Keeping your rental properties in good condition can go a long way toward maximizing your profits. These steps are also vital in retaining tenants long term, which prevents vacancies from becoming an issue. Here are some of the best tips for keeping your rental properties in great shape over time.
1. Obtain Regular Inspections
It is important to obtain regular inspections for your rental property. Not only will this help you to find potential problems before they escalate, but it will also provide documented proof regarding the condition of the house before and after tenants have resided there.
2. New Paint Job
Painting is one of the most cost-effective ways to significantly improve the appearance and value of a building. Lean more towards using neutral colors that will be appealing to a wider pool of people.
3. Maintain HVAC
The HVAC system provides many functions for a building. It keeps it comfortable and impacts the quality of the air. Regular maintenance will help the HVAC system to operate more efficiently, which will improve the comfort within the building, as well as lower energy expenses.
4. Clear Gutters of Debris
Gutters that become clogged can lead to significant problems, particularly when they cause flooding or damage to the foundation of the building. Ensure that you regularly clear this debris from the gutters of your rental properties to keep them in good shape.
5. Power Wash Exterior
Power washing is a crucial step for a building. Not only will it improve the appearance and allow it to look better, but it will also aid in finding potential issues with the structure.
6. Clean Dryer Vents
Clogged up dryer vents can cause the dryer to operate inefficiently and can even lead to fires within the building. Have dryer vents cleaned regularly to prevent significant issues from occurring in your rental property.
7. Landscaping
First impressions are important. Investing in the landscaping of your rental property can ensure that you consistently make a good first impression. Low-maintenance landscaping is also incredibly appealing to tenants.
8. Replace the Flooring
Carpeting is a poor choice for the flooring within a rental property. It can gather stains and look shabby over time. Implementing wood flooring can significantly raise the value of the property and ensure that it remains in the best possible shape.
9. Update Faucets
New faucets can significantly improve the appearance in the bathroom and kitchen, which can help keep tenants happier.
10. Invest in the Kitchen
If you intend to invest money on your rental property, start with the kitchen. This area tends to have the highest return on investment, as well as significantly appeals to potential tenants.
Keeping your rental properties in great shape is an excellent way to optimize your profits. To learn more about how to improve the condition of your rental properties, contact our experts at the Keyrenter in Provo today!