A rental property’s exterior appearance is one of the most prominent features of its overall appeal. As an owner, you, therefore, have to make good choices about the outside of your rental property in Wexford as it is just as significant as what goes inside it. Among all the many things in a rental home that need to be repaired and maintained, we’ve listed the top three items that could end up producing costly mistakes. Not informing tenants about flood resources and purchasing flood insurance, spending too much on landscaping, and failing to perform erosion prevention tasks are all costly mistakes that property owners can easily avoid with the right property management plan.
1. Lack of Communication Regarding Flooding
Possibly the worst mistake a property owner can commit is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can transpire wherever in the country, even in dry climates. Storms, broken pipes, and other events can bring about severe home water damage. Helping tenants know what to do in the event of a flood is a vital first step in thwarting such an expensive emergency.
There are excellent resources online and in your local community that ought to be disseminated among all tenants. One more critical thing that property owners can sort out to avoid costly mistakes is to acquire flood insurance. Many landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
Having a striking and aesthetically appealing landscape is an important strategy to attract quality tenants to a rental home. Nevertheless, it’s never wise to overspend on elaborate landscaping and have it result in a negative impact on both a rental home’s value and ability to draw in prospective tenants. Some property owners misguidedly assume that when it comes to landscaping, more is always better. When, in fact, many tenants don’t want to deal with the workload that comes with maintaining an elaborately landscaped yard. In the case of rental homes, simple and attractive is far better than a showcase garden.
3. Failure to Employ Erosion Prevention Tactics
Carrying out routine checks for signs of erosion around a rental property’s exterior for large cracks and gullies in the soil, wet spots that never seem to dry, and dying plants or brown spots can all be signs that erosion is causing damage to a rental property’s yard. The longer the erosion goes unchecked, the more expensive it would be to restore the damage. Through some proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property owner can better avoid expensive repairs and keep their Wexford rental home in good condition year after year.
One of the best protections that property owners have against costly mistakes is knowledge and prevention. When you have a professional property management company working for you, you have a team of industry professionals on their side, making sure that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Three Rivers has the management plan you need to keep your property values high and your rental home profitable. For more information, contact us online or call 724-804-8254 to speak with someone in the office.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
