It’s an actuality in real estate investing that all rental properties are faced with wear and tear. As a rental property homeowner, wear and tear are presumed to be a part of regular maintenance, from paint that needs to be updated every few years to carpets that need to be replaced. These habitual repair jobs are all part of anticipating an inevitable degree of wear and tear.
Considering that, there are things that you can do to lessen the total amount of wear and tear on your rental homes. These involve using durable materials, maintaining a good working relationship with your tenants, and performing regular property evaluations.
Deciding on quality materials is a major portion in reducing the speed in which certain aspects of a rental home wear out and need to be substituted. Cheaper materials may seem cost effective at first, but cheap materials have a tendency to rapidly wear out, give an impression of being poorly made, and simply won’t stand up to heavy or even moderate wear.
When it comes to paint, carpet, flooring, light fixtures, and appliances, it’s vital to opt for quality materials that are strong enough to take a beating and keep going strong. Since you aren’t obliged to purchase luxury materials, it isn’t necessary to buy the most expensive items that money can purchase. But determining the appropriate materials for the degree of wear you expect can make a large difference in ultimately keeping costs down.
An additional crucial component in lessening wear and tear on your rental houses is by maintaining a good working relationship with your tenant. Renters who know they can trust in and are assured that their landlord can manage urgent repairs are more likely to report repair and maintenance issues earlier, meaning not many costly repairs later on. They will presumably work with you to keep your property in good working order.
Settling on the right renter is important. Even so, forming a relationship of mutual respect is also necessary. This may mean going upwards of simple service calls and keeping in touch with your tenants every now and then. They may start to associate you with problems if they only contact you when something goes wrong and hesitate to proactively reach out for assistance.
· It’s a good idea to not under-appreciate the usefulness of regular property evaluations. They are an essential part not only of property maintenance but of tenant relationships as well. While it’s correct that this can be considered a great investment of your time, you can always obtain the services of Shannon Property Management to work with you as a team to keep your tenants happy and your rental building in good form. Do you want to find out more about our property management services? Please contact us or call us at 713-369-4362 for more information.