Owning a rental property can be a lucrative long-term investment, but it can also come with plenty of headaches. As the rental unit owner, it is your responsibility to fix any problems that arise.
This means that you have to replace any broken appliances, handle pest infestations, and ensure the property stays in good condition.
There are many problems you can face as a property owner, but the following articles will provide some insight into how to prevent common issues from occurring.
Related topic: Do I Need an Accountant for My Rental Property?
Dealing with a pest infestation
This problem is not uncommon for anyone who owns or manages properties.
The most common signs include live insects in the rental property, droppings found near food sources such as pantries and sinks, and odor from decaying animals such as mice, rats, and cockroaches.
You can deal with pests in various ways: Insecticides or pesticides can kill pests crawling around your home.
You can treat bed bugs with insecticides, but you might also consider a professional extermination service for this particular pest.
If there are rodents in the property—be it mice, rats, or some other type of rodent—you could use traps that will catch the animals and remove them.
In some cases, you may want to hire a professional to perform this task.
To keep pests out in the first place, ensure all pantries and cabinets are closed so that critters cannot get into boxes of snacks or food.
If there are any openings where pipes or wires go through walls, repair these holes with steel wool or metal tape before they become a problem.
Plumbing: Fixing plumbing leaks
Water leaks can waste lots of water, and these leaks can be a significant expense to you as the landlord if the tenants are required to pay for their water usage.
Therefore, it would help to inspect all plumbing regularly, which could be once every few months.
Locate and repair any water leaks from the taps, faucets, or pipes immediately.
If you cannot handle this task yourself or you’re unable to conduct routine inspections, you may want to partner with a company like Los Angeles Property Management Group.
Your property manager will get the best plumbers to get the job done quickly and correctly.
Your property manager will also get your tenants to do their fair share of the upkeep by helping them understand how they can prevent and detect plumbing issues in the house.
Rental Property Electrical work
Every rental property owner should take electrical safety with utmost seriousness. Inspect every light fixture that you can turn on and off.
Knowing the basics of your home setup should benefit you in the long run. Simple things like “is your house electric AC or DC?”. This should give you when you’re talking with your contractor.
This includes ceiling fans, kitchen or bathroom lights, outdoor lights, pool lights, and outdoor security lights. Also, make sure there are no burnt-out bulbs in any fixture you have inspected.
It is also important to remember that electrical safety standards have changed a lot over time, and they continue to change with new technological innovations.
Therefore, take your time to read the safety standards from reputable sources and follow the safety instructions when performing any electrical work.
It is good to hire a licensed electrician to handle the job if you need electrical work done. If you perform the electrical work yourself, make sure to do it correctly so that no one will get hurt.
The most important thing is to avoid any mistakes because these mistakes could be costly and potentially dangerous.
When it comes to residential rental properties, many things must be dealt with on a daily basis to keep them in good condition.
There are many different types of issues one can run into with the upkeep of their property, but the tips provided here will help you tackle several difficult situations so that you can avoid headaches down the road.