There are many valuable reasons to have an investment property, not only can you be generating income through rental payments, but you are investing your money into one of the most secure markets in the world. And when something is that important, you need to take care of it.
Keeping your investment property in good shape will continue to benefit you as time progresses, as you can save yourself from an overhaul of renovations in the long run. If you have tenants, maintaining the condition of your investment property is a non-negotiable. Therefore, we have compiled a list of the top maintenance tips for you to follow to keep your investment property in the best shape possible.
Stay on Top of Common Repairs
We understand that urgent and unexpected repairs will arise throughout time, but you can still stay on top of smaller maintenance issues, especially if you are renting the property out. Regular maintenance includes:
- Fix broken light bulbs that are unsafe or too hard for tenants to change
- Repair damaged kitchen or bathroom appliances that are impacting the daily activities of tenants
- Replace or fix broken air conditioning or heating units
- Take care of overgrown plants such as trees near power lines, or exposed roots
- Fix broken windows, door locks and other security measures that ensure the safety of tenants
- Clean drains and gutters, and ensure that leakages or issues with mould and debris are addressed promptly
- Ensure that your property is pest free before new tenants move in
A Well-Respected Property Equals Respectable Tenants
The way you present your investment property and the attention and care you give the place usually reflects in the type of tenants you attract. If your investment house or apartment is not well-maintained, is unclean and is shown no respect, then tenants will treat it the same way. This can lead to a whole host of problems for you.
Avoid attracting the wrong tenants by offering a safe and respectable investment property and you will typically be matched with people who share your values. A good rule of thumb for keeping an investment property maintained is; if you would not want to live there in its current state, then no one else should have to either.
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