How to Maximize Property & Rent Value While Avoiding Costly Damage
Any property owner or manager’s worst nightmare is finding out their property is in need of a major, costly repair. Many times, these issues are preventable and can be caught before they become catastrophic.
Keeping a property in good condition is one of the main ways to avoid unexpected costs and maximize property and rent value. Not only does doing so keep the tenant and occupants safe, but it can maximize the value of your property in the long run.
Maintaining Curb Appeal
Maintaining a property from the exterior is just as if not more important than maintaining the interior. Oftentimes, the exterior is the first impression to applicants or prospective tenants driving by. When showing a property, having curb appeal can help the prospective tenant know what to expect on the inside before they enter the building.
One simple way is to keep the exterior of the property clean, or if applicable, repaint when necessary.
Overgrown landscaping is not only a safety issue, but will lessen the value of the property. Dying or overgrown trees can be a risk to the building itself during high winds or storms. Removing dead branches or trees altogether can eliminate the risk of property damage, and contributes to the upkeep of a property. Clogged gutters also create a risk of water damage to the property, and can cause mold and mildew, as well as interior leaks.
Showing a well-maintained property to a prospective tenant not only will increase property value, but provide expectations for the tenant.
Replacing an HVAC unit is a huge expense for a property owner or manager. There are certain things you can do as a property owner to extend the life of your unit and ensure it is functioning properly. Replacing the filters every 3 months will ensure clean air is coming out of the vents, and will ensure the efficiency of the system.
Performing routine tests on smoke and carbon monoxide detectors are a must as a property owner. If you are a landlord, providing functional smoke and carbon monoxide detectors is required. Maintenance may include changing the batteries and/or replacing the detectors. Providing a functioning fire extinguisher is a must, as well as replacing when necessary.
Invest In a Temperature and Humidity Monitor
Invest in MarCELL to monitor and protect your property when you’re not there. Detect water leaks, power outages and extreme temperature and humidity levels from your mobile device. Receive immediate alerts by text, call or email. With customizable preferences, MarCELL adapts to your needs to help prevent unexpected costs and damage to your property.