What a rental property’s exterior appearance looks like contributes a lot to its overall appeal. As an owner, you have to be sure in the decisions you make regarding the outside of your rental property in Virginia Beach; bear in mind that what’s on the outside is just as important as what goes inside it. Among all the factors in a rental home that requires repair and maintenance, there are three items that could result in creating costly mistakes. First, not informing tenants about flood resources and purchasing flood insurance, next is spending too much on landscaping, and finally, 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
Possibly the most detrimental blunder a property owner can do is not informing tenants about flood resources and purchasing flood insurance for their rental property. Floods can occur everywhere in the country, even in dry climates. Storms, broken pipes, and other situations can also cause severe home water damage. Making sure tenants know what to do in the event of a flood is an important first step in stopping such a costly hazard.
There are useful resources online and in your local community that must be distributed with all tenants. One other relevant matter that property owners can get to avoid costly mistakes is to purchase flood insurance. Many landlord insurance policies do not include coverage for flood damage; flood insurance must typically be purchased separately.
2. Spending Too Much on Landscaping
Having an attractive landscape is an excellent strategy to entice quality tenants to a rental home. Still, spending too much 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 assume that when it comes to landscaping, more is always better. The truth is, a lot of tenants don’t want to deal with the burden associated with 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
Carrying out 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 longer the erosion goes unchecked, the more expensive the damage will be to repair. With some proactive landscaping, such as gravel, landscape timbers, and properly installed gutters and downspouts, a rental property owner can better escape the horrors of expensive repairs and have their Virginia Beach rental home in good condition year after year.
One of the best defenses that property owners have against costly mistakes is knowledge and prevention. When you hire a professional property management company, you have a team of industry professionals on your side, making sure that proactive property maintenance and cost-effective exterior improvements are taking place on a regular basis. Real Property Management Hampton Roads 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 757-395-4274 to speak with someone in the office.
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