Consideration must be given to the exterior just as much as the interior when renting out a property. Inadequate erosion prevention, wasting money on landscaping, and forgetting to tell tenants about flood resources are three issues that should be avoided. A great property management plan can help you avoid these mistakes.
Lack of Communication Regarding Flooding
It’s not only a matter of obligation but also a smart financial move for property owners to educate tenants about flood resources and the importance of purchasing flood insurance for their rental property. Significant water damage can result from flooding, which can occur in seemingly arid regions. Property owners can save thousands in repair costs by ensuring tenants are well-informed about flood preparedness. Thus, it is a win-win scenario.
Property owners should share beneficial online and community resources with all tenants and consider purchasing flood insurance. Obtaining separate flood damage coverage is necessary, as many landlord insurance policies do not include them.
Spending Too Much on Landscaping
It is imperative to establish an aesthetically appealing and practical outdoor environment when it comes to attracting high-quality tenants to a rental property. While investing in landscaping can enhance the total appearance of the property, it’s essential to find a balance. The property’s value could be negatively impacted, and potential tenants who prefer low-maintenance outdoor spaces could be turned off by excessive spending on intricate and high-maintenance landscaping.
Complicated and high-maintenance gardens fail to captivate the eye of some individuals, compared to a well-maintained, straightforward landscape design. An attractive feature for potential renters is simple and well-maintained landscape, as many tenants seek out outdoor spaces that are easy to upkeep and require minimal effort to maintain.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as large cracks and gullies in the soil, persistent wet spots, and dying plants, is a proactive measure that can save property owners from expensive repairs.
Damage increases in cost as erosion is left unchecked for a long time. By adopting proactive landscaping measures such as gravel, landscape timbers, and well-installed gutters and downspouts, property owners can rapidly prevent erosion. This will enable them to preserve the condition of their rental home and prevent avoidable costs.
One of the most successful approaches for property owners to prevent costly mistakes is to have a team of industry professionals on their side. You can have confidence in the regular execution of cost-effective exterior improvements and proactive property maintenance when you engage with a professional property management company such as Real Property Management Silverstone in Troy and nearby. For further inquiries, contact us online or call 586-992-6419 to speak with our team.
Originally Published on June 28, 2019
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