Have you ever had random unexpected rental property costs come up as you tried to move a tenant into one of your rental properties in Marietta? Having prepared yourself well for the many unexpected rental property costs that may arise can help you plan and deliver a better estimate regarding move-in times and budget the funds you need to set aside for your investment. The following will explain the different elements that we have found that may come up when you are trying to start up your property investment:
Cleaning can lead to some hefty unexpected rental property costs both directly and indirectly. You should put yourself in the tenant’s shoes to make the right decision about cleaning expectations. Would you move into the property you are renting out? Asking yourself this question can help you determine if it would be a place that is clean enough that you would trust your own family to stay in. If renters move in and see that a home isn’t aptly cleaned, it can lead to a bad first impression about you as an owner and of the property itself. They might require that certain demands be met, or they might leave it as it is but treat the property with less care and respect as they are only contributing to the value of the property that they first perceived it to be, which can lead to damages like dirty or stained floors, pest problems, and additional unexpected rental property costs.
To solve the cleaning cost, you would have two decisions to make. You could hire a professional cleaning service that can help with all the deep cleaning and ensure that everything is in order before you move in your tenants. Another decision you can make is to perform the cleaning yourself. However, cleaning can be tedious and expensive in finding the right equipment and materials. Additionally, your efforts as a property owner in Marietta are better spent in other areas where a higher time value would be present.
Perform a home inspection to guarantee the safety of the tenants. Mold can be dangerous, cause health problems, reproduce rapidly, and cause damages to the home, which can lead to unexpected rental property costs if it is not properly handled. The key to finding mold is finding where it is likely to produce – in areas of excessive moisture. Do a comprehensive inspection and look for areas that have low air circulation, high humidity, and leaking pipes or appliances and locate the dark spots or wet areas. You could also hire a professional to do thermal imaging to find the high moisture spots or to take an air quality sample.
The key to preventing mold costs in Marietta is controlling moisture. Tell tenants to run the bathroom fan after taking a shower to ensure proper ventilation. Make sure leaky faucets and pipes are immediately handled. You can also make sure your gutters are cleaned out and the water drains are directed away from the house to maintain the foundation.
Structural damage is anything that can affect the long-term structure/core of the home. This involves the foundation, roof, and support beams/walls. Windows and door frames can also indicate the overall integrity of the home if they are sagging or tilting away or against the home. Cracks in the foundations or wood, hard-to-open windows or doors, pipes, wires, insulation, and rust can be indicators that something needs attention to upkeep your home for long-term use.
If structural damage isn’t attended to, it can be enormously costly as the home may deteriorate or diminish. Before a tenant moves in, checking for structural damage is effective in ensuring your investment maintains its quality. It is advised that the sooner you repair something, the better, as unexpected rental property costs can add up over time.