A landlord investing in a property to rent will have to make sure the building is up to standard before it can be listed as real estate suitable for tenants. In Texas, this will include licensing, of course, and in many cases, you will need to use a property agent to help collect rent and deal with the administrative side of tenant management.
Of course, as a landlord, you’ll be responsible for maintenance. But it’s much better to ensure that a ship is fit for the sea as opposed to patching up leaks over the years, as the latter comparison can become quite costly over time. This means investing in your property before you let it out is important.
Making sure the wiring and the plumbing are appropriately managed will, of course, be the first step to get right. Essential elements like fire safety are non-negotiable, as are rental-unique measures like lighting that flicks on in the corridors in the event of a power cut. This post will discuss a few pre-rental maintenance approaches for success.
Roofing & Guttering Is Essential
Roofing and guttering are, of course, non-negotiable, but it’s important to consider the extent to which this is so. For instance, the best roofing company will be able to determine the right fixture if you live in an area with high storms or even tornados, or if you encounter a more significant amount of rainfall and snow than average. Landlords should make certain to resolve those fixtures now so they don’t have to keep coming back and attending to issues such as leaks and loose tiles, which can prevent their rental revenue from sustaining, and in some cases may leave them on the hook to provide alternative accommodations for their clients.
Stringent Reporting Systems
A stringent reporting system allows those who live in your building to immediately report an issue and categorize it as a minor issue, a major issue, or an emergency. This can allow you to ensure you spend for rapid response callouts should you need them, be that to fix a bust pipe, or to ensure hot water is restored to the property, as is your legal right to provide. Stringent reporting systems, in this way, can ensure your tenants are happy and that you save money as time goes on.
Separate Apartment Utilities
To the extent your building can support it, it can be wise to separate the different units, be they apartments, condos or other properties within a building, and separate their utilities. Mini-boilers, shorter electrical circuits with small fuse switches, and internet connections for personal routers can make a big difference. It also prevents one issue with one system from affecting all the tenants. This way, if someone trips the power on the second floor, your first and third-floor tenants don’t have to go without power until you resolve it.
With this advice, we hope you can save money by pre-empting your maintenance needs as a landlord. It should make a real difference if you plan well.