A rental property’s exterior appearance is a huge factor for its general appeal. Because of this fact, as an owner, you have to be extra careful in making decisions regarding the exterior of your rental property in Troy as it is equally important as what goes inside it. Among all the things in a rental home that need to be repaired and maintained, there are three items that could potentially result in costly mistakes. Not informing tenants about flood resources and purchasing flood insurance, spending too much on landscaping, and failing to perform erosion prevention tasks are all costly mistakes that property owners can easily avoid with the right property management plan.
1. Lack of Communication Regarding Flooding
Probably the worst blunder a property owner can commit is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can occur just about everywhere in the country, even in dry climates. Storms, broken pipes, and other events can give rise to severe home water damage. Educating tenants and making sure that they know what to do in the event of a flood is a crucial initial stage in averting such a threat.
Useful resources online and in your local community are readily available online must be distributed to all tenants. One more crucial thing that property owners can ensure to avoid costly mistakes is to acquire flood insurance. Many landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
An attractive landscape is an excellent way to draw in quality tenants to a rental home. However, spending unreasonably on elaborate landscaping can have a negative bearing on both a rental home’s value and ability to draw in prospective tenants. Some property owners erroneously assume that when it comes to landscaping, more is always better. But many tenants don’t want to deal with the amount of work involved in maintaining an elaborately landscaped yard. In the case of rental homes, simple and attractive is far better than a showcase garden.
3. Failure to Employ Erosion Prevention Tactics
Carrying out routine checks for signs of erosion surrounding a rental property’s exterior for large cracks and gullies in the soil, wet spots that never seem to dry, and dying plants or brown spots can all be signs that erosion is causing damage to a rental property’s yard. The longer the erosion goes unchecked, the more expensive the damage will be to repair. With a bit of proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property owner can better avoid expensive repairs and make sure that their Troy rental home is in prime condition year after year.
One of the best defenses that property owners can equip themselves to counter costly errors is knowledge and prevention. When you engage the services of a professional property management company, you have a team of industry professionals on their side, making sure that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Silverstone has the management plan you need to keep your property values high and your rental home profitable. For more information, contact us online or call 586-992-6419 to speak with someone in the office.
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