Make More Money by Maintaining Your Rental Property
Every landlord knows the importance of rental property maintenance. You can save a lot of time and money in the long run by undertaking regular property maintenance and regularly checking for potential hazards or damage.
Here are some rental property maintenance tips that can help you save money further down the track.
1. Replace the filters in your forced air systems.
Experts recommend replacing your air conditioning filters at least two times per year. To determine the highest efficiency filter for your system, consult your heating or cooling system’s, manufacturer.
Dirt can affect the normal functioning of your system in a variety of ways. One effect of it is it overworks your entire system. A dirty filter pushes merely your HVAC system to work harder than necessary.
Another effect of it is it can affect the quality of the air indoors. A dirty filter won’t be able to effectively filter the allergens and contaminants out of your indoor air. Aside from this, dirt can clog your blower. This will also impede airflow as well as affect the performance of your unit. Lastly, a dirty air filter can restrict or hinder proper airflow.
Regularly changing the filters in your forced air systems can help you save money in two ways. First, you’ll be able to keep your utility bills regular. Second, you’ll be able to keep ducts unclogged. Clogged ducts typically require to be professionally cleaned, and that’s an unnecessary expense you wouldn’t wish to have.
Regardless of who is paying the utility bills, routine maintenance of your forced air systems is crucial.
2. Test all smoke and carbon monoxide detectors regularly.
These devices save lives. You could potentially face legal action if these devices aren’t in working order and there is a fire or carbon monoxide leak in your rental property. Check them regularly to ensure they are functional. Ideally, inspect them every month.
Smoke alarms have an average lifespan of about ten years, hence, replace your smoke alarm units as necessary. Carbon monoxide detectors have a useful lifespan of about five years. Both hard-wired and battery-operated devices should be tested.
3. Examine grout between tiles and shower caulking.
Over time, the caulk surrounding the tub can loosen, and the grout between tiles can crack. When this happens, the floor below or the surrounding walls can get damaged by the leaking water.
By maintaining bathroom fixtures, you’ll be able to prevent mildew, mold and water damage.
4. Check for water damage and leaks.
Checking for water damage can be time-consuming, but it’s a necessary step to protect your assets.
Check under sinks, boilers, and water heaters. Look for signs of water around windows, toilets, and showers. Check for soft spots on walls, ceilings, and roofing. Ongoing leaks can also damage the possessions of your tenants.
If the water is left unattended, mold can also form. Exposure to moldy environments may cause a variety of health issues. For example, skin irritation, cough and wheezing, eye irritation, nasal stuffiness and more.
If this will be left unattended and if it grows beyond ten square feet, the problem would need to be fixed according to the guidelines of the EPA. That’s going to be a huge expense!
5. Conduct monthly or bi-monthly extermination.
Do this regardless of whether you have an existing rodent or insect problem or not. When exterminating, make sure it covers the whole apartment. Even if you can buy exterminating supplies yourself, extermination or pest control is best left to an expert.
Pest problems can be chronic unless recognized and corrected. If not repaired on time, pest problems can leave your rental properties unsuitable for occupants.
6. Drain your water heaters.
Flushing your water heaters every once or twice a year can help improve efficiency. Over time, the municipal water that is supplying your property may cause sediment to form in the water heater.
If too much sedimentation occurs, it can make your water heater’s drain valve clog and consequently reduce efficiency.
Replacing a water heater is expensive. As such, be cautious and follow specific procedures when flushing water from your water heater. As a better option, have a professional do it instead.
7. Take a proactive approach in protecting your property against fire damage.
As a landlord, you have specific responsibilities to ensure the safety of your tenants. Taking appropriate safety measures could save boatloads of cash besides saving lives. To ensure the safety of your tenants, here’s a checklist of everything you and your tenant should do:
- Keep a fire extinguisher or a fire blanket in the kitchen. Remember, water can enhance oil or fat-based fires instead of extinguishing them.
- Keep oven mitts, tea towels, hand towels and other flammable items away from the cooking area.
- Replace or repair roof tiles to prevent embers penetrating the home.
- Have at least one garden hose that extends to the perimeter of your property.
- If you have a woodpile, make sure you store it at a safe distance from the property.
Maintaining your rental properties is essential for the long-term success of your business. You will not only keep your investment property in tiptop shape but will also make more money in the long-term.
Young Management Corporation in Kansas City