We always begin a new year by setting goals and making resolutions both personally and professionally. If you are in the fortunate position of being the owner of rental property investment, you very likely set goals by your most important asset. It takes a lot of work to keep that asset profitable and up to scratch. There are a few home maintenance tips that can help with the upkeep of your rental property. At HomeVault, we overviewed the more common maintenance issues that appear in a rental property and came up with a rental property maintenance checklist to guide you through 2021.
Why do you need a rental maintenance checklist?
While all homeowners tend to have a home maintenance list, it is especially important for landlords to have a rental maintenance checklist. You are bringing someone else into your most important asset, possibly your personal residence. You have to make sure that that asset will keep its value and will be returned to you in the best possible condition. The easiest way to make sure that you implement a periodical check-up of the state of your rental investment is to set up an annual rental property inspection checklist.
Annual rental property inspection checklist
No matter if you are a DIY landlord or if you use the services of a professional property manager, this checklist is a must when it comes to the administration of your property. It will help you to record the exact state of your property and to lessen the amount of maintenance. Most property managers use such a property management preventive maintenance checklist during scheduled annual inspections of the property that they manage. We have to stress that this checklist can be implemented only if you can conduct the annual property inspection while complying with all regulations brought up by the COVID-19 pandemic.
The typical annual inspection checklist includes the following:
- Pipes– You need to check if there is any corrosion or leaks.
- Toilet and shower/ tub – Look for any scratches or possible leaks. Better to prevent a