When it comes to renting out a property, it’s crucial to give equal consideration to the exterior and interior. Three potential pitfalls to be mindful of include neglecting to tell tenants about flood resources, overspending on landscaping, and failing to deal with erosion prevention. A successful property management plan can help you avoid these errors.
Lack of Communication Regarding Flooding
It’s not just a question regarding duty 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. Floods can occur in any location, including seemingly arid locations, and can lead to significant water damage. Property owners can save thousands in repair costs by making certain that tenants are well-informed about flood preparedness, creating a mutually beneficial outcome.
Property owners ought to distribute beneficial online and community resources to all tenants and consider purchasing flood insurance. Several landlord insurance policies exclude coverage for flood damage and need a separate policy to be obtained.
Spending Too Much on Landscaping
When it comes to attracting high-quality tenants to a rental property, it’s imperative to create a visually appealing and practical outdoor environment. Although investing in landscaping can improve the aesthetic appeal of the property, it’s crucial to achieve an optimal balance. Investing excessively in intricate and high-maintenance landscaping has the potential to decrease the value of the property and discourage potential tenants who seek low-maintenance outdoor spaces.
An uncomplicated yet well-maintained landscape design garners greater attention than an intricate and labor-intensive garden. Several tenants seek outdoor spaces that are easy to upkeep and need minimal effort to maintain, making a simple and well-maintained landscape an appealing characteristic for potential renters.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as big cracks and gullies in the soil, persistent areas of moisture, and wilting vegetation, is a preventative action that can save property owners from expensive repairs.
The longer the erosion is left unchecked, the more expensive the resulting damage becomes. Property owners can efficiently prevent erosion by employing proactive landscaping measures like gravel, landscape timbers, and well-installed gutters and downspouts. This helps to preserve the condition of their rental home and save unwanted expenses.
One of the most advisable methods for property owners to prevent costly mistakes is to have a team of industry professionals on their side. When you work with a professional property management company like Real Property Management Magic Valley in Twin Falls and the surrounding areas, you can have peace of mind knowing that they will consistently carry out proactive property upkeep and cost-effective exterior improvements. To obtain further details, contact us online or call 208-734-4001 to speak with our team.
Originally Published on June 28, 2019
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