As a property investment owner, its important that you are keeping an eye on your rentals. After all, you purchased these to eventually retire on right? Many owners spend very little time checking on or having someone routinely check their properties for upkeep and preventative maintenance. Over time, a neglected home can cost you thousands in repairs. Here are 3 things owners should always have on their list.
Check your foundations. The dirt around your house is usually made up of sand, clay, or a sandy loam. Depending on what combination you have, these materials will expand and contract with temperature and dryness conditions. When the soils expand and contract so does your foundation. The number one neglect a tenant can do to your home is let the vegetation or grass along the side your house die. Vegetation works like an insulation barrier keeping the soils constant. Once a foundation has shifted, its permanent and typical repairs start at $5000 and go to $30,000. Check your vegetation perimeter and install soaker hoses if necessary.
Water Leaks. Tenants rarely report small leaks around kitchens, baths or outside. Leaks under cabinets in a very short amount of time will destroy your vanities, kitchen cabinets and anything in immediate vicinity. Tub or shower leaks, destroy tile and backer boards, rust out tubs or pans from the inside out. Unreported leaks also cause mold and can lead to illness if not taken care of immediately. Kitchen and Baths are the most expensive items to remodel and repair in any home. Routinely inspecting your property and educating your tenants to report leaks is a must.
Vegetation or tree limbs touching your house or roof need to be cut back.
Overgrown limbs (even very small ones) touching your roof or side of house can cause thousands in damages. Limbs move in the wind and like a grinder they wear holes in your shingles, soffit, facia and gables. Eventually you’ll have leaks in roof, protective paint coatings removed from walls, and holes varmints can enter. Limbs touching your home is also the number one bridge or gateway for pest and or insects to enter you property. Roof replacements average $4000-$6000 and pest control cost $75-150 per treatments. Check your property and have your tenants report limbs or overgrown vegetations touching the house. Spending a $30-60 to clean up will save you thousands in damages.
These are just 3 simple steps you can do to keep you property safe, sound and protect your investment. If you would like to learn more about how to keep your investment working for you, call Westrom Home and Service to see how we can help you.