A rental property’s exterior appearance is a major piece of its general appeal. Therefore, using sound judgments about the outside of your rental property in Twin Falls is as equally significant as what goes inside it. Among all the foundations in a rental home that requires repair and maintenance, we have narrowed the list down to these three items that could result in creating costly mistakes. Not advising tenants about flood resources and purchasing flood insurance, spending too much on landscaping, and failing to perform erosion prevention tasks are all costly mistakes that property owners can easily avoid with the right property management plan.
1. Lack of Communication Regarding Flooding
Maybe the most damaging mistake a property owner can make is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can occur wherever in the country, even in dry climates. Storms, broken pipes, and other events can result in severe home water damage. Extending help to tenants and making sure they know what to do in the event of a flood is a critical primary step in avoiding such a costly hazard.
There are useful resources online and in your local community that must be disseminated to all tenants. One more major action that property owners can prepare to avoid costly mistakes is to purchase flood insurance. Most landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
An attractive landscape is one dominant technique to charm quality tenants to a rental home. But spending extravagantly on elaborate landscaping can leave an undesirable bearing on both a rental home’s value and ability to draw in prospective tenants. Some property owners incorrectly believe that when it comes to landscaping, more is always better. The truth is, most tenants don’t want to deal with the amount of work needed in maintaining an elaborately landscaped yard. In the case of rental homes, simple and attractive is far better than a showcase garden.
3. Failure to Employ Erosion Prevention Tactics
Implementing routine checks for signs of erosion encompassing a rental property’s exterior for large cracks and gullies in the soil, wet spots that never seem to dry, and dying plants or brown spots can all be signs that erosion is causing damage to a rental property’s yard. The more prolonged the erosion goes unchecked, the more expensive the damage will be to repair. Along with a bit of proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property owner can better avoid expensive repairs and have their Twin Falls rental home kept in good shape year after year.
One of the best defenses that property owners have against costly mistakes is knowledge and prevention. When you hire a professional property management company, you have a team of industry professionals on their side, making sure that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Magic Valley has the management plan you need to have your property values high and your rental home profitable. For more information, contact us online or call 208-734-4001 to speak with someone in the office.
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.