When it comes to renting out a property, it is extremely vital to give equal consideration to the exterior and interior. Three mistakes that should be avoided at all costs are forgetting to tell tenants about flood resources, spending an excessive amount of money on landscaping, and failing to take care of erosion prevention. You may be able to avoid making these errors with the assistance of a great property management plan.
Lack of Communication Regarding Flooding
It’s not just 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. It is possible for floods to occur everywhere, even in regions that appear to be dry, and they can cause significant water damage. As a result of ensuring that tenants are well-informed about flood preparedness, property owners can save thousands in repair costs, creating a situation in which everyone benefits.
Not only should property owners consider purchasing flood insurance, but they should also make sure that all tenants have access to helpful online and community resources. Flood damage is not covered by many landlord insurance policies, so it is necessary to purchase flood insurance separately.
Spending Too Much on Landscaping
When it comes to attracting high-quality tenants to a rental property, it’s essential to develop a visually appealing and practical outdoor environment. Although investing in landscaping can improve the overall appearance of the house, it is essential to strike a balance. Investing heavily in intricate and high-maintenance landscaping can potentially decrease the selling price of the property and dissuade potential tenants who are looking for low-maintenance outdoor spaces.
When compared to a complicated and high-maintenance garden, a simple yet well-maintained landscape design is more likely to attract interest. Numerous tenants are seeking outdoor spaces that are easy to upkeep and need minimal effort to maintain, making a simple and well-maintained landscape an enticing feature for potential renters.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as large cracks and gullies in the soil, persistent wet spots, and dying plants, is an avoidance measure that can save property owners from expensive repairs.
When erosion is left unchecked for an extended period of time, the damage becomes more expensive. Property owners can effectively prevent erosion by implementing proactive landscaping measures like gravel, landscape timbers, and well-installed gutters and downspouts, thereby preserving the condition of their rental home and avoiding pointless expenses.
One of the most efficient methods for property owners to prevent costly mistakes is to have a group of industry professionals on their side. You can have peace of mind knowing that proactive property maintenance and cost-effective exterior improvements are conducted on a regular basis when you choose a professional property management company like Real Property Management Meridian in Keller and surrounding areas. For further questions, contact us online or call 817-678-8787 to speak with our team.
Originally Published on June 28, 2019
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.