A rental property’s exterior appearance is a huge part of its general appeal. Because of this, making the right arrangements about the exterior of your rental property in South Hampton is just as important as what goes on inside it. With all the things in a rental home that need to be updated and restored, there are three items that could one day generate expensive repairs. Not notifying 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
Arguably, the worst thing a property holder can do is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can develop anywhere in the country, even in dry climates. Storms, broken pipes, and other disasters can create severe home water damage. Helping tenants to know what to do in the event of a flood is an imperative step in avoiding such a damaging threat.
There are exemplary resources online and in your local community that should be shared with all tenants. Another critical thing that property owners can do to avoid harmful mistakes is to procure flood insurance. Lots of landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
A tempting landscape is an indispensable means to tempt quality tenants to renting your rental home. But paying extravagantly on elaborate landscaping can have repercussions on both a rental home’s value and ability to draw in prospective tenants. Some property owners inappropriately assume that when it comes to landscaping, bigger is always better. But plenty of tenants are hesitant to take on the added work required 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
Doing routine checks for signs of erosion about 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 further the erosion goes unchecked, the more expensive the loss will be to rectify. With certain proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property owner can better avoid expensive repairs and keep their South Hampton rental home in good condition year after year.
One outstanding safeguard that property owners have against expensive mistakes is knowledge and prevention. When you enlist a professional property management company, you have a team of industry experts on your side guaranteeing that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Prosperity has the management plan you need to keep your property values high and your rental home profitable. For more information, contact us online or call 267-433-4200 to speak with someone in the office.
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