Maintaining your Cleveland rental property might seem expensive in the short-term, but have you considered how you’ll take care of it over time? Good maintenance policies and practices now will increase the home’s value and provide for better tenant retention.
If you’re planning to hold onto your asset for at least a decade, you’ll need to know how you plan to maintain it through tenant turnovers, aging appliances, and deteriorating floors, fixtures, and roofs.
Deferred maintenance only harms the value of your investment and costs you money in the long term. Don’t leave things to linger or tell yourself that you’ll get to it next month or next year. Make a plan for long term maintenance, and follow it. Preventative maintenance will always help you have a better investment experience.
Pay Attention to Plumbing
Water damage is expensive for Cleveland rental homes, and it’s never fun to fix. Small leaks might not seem like a big deal, and it’s easy to put them off. But, over time they can turn into larger leaks that damage floors and walls and eventually lead to rot and mold.
Avoid those leaks as well as any water intrusion. When you’re inspecting the property or checking it before and after tenants move in and out, look under sinks. Check the floors around toilets and tubs to be sure there isn’t any softening. Look for drooping or discolored ceilings and walls.
If you notice any sign of a water leak, call your plumber immediately.
Other preventative measures concerning water include cleaning out your gutters at least annually. You don’t want leaves and debris to get caught there, driving water towards your home. Flush out irrigation systems and sprinklers and make sure you have a plumbing maintenance plan every winter.
Heating and Cooling Systems in Cleveland Rental Homes
One of the most expensive systems in your rental property is the heating and cooling system. Cleveland rental properties will require both heat and air conditioning throughout the year. Residents will switch from one service to the other as seasons change. Annual and seasonal inspections will help you prevent expensive repairs.
Have a licensed technician inspect your system and make sure it’s working properly. This attention once or twice a year will also extend the life of your furnace and your air conditioning unit, which is important when you know you’ll have the property for several more years. The heating and cooling of your property will be more efficient.
Your tenants will appreciate this preventative maintenance too, as it will improve their air quality inside the home and keep their energy costs down. Remember that long term tenants can help you take care of your property, even as it ages. Give them a reason to feel like you’re working together.
Put Together a Preferred Vendor List
One of the best reasons to work with a Cleveland property management company is the vendor relationships that come with the partnership. Property managers have their own in-house maintenance teams or they have access to the best vendors and contractors in the area. These are licensed and insured professionals who stand behind their work. The long term care and maintenance of your investment property will require a great network of vendors.
Well-maintained rental properties rent for more money and to better tenants. They also appreciate faster and provide you with a stronger investment portfolio. If you have any questions about how to effectively maintain your Cleveland rental property, please contact us IIP Management. We work with owners in the Greater Cleveland area.