Renting a property can be a reliable source of income for homeowners and landlords. With a booming property market and with professional assistance from the OKC rental property management companies, the tenants have lots of viable and affordable options available. However, it is important to maintain the property for the best results and high value of the space and home. Below are the top 11 tips for caring for rental properties and ensuring their high value and best returns at all times.
- Check Your Responsibilities Following the Lease
The lease and the rental document will detail all the responsibilities of the landlords and the tenants, following the lease and rental agreement. In most cases, the heavy and major works (for instance plumbing, HVAC, and electrical). are the responsibilities of landlords. Minor maintenance issues (such as the replacement of burnt bulbs or trash removal) are the tenant’s responsibility. You must ensure that you are following your responsibilities timely.
- Organize and Standardize the Move-In
You must try to standardize the moving process and must take a few pictures of the property before the actual move-in of the tenant. You must also maintain certain standards for the maintenance of the property and should inform your tenant about it. Such an organization will ensure that the property maintains its integrity and aesthetics throughout the rental duration as well.
- Routine Inspections
Routine inspection for a property and home may involve checking for broken windows, water leaks, full gutters, and rotting wood. Likewise, you can also inspect the relevant interior areas of a home and property to find out the defects. Caring for these issues can ensure that the minor problems do not aggravate into big issues, thereby saving costs.
- Pest Control
Pest control can be a common issue faced by the tenants and the property owners. The landlords must provide a safe habitable move-in property to the tenants and preserve the trust of the relationship. A professional service for property management in OKC can also take care of pest issues.
- Landscaping
If your tenant can maintain the backyard and front yard of the property, you may skip landscaping. However, in other cases, you require the services of professional landscapers. A well-kept property with landscaping has much higher value, better visual appeal and aesthetics, and reduced summer heat. It also resists pest infestations among other benefits.
- HVAC System Maintenance
The Heating, Ventilation, and Air Conditioning (HVAC) units require professional servicing from time to time and must be in decent shape before you rent the property to the tenant. The property management services in Oklahoma and the USA take care of all the aspects of property management (including HVAC system maintenance). You can also hand out the air filters to your tenants so that they can change them every month.
- Appliance Maintenance
If the landlord is providing the tenant with appliances (such as water heaters and dishwaters among others), these machines should be maintained regularly. For instance, it is important to adjust the thermostat of the water heater and drain the tank to remove sediments timely. If the tenant is responsible for maintaining the appliances following the provisions of the lease, you should check that they are fulfilling their responsibilities.
Boost Property Value with Skip Bin :
Elevate the value of your rental property by integrating skip bins into your maintenance routine. Hiring a skip bin offers a practical solution to streamline waste management, ensuring your property stays clean and inviting. Beyond the aesthetic benefits, this approach signals a commitment to environmental responsibility, a key selling point for eco-conscious tenants. Regular use of skip bins minimizes the risk of pest infestations, reduces property damage, and contributes to long-term cost savings. By showcasing a dedication to a clean and organized living space, you not only attract quality tenants but also promote longer tenancies and positive referrals, enhancing the overall appeal and desirability of your rental property in a competitive market.
- Material Procurement
For home maintenance, you may require certain materials over a period. You can certainly save lots of costs and expenses towards home maintenance if you can plan the procurement of materials (following the principle of economies of scale). It is especially useful for landowners with multiple properties. For instance, the landowners may buy the paints in bulk for multiple properties, thereby reducing property maintenance costs.
- Documentation
You must maintain and keep all the relevant documents of your rented property (including the receipts and lease documents). The same is also required of the tenants. The documents can help you better understand your role and responsibilities, standardize the rental process, and ensure that the property is always in attractive shape. Proper documentation also ensures that the aggrieved party may easily lay a claim.
- Tax Benefits
Renting property is a business. Some of the expenses that you incur towards property management maintenance and care (including expenditures towards repair and upkeep) qualify as tax deductible.
- Monitoring System
An automated monitoring system can ensure that the threats and dangers to the property and the inhabitants are prevented. Such a system may also reduce huge expenses, as you come to know of the minor issues early. For instance, fire systems are burglar alarms that can prevent the undesired occurrences of fire and burglary. You can also hire the professional services of property management in OKC to take care of such issues and ensure peace of mind.
Conclusion
Property owners should refrain from cutting corners and should pay attention to maintenance issues, rush through inspection, or miss the tenant screening process. The leading home rental companies in OKC will assist you in renting or leasing a property and also offer you the necessary services for caring for and maintaining your property at affordable costs.
