What's happening in the market right NOW
Read Here

Protect Your Investment by Maintaining Your Rental Property

By Liam O'Boyle

Regular maintenance of your rental property is incredibly important in ensuring that you will continue to enjoy a good return on your investment. Some property owners do only the bare minimum to maintain their rental property or, even worse, they do nothing at all. These are the same owners who then complain that they are no longer able to charge a competitive rental rate, have tenants who won’t look after the place, and have a high tenant turnover.

While you may not be able to install expensive flooring or upgrade your kitchen, there are small things you can do to show that you are keeping your property well-maintained. In doing so, you’ll keep good tenants longer and receive top returns on your rental investment. Another important reason to keep the place up to standard is safety. Failing to maintain your property could lead to serious injury for your tenants.

Nicer homes attract better tenants
A run-down property will command less rent and may encourage less than ideal tenants from showing interest. Keeping your property well-maintained and tidy will inspire decent people to rent the property.

Regular maintenance helps prevent injuries
Failing to maintain a rental property could have significant consequences if a tenant or their family member is injured. On a regular basis, you should be prepared to review and ensure the integrity of steps and railings, electrical sockets and wiring, flooring, outdoor lighting, electrical appliances, loose pavers, leaks, windows and doors, and fencing. You should also be aware of any dampness or mould issues that, left untreated, could lead to illness and serious damage to the property. Another serious issue is smoke alarms. Make sure they are working and are tested regularly.

Set the expectations high
What one person considers clean and tidy may be completely different to what another person believes is an acceptable level of cleanliness. Before renting a property, it is the landlord’s duty to ensure the house is clean before the new tenant moves in. By ensuring that the place is sparkling clean, the lawns are mowed, gardens weeded, and shrubbery and trees are trimmed back, you are telling the tenant that this is how the property should be kept. Leave it in a mess and you are sending the message that you don’t care and neither should they. This also covers getting rid of mould, damp issues, and any infestations.

Taking pride
Tenants don’t want to want to live in a run-down property. Renters are entitled to live in a warm, dry environment. It pays to check the laundry and bathroom areas to ensure there is good ventilation. This will help prevent mould and condensation from building up in the home. If it is damp, consider installing a ceiling ventilation system or extractor fan. It is also worth insulating the property to keep it warm and dry, which will further increase the value of the property. Happy and healthy tenants are more likely to stay in your rental property longer and care for it like their own.

We’d love to hear how you keep your rental property in good shape. Feel free to share tips with us in the comment area below!

Up to Date

Latest News

  • REINZ Launches Guide to Property Management Course

    REINZ recently released the Beginner’s Guide to Property Management course, with the objective of giving new property managers the up-to-date knowledge required to succeed in the rapidly evolving industry. What does the course cover? The 15-hour online course has been written by property management experts and is made … Read more

    Read Full Post

  • Increase Rental Property Value with Summer Jobs

    Completing summer jobs at your rental property can help improve its value, attract (and retain) good tenants, and in some cases justify rent increases. Here are five jobs to consider carrying out at your investment property this summer. 1. Install a new letterbox or give the standing one … Read more

    Read Full Post