With regard to renting out a property, it’s critical to consider both the exterior and interior. Three things to watch out for are neglecting to tell tenants about flood resources, overspending on landscaping, and failing to address erosion prevention. A smart property management plan can help you avoid these pitfalls.
Lack of Communication Regarding Flooding
It is not only a matter of accountability 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. Floods can occur anywhere, even in seemingly dry locations, and can cause significant water damage. Property owners can save thousands in repair costs by guaranteeing tenants are well-informed about flood preparedness, creating a situation where everyone gains.
Property owners should provide useful online and community resources to all tenants and consider purchasing flood insurance. Several landlord insurance policies do not include flood damage and must be arranged separately.
Spending Too Much on Landscaping
With regard to attracting high-quality tenants to a rental property, it’s important to make a visually appealing and practical outdoor environment. Although investing in landscaping can improve the general appearance of the property, it’s critical to strike a balance. Spending too much on intricate and high-maintenance landscaping could lower the value of the property and turn off potential tenants who want low-maintenance outdoor spaces.
A simple yet well-maintained landscape design draws more attention than an extravagant and complicated garden. Numerous tenants are searching for outdoor spaces that are easy to upkeep and need minimal effort to maintain, so a simple and well-maintained landscape is an appealing aspect for potential renters.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as huge cracks and gullies in the soil, continuous wet areas, and dead plants, is a preventative practice that can save property owners from expensive repairs.
The longer erosion is left unchecked, the more expensive the damage becomes. Property owners can efficiently prevent erosion by employing proactive landscaping measures like gravel, landscape timbers, and well-installed gutters and downspouts, thereby maintaining the condition of their rental home and avoiding needless expenditures.
One of the most successful methods for property owners to prevent costly mistakes is to surround themselves with industry professionals. When you work with a professional property management company such as Real Property Management New York Gold in Queens and the surrounding areas, you can be confident that proactive property maintenance and cost-effective exterior improvements will be completed on a regular basis. For additional details, contact us online or call 347-905-5770 to speak with our team.
Originally Published on June 28, 2019
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