One of the most challenging tasks when owning investment property is keeping your properties well maintained. To do this, you need to consider every aspect of the property and make sure that it keeps functioning as it did when it was brand new.
This will allow your house’s value to be on an increment and when you need to sell, you get a return on investment nothing. Your property’s main areas that require constant maintenance are electronics, drainage, wall paint, and flooring.
Taking good care of these areas of your house will ensure the value never decreases and that you don’t lose money in the investment process. Like the care and attention to detail you embrace when trying to find suitable tenants, you will also have to keep your investment properties well maintained.
How to Keep Your Investment Properties Well Maintained
Electronics
Electronics are always the first component of a property that poses issues for tenants. These electronics include your garage motors, light switches, lightbulbs, and any other electrically powered fixed fittings. It must be said that an annual electrical maintenance check-up by a local electrician can quickly resolve this.
Plumbing
The worst problem you may experience is plumbing. This is merely due to the purpose that plumbing fulfills. Plumbing ensures that the household remains odor-free as well as a hygienic environment for living.
When plumbing starts causing problems, a specialist should immediately be called in. To avoid getting regular emergency plumbing services, consider getting sewer drain cleaning done once per year. It will ensure your drains remain clean and that no blockages occur due to dirty plumbing systems.
Aesthetics
The finishings on your property are bound to be affected by ordinary wear and tear over time. It means that your tiles will crack, your wall paint will fade, and your roof may start leaking. These things are all normal and should be dealt with right away.
Your house needs to be painted every 5 – 7 years to avoid the paint fading. The roof should be checked immediately when it starts leaking, and flooring must be replaced when it’s damaged beyond repair. These sound like expensive renovations, but they’re not, as long as you deal with them immediately.
Keep Your Investment Properties Well Maintained
Regardless of what maintenance your property needs, there’s no reward in avoiding it. It will have to be done at some point, but it doesn’t need to be at great expense. There are many surprisingly inexpensive but still high quality and aesthetically pleasing means of keeping your properties well maintained.
Don’t ignore the issues and upset your tenants or let the issues get worse. If you decide to sell and have many issues, you could lose money, too. Start now and ensure that the tenants occupying your property remain happy with the living circumstances your property offers.
Do you have investment properties? If so, how to you work to keep your investment properties well maintained? Would you add anything to the list? Let me know in the comments!
Loved your blog on maintaining home value. We’ve built and sold and built and sold and we’ve never lost money on real estate. We’re thinking about buying the house next door to us and renting it out. Certainly can’t make any interest on your money in a CD or IRA right now.
I’m glad you liked it!! I think buying the house next door is a great idea. Thanks for reading and commenting!