If you have an investment property, consider it a worthy endeavor that can provide you with a steady source of income. But to maximize your profits from your property, it’s important to ensure it’s in tip-top shape. Taking the necessary actions to keep your investment property in good condition can significantly prolong its life span and enable you to avoid expensive repairs.
Depending on the property you own and the continuous daily wear and tear it endures, make it a priority to keep it in good shape by implementing a routine maintenance plan. If you’re eager to learn ways to clean and maintain your investment property, finding a top provider in your area would greatly help.
Making sure your investment property will last for years involves every bit of effort on your part. Here are tips you can follow to keep your investment property in good condition for years to come.
- Perform routine maintenance
Maintenance issues are likely to occur now and then. However, you can deal with concerns before they become severe problems by following a maintenance schedule. Regular inspection can be set either weekly, monthly, or yearly.
Regular maintenance is not only about avoiding expensive repairs, but also ensuring a pleasant environment for your tenants. Here are some of the tasks to include during your routine maintenance:
- Inspect for leaks, especially after heavy rainstorms or snowmelt, or any signs of water damage.
- Regularly replace the air filters.
- Check the gutters for damage and clean them thoroughly.
- Flush the water heater.
- Inspect and test the smoke and carbon monoxide detectors.
- Check for the presence of pests, ideally quarterly or every month.
- Tighten knobs, handles, faucets, locks, etc.
- Reapply caulk on bathtubs and showers to prevent leaks and mold formation.
- Check the fire extinguishers.
- Cut or remove trees or shrubs that might damage your property or nearby power lines.
Additionally, don’t forget to tackle maintenance for big projects, such as repainting the walls or replacing carpets. Remember, your maintenance schedule would depend on the general wear and tear on your investment property.
- Conduct HVAC system maintenance
The heating, ventilation and air conditioning (HVAC) system in your property plays a crucial role in maintaining acceptable indoor temperatures. And since the HVAC system works continuously throughout the year to provide your tenants with a comfortable environment, it requires proper care and routine maintenance.
Yearly inspection and servicing by a professional normally include the cleaning and maintenance of worn-out components. This service would go a long way in helping your tenants save money on utility costs, avoid emergency repairs, and improve their indoor air quality.
- Inspect the water heater
Calling in a professional to tackle the maintenance of the water heater is also crucial to make sure your property stays in good shape. Some of the routine tasks a professional would perform are the following:
- Adjusting the thermostat to around 120 degrees to prevent scalding and to help tenants save on utility costs.
- Testing the temperature-pressure relief valve every year.
- Draining the water tank to eliminate the buildup of sediments and debris.
- Inspecting the anode rod and providing insulation to the heater.
- Hire a landscaper
If you want to maintain your investment property’s front and backyard landscaping, it’s best to hire a professional landscaper. Remember, no one wants a view of overgrown trees, shrubs, and weeds. Some of the benefits of a tidy yard include the following:
- Provides a space that’s visually appealing for your tenants, neighbors, and future tenants.
- Boosts the overall value of your property.
- Creates an inviting space your tenants can enjoy throughout the year.
- Prevents potential pest infestations.
- Consult a pest control service
As a significant investment, it’s crucial to keep pests away from your property. When dealing with pests, being ready is the key. If you want to avoid any form of damage from a pest or rodent infestation on your investment property, it’s best to hire an exterminator to inspect your property regularly. When a pest or rodent infestation occurs, it might result in a higher turnover and vacancy rates since the damage termites, in particular, may cause could be significant.
Your tenants might not be able to handle pest control effectively on their own. If you’re going to assist, it means you’re providing your tenants additional customer service, along with the assurance your investment is free of pests.
Keeping your rental property in tip-top shape is crucial if you want to make the most out of the profits you’d gain from it. Depending on the type of investment property you have, ensuring it stays in good condition for your tenants is vital for better retention. These useful tips hopefully serve as your guide to keep your property in good shape for many years forward.