Top 5 Tips for Your Rental Property Maintenance
Regular maintenance of your rental property is an integral part of being a responsible landlord. You either hire a contractor to tackle the tasks or do some by yourself. As an owner, you need to make sure that the property is up to date so that tenants can live comfortably.
Being a landlord has its own rewards but you have to worry about receiving rent on time. To solve this problem, you can consider a rent guarantee scheme to manage your property and ensure rent every month.
Here are some effective tips to help you manage your rental property more efficiently.
Know Your Responsibilities
Make sure that you outline the responsibilities that you and the tenant have after they move in. Normally tenants should take care of tasks like taking out the trash, changing light bulbs, and other minor things.
As for landlords, you need to take care of major maintenance tasks like electrical, plumbing, and heating systems. You need to prepare the property for new tenants and take care of any wear and tear. Also, be open to communication with your tenants and see if they want anything from you.
Avoid Disputes by Documenting the Property Condition
Before you welcome new tenants into the rental property, make sure to document the condition of the place. Take pictures and make videos of the whole house. This way, you will have evidence of what was already broken and what was not. It will avoid disputes with the tenants in case of any issue of property damage.
You should keep in mind that some normal wear and tear is part of renting an apartment. Avoid holding your tenant accountable for the damages unless something has been seriously damaged. Minor issues are scratches on the floor or a broken drawer.
If there are changes like missing furniture pieces or broken windows, you can deduct the amount from the tenant’s security deposit.
Keep Landscaping Low-Maintenance
Unless the tenants are willing to do the landscaping themselves, avoid making major changes that would require extra care on your part. It is better to keep landscaping low maintenance so that it stays in good condition throughout the year.
This way, you and your tenants won’t have to worry about taking extra care of it. You can also use the outdoor space to place furniture and make it a functional space to improve the value of your rental property.
Keep the Documents Safe
Just like other businesses, owning a rental property is the same. You need to handle it professionally and keep all the legal documents safe.
For the repairs, keep all the receipts and write down the time that was spent on the repairs. Some projects fall into the category of business and can be tax-deductible.
Keep the rental contract safe which has details of the tenant and how much rent they are supposed to pay. The best way to ensure guaranteed rent is to hire a property agent so you don’t have to stress about receiving rent every month.
Renew the Property Before the Move-in
When the property is empty, take your time and think about what changes you can make to make it more welcoming and functional. All new tenants deserve to live in a space that is deeply cleaned and freshly painted. Offer them a property that is ready to move-in the very next day they sign the contract.
Make sure to have the whole space sanitized and remove any carpets that are too old. Don’t forget to change the locks that the previous tenant used to avoid security issues.
Even when the tenants move in, ask them what improvements and changes they would like to see in the home. Try to implement some changes along the way.
