One of the biggest concerns a landlord has is the upkeep and condition of their property. As the property ages, the more wear and tear it will endure. It’s vital to implement regular property maintenance to prolong the durability of the property to withstand future tenant turnovers and many years to come.
If the plan for the investment is to keep the property long-term and then sell in the future, it’s vital to explore different strategies to maintain the value of the property for the highest returns.
Here are a few practical strategies that landlords should consider investing into to maintain the durability and value of the property.
Choose Durable Materials for Flooring
The floors are one of the major components to a home that endures the most wear and tear. To prevent the floors from damaging, cracking and wearing out, investing in high quality flooring will go a long way despite the initial investment.
Hardwood flooring has many benefits over other types of flooring. These benefits go beyond looks and durability, providing additional advantages you may have never realized.
Quality hardwood flooring is made from solid wood, it is incredibly durable and will last for many years. Unlike carpet and other flooring options, hardwood flooring won’t fade as easily and are able to withstand heavy foot traffic.
While the initial cost of hardwood flooring may seem expensive, investing in hardwood flooring is actually very cost-effective. Hardwood floors are incredibly durable and easy to clean, you’ll spend a lot less in cleaning and repairs over the years. Not to mention, hardwood floors can last for generations. Even though the initial expense may be more, you’ll end up paying less in the long run.
Implement Regular Maintenance
Schedule General Inspections
We recommend conducting annual general inspections to identify and address minor issues before they become significant problems. Routine checks can help maintain the property’s condition and prevent costly repairs.
Maintain HVAC Systems
Regular servicing of heating, ventilation, and air conditioning systems ensures they operate efficiently and reduces the likelihood of breakdowns. We suggest doing this before the HVAC systems are put to work the most, which is in the summer and winter seasons. This not only protects your investment but also keeps tenants comfortable.
Choose Stainless Steel
Stainless steel appliances are more durable and resistant to wear and tear compared to other finishes, making them a smart choice for rental properties.
Protect Against Water Damage
Install Waterproofing Measures
Ensure areas like basements and bathrooms are properly waterproofed to prevent water damage. Use moisture-resistant materials to protect against leaks and dampness.
Most importantly, regularly inspect and maintain roofing and gutter systems to prevent leaks and water.
By following these strategies, you can significantly enhance the durability of your rental property, reduce maintenance costs, and ensure that it remains appealing and functional for future tenants. Protecting your investment through thoughtful choices and proactive management not only preserves the property’s value but also creates a positive experience for your tenants, leading to longer leases and lower turnover rates.
