When a tenant hands in their notice, it can come as a real blow – especially if you hoped they would stay on long term. Many rental property owners feel stressed at the thought of losing a few weeks’ worth of rent and quickly put the home back on the market.
While this may minimise the risk of your property standing empty for longer than needed, it could also cost you more money in the long run. When a tenant hands in their notice to leave it can actually become an excellent opportunity to arrange to give your rental property a quick once-over and ensure it is in top condition.
After all, if you have two long-term tenants it might be ten years before you can have a really good look around the place again.
Even if you have amazing tenants, your property will still undergo some general wear and tear. By investing in small pieces of maintenance regularly, you could end up saving money in the long run before problems escalate.
Here are some particular areas to keep an eye out for when rejuvenating your rental property:
Paint on Walls
The quality of the paint on a property’s walls can do wonders for its aesthetic appeal. When the interior is suffering from general wear and tear, it may make your rental look tired and sad.
Give your property a quick coat of paint and fill in any holes made by picture hangers to keep the interior looking its best. Ask any DIY pro and they will tell you how effective a simple paint touch up can be at brightening and refreshing your home.
It is important to budget for new carpets every 7 to 10 years in your investment property. Not many things makes a property look tired and less appealing than 15 to 20 year old floor coverings.
We all know that tenants are expected to keep a property to the standard it was when they moved in (fair wear and tear excepted). When mould builds up under silicone and the tile grout wears away the tenant cannot be held accountable for this. It is worthwhile looking at replacing silicone and grout on a 2-3 year basis in order to maintain the freshest look possible – short of renovating the whole room.
No matter how big or small your garden, its presentation can really add value to your home and attract potential tenants. As tenants can only be held responsible for shrubs and trees up to shoulder height, doing regular pruning and trimming of larger vegetation will keep it looking its best over the long term.
As tenants cannot be expected to climb ladders or attend to maintenance which may be deemed dangerous, having your property’s gutters cleaned regularly is a tax deduction which could also save the property being water damaged during heavy rain and storms.