularly for any damages or malfunctions. This includes checking for frayed wires, tripped breakers, and faulty outlets. It’s important to ensure all the wiring is up to code and functioning properly to prevent fire hazards.
Keep Your Property Clean and Tidy
In addition to major repairs, it’s also essential to make sure that your rental property is kept clean and tidy at all times. This means keeping up with regular cleaning tasks such as vacuuming carpets, mopping floors, cleaning windows and bathrooms, and dusting furniture and fixtures.
Additionally, you should check for pests regularly, and any damage caused by weather or wear and tear over time. Keeping up with these tasks will ensure your tenants feel comfortable living in their rental unit and help maintain its value over time.
A clean property also gives potential tenants a good impression and can help attract more qualified renters. Being proactive with regular maintenance will also help you avoid major repairs in the future, saving you money and time in the long run.
Perform Regular Inspections
Finally, one of the best ways to ensure proper rental property maintenance is to perform regular inspections. These inspections should regularly be conducted inside and outside the unit to identify any potential problems. The potential issues you should look out for include water damage or pest infestations.
It’s also important to document these inspections so that you have records should anything go wrong later down the road. This way, you can prove that the unit was properly maintained and in good condition before a dispute emerges. Taking pictures of the interior and exterior of the unit before each tenant moves in is also an excellent practice. This allows you to compare conditions should any problems arise between inspections.
When it comes to owning a rental property, proper maintenance is key if you want to protect your investment and attract new tenants each year. Some easy steps you can take to ensure your rental property remains well-maintained include hiring professionals for major repairs, keeping it clean and tidy, and performing regular inspections inside and outside of the unit itself. Following these tips will help keep your investment safe while increasing its value over time.