It is crucial to consider the exterior of the house in the same way as the interior when renting out a property. Avoid these three pitfalls: excessive spending on landscaping, disregarding erosion prevention and forgetting to tell tenants about flood resources. To avoid these errors, it is important to have a good property management plan.
Lack of Communication Regarding Flooding
In addition to being the right thing to do and a smart financial move, property owners should educate tenants about flood resources and the importance of purchasing flood insurance for their rental property. Even seemingly dry regions are not immune to floods, which can cause significant water damage. Ensuring tenants are well-informed about flood preparedness can help property owners save thousands in repair costs. It’s a win-win situation for everyone involved.
Property owners should consider purchasing flood insurance and ensure that all their tenants have access to beneficial online and community resources. A supplemental policy covering flood damage is often necessary, as numerous landlord insurance policies do not include it.
Spending Too Much on Landscaping
With regard to attracting high-quality tenants to a rental property, it’s important to build a visually appealing and practical outdoor environment. Finding a balance is important, even though investing in landscaping is a great way to improve the property’s curb appeal. The property’s value could drop, and you might lose potential tenants who prefer low-maintenance outdoor spaces if you spend too much money on intricate and high-maintenance landscaping.
A garden that is complicated and requires a lot of work from its owner is less appealing than one with a simple and well-maintained landscape design. A simple and well-maintained landscape is appealing to potential renters because many tenants are searching for outdoor spaces that are easy to upkeep and require minimal effort to maintain.
Failure to Employ Erosion Prevention Tactics
Regularly checking for signs of erosion around a rental property’s exterior, such as big cracks and gullies in the soil, persistent damp areas, and dying plants, is a proactive measure that can save property owners from expensive repairs.
The expense of repairing erosion-related damage increases if the erosion is left unchecked for a long time. Property owners can effectively prevent erosion by adopting proactive landscaping measures like gravel, landscape timbers, and properly placed gutters and downspouts, thereby keeping the condition of their rental home and evading unnecessary expenditures.
One of the excellent methods for property owners to prevent costly mistakes is to have a team of industry professionals on their side. When you hire a professional property management company like Real Property Management Hampton Roads in Virginia Beach and nearby, you can rest assured that proactive property maintenance and cost-effective exterior improvements are routinely completed. To get more details, contact us online or call 757-395-4274 to speak with our team.
Originally Published on June 28, 2019
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