When contemplating renting out a property, the exterior holds equal importance to the interior. There are three key factors to consider: excessive spending on landscaping, ignoring erosion prevention measures, and failing to tell tenants about flood resources. A robust property management plan can help you avoid these pitfalls.
Lack of Communication Regarding Flooding
It’s not just a matter of sense of 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. Even in seemingly arid areas, floods can happen and can result in significant water damage. Property owners can save thousands in repair costs by making sure tenants are well-informed about flood preparedness, creating a mutually beneficial situation for everyone involved.
Property owners are responsible for providing all tenants with valuable online and community resources and should consider purchasing flood insurance. Acquiring separate flood insurance is crucial due to the absence of coverage for flood damage in numerous landlord insurance policies.
Spending Too Much on Landscaping
In terms of attracting high-quality tenants to a rental property, you need to create a visually appealing and practical outdoor environment. Investing in landscaping can increase the property’s curb appeal, but finding balance is key. Spending extravagantly on intricate and high-maintenance landscaping could decrease the worth of the house and discourage potential tenants who opt for low-maintenance outdoor spaces.
A simple and well-maintained landscape design tends to attract more attention compared to a complex and labor-intensive garden. A simple and well-maintained landscape is an appealing feature for potential renters, as numerous people are looking for outdoor spaces that are easy to upkeep and demand minimal effort to maintain.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as large cracks and gullies in the soil, often wet areas, and dead plants, is a proactive strategy that can save property owners from expensive repairs.
If the erosion is left unchecked for a long time, the cost of resulting damage increases. Property owners can effectively prevent erosion by carrying out proactive landscaping measures like gravel, landscape timbers, and well-installed gutters and downspouts, thereby preserving the condition of their rental home and avoiding wasting money.
One of the highly effective strategies for property owners to prevent costly mistakes is to work with a team of industry professionals on their side. Hiring a professional property management company like Real Property Management Strive in Liberty Lake and the surrounding areas can give you peace of mind that proactive property maintenance and cost-effective exterior improvements are performed regularly. If you have any questions, contact us online or call 509-396-7021 to speak with our team.
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