Investing in rental property is worth it. It’s a great source of passive income. But it also comes with several responsibilities that you must fulfil as a landlord. These responsibilities are all about maintenance. And some of them are required by law. A rental property needs proper maintenance. This way, small problems regarding the upkeep in the house can be avoided.
With a well-kept property, you’ll easily attract tenants. Also, they are more likely to renew their lease if the property is in excellent shape. Thus, if you want to keep your rental business on the top of the game, you need to ensure it undergoes regular maintenance. Here are some things you need to do:
Check for Water Damage
Plumbing is one of the most common home problems. If left unchecked, problems in plumbing can cause serious water damage. But there are other reasons for this problem too, such as appliances and HVAC units.
Water damage has serious health risks. For example, mould can form on the walls and the floor due to moisture. And some mould can multiply easily when in contact with water. Mould can cause allergic reactions and respiratory infections.
Also, water damage results in structural problems. It can weaken the structure of a home and make it vulnerable to disasters. If water leaks come in contact with wall outlets and other wiring, electrical problems can occur.
Thus, it’s important to have your rental property inspected for water damage regularly. To keep things safe, have the home checked for water damage after a huge storm and after winter has passed. Also, summer is considered a “water damage season” due to humidity. So it’s also important to have your property checked during the summer to catch any issues and address them immediately.
Check All Electrical Wiring
You also need to check on the electrical wiring of your rental property before letting tenants in. If not properly maintained, the wiring in a home can easily turn into a fire hazard. For instance, in June 2020, the fire and rescue services responded to 28,398 primary dwelling fires, with 74% occurring in residential properties.
It’s always best to play on the safe side when dealing with electricity. Check that all the wall outlets are in good shape. If they have cracks, replace them. Also, have the electrical wiring of your rental property checked by an engineer or a contractor and request an electrical installation assessment report for your property. Some tenants request this document. So you need to have one on file as proof that you fulfil your due diligence in maintaining your property.
Check the Alarms
One of your responsibilities as a landlord is to ensure that the smoke alarms and carbon monoxide alarms are working. Smoke alarms can save lives. They’re the best means to prevent or immediately act on a potentially deadly house fire. Carbon monoxide detectors are just as important. They help in detecting a poisonous gas that is odorless and colorless.
Depending on the size of your property, you need to have more than one of each alarm. For example, there must be at least one smoke alarm in each story. Carbon monoxide detectors should be placed wherever there are fuel-burning appliances. Thus, you’ll want to put one in the kitchen if you use a gas stove and another in the living room if there’s a fuel-powered furnace. Check the devices monthly. Replace the batteries as needed.
Have a Regular HVAC Maintenance
The heating, ventilation, and air conditioning units in your property also need to be checked regularly. They can also cause health problems if not cleaned. For example, if a conditioner is left uncleaned for a long time, it can become a breeding ground for bacteria.
You can have your HVAC units serviced every six months or once a year. Replace the air filters to improve the air quality in the property and prevent clogged ducts. Inspect for dust and mould and clean or replace affected parts.
With the COVID-19 still a threat to everyone, you need to disinfect your rental property regularly. This will not only put your tenants at ease. The gesture will also show that you’re a responsible landlord. Wipe down the surfaces, especially the most frequently touched. Mop the floors as well.
The pandemic has affected the home rental business industry quite hard. But things are starting to lighten up. For example, the COVID-19 vaccine rollout is ongoing. With this, the rental business will soon pick up its pace again. And it’s best to prepare your property as early as now through regular maintenance.