As with all things, your rental property has a lifespan. Your property won’t be new forever, after a certain point the paint will crack, the doors will wear and pipes will rust. This will affect your return on investment and make your rental less desirable. However, if looked after properly, your rental could last for centuries.
Of course wear and tear is natural and we cannot eliminate it completely. But, there are ways in which we can reduce it. There are several solutions that will lessen this unfortunate process and help protect your investment.
Here are our suggestions on how you can reduce the wear and tear on your rental property:
1. A deep clean at turnover
When a tenancy is up and you are preparing for a new tenant to move in, it is crucial that you do a thorough deep clean of the property. This will not only stand you in good stead with your new tenants, but will also allow you to find the things that need a little bit more attention than just a regular clean. Keeping the interior clean and looked after will extend its lifespan and therefore contribute to the extended lifespan of your property.
2. Keep an eye on the plumbing
It is always important to keep an eye on the state of the property’s plumbing. If you fail to notice the smaller issues, you may end up with leaks, water damaged floors, and other damage to both yours and your tenants’ belongings. This is why it is crucial to do regular inspections and replace any aged pipes as soon as you see an issue arising.
3. Use durable materials
When designing your property, think very carefully about the materials and fabrics you purchase. Easy-to-clean and hardy materials will last much longer and therefore reduce wear and tear over time. Think water-resistant! It would be a good idea to add splash guards and gloss paint to reduce moisture damage. …
4. Conduct regular property inspections
To keep up-to-date on the needs of the property on a maintenance level, you should arrange regular inspections. By visiting the home regularly (bi-annually), will help you keep track of any minor issues that arise. This will allow you to tend to those minor issues before they become big damages.
5.Hire a property manager
A professional property management company will ensure that your property is well looked after and regularly maintained. This will not only reduce the wear and tear of the property by finding the issues before they become too big. You will also be ensured a shorter vacancy period between tenancies as there won’t be too much upkeep and maintenance needed to be done in the interim as it would have already been taken care of.
Here at London shared we can take care of upkeep and maintenance, as well as communicating with your tenants so that you don’t have to. Let us help you reduce the wear and tear of your property so that you can get a better return on your investment. For more information please visit our website.