1. Lack of Communication Regarding Flooding
Possibly, the worst gaffe a property landowner can make is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can occur in any place in the country, even in dry climates. Storms, broken pipes, and other events can result in severe home water damage. Helping tenants know what to do in the event of a flood is a pivotal first step in thwarting such a disastrous event.
There are lots of outstanding resources online and in your local community that should be distributed to all of your tenants. Another essential thing that property landowners can carry out to circumvent catastrophic mistakes is to secure flood insurance. A great number of landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
An attractive landscape is a pivotal approach to entice quality tenants to a rental home. But lavishing inordinately on elaborate landscaping can have an adverse effect on both a rental home’s value and ability to draw in prospective tenants. Some property owners falsely believe that when it comes to landscaping, more is always preferred. But an infinite number of tenants don’t want to be bothered by the work needed 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 around 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 greater the erosion goes unchecked, the more extravagant the damage will be to overhaul. With some proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property landlord can better dodge overpriced repair work and keep their Hanover County rental home in great shape day in and day out.
One of the greatest safeguards that property landowners have against exorbitant mistakes is knowledge and prevention. When you recruit a professional property management company, you have a team of industry experts on your side confirming that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Richmond Metro has the management plan you need to keep your property values high and your rental home profitable. For more facts, contact us online or call 804-417-7005 to speak with someone in the office.