Owning a Property: Building Maintenance Checklist

Owning rental property can be quite a task, especially if you are new to the real estate investing industry. Afterall, tenants want to rent a place that they are proud to call home. As a landlord or property manager, you must be on top of strategies that will ensure your investment is in its best shape at all times. Part of that means knowing what to take care of.

Here is a quick rental property maintenance guide you can follow.

Pest Control

One sure thing that will turn tenants away insects and seasonal rodents. Even though insects are a relatively common hassle, especially during the spring and summer months, it is important to hire an exterminator or pest control company to spray around the perimeter of the property periodically to keep insects at bay. Even though this will cost you some money upfront, it can save you money in the long run. Same applies for rodents, seasonal as well, however you should have an accredited pest control company on a maintenance contract for your property.

Test Smoke Detectors

Whether you’re a homeowner or a property manager, it is imperative that you ensure that all smoke detectors and carbon monoxide detectors are in proper working order. It is your duty to put the health and safety of your tenants first. Always check the batteries and replace them if needed. This should be done on an annual basis.


Fire Extinguishers

Just as important as having smoke detectors, it is essential that you have your fire extinguishers and fire suppression systems checked and tested annually as well. It is important that you hire a professional Life & Fire Safety contractor to manage this on your behalf. If you are not professionally licensed, you should not attempt to do this on your own.

Check the Plumbing

Another key in maintaining your rental property is to make sure the pipes are not clogged as the consequences can lead to severe damage. Look for leaks at least twice a year. It’s also important for older buildings to see where you can add emergency shut-offs, as well as labelling your piping system. This will help in the event you should have a serious leak.

Have the Exterior Inspected

As a property manager, you should be inspecting not only the inside of the building, but also the outside. In order to minimize rental property maintenance expenses, check the exterior of your investment property regularly. Look for things like water and insect damage and remember to clean the gutters from debris to avoid issues.

Cleaning

Tenants will appreciate it if you have the property cleaned on a consistent basis, more so during the rough winter months where salt accumulation is brought inside and could wreak havoc on your finishes and carpeting. Cleaning can include deep steam carpet cleaning, wiping down walls, strip and wax, painting and more. This removes dirt buildup and will ensure that the rental property is in its best condition.

Doing a few of these periodic tasks throughout the year is essential if you want to retain and attract tenants. It also gives you pride knowing that you’re taking care of your investment so you can have it for years to come.

Popular posts from this blog

Report: With Easing Pandemic, Toronto Rental Market Could Recover Soon

The pandemic has affected renters far more than homeowners, and the rental market in the Greater Toronto Area could soon recover if the virus is brought under control.  That’s the message in the Canada Mortgage Housing Corporation’s (CMHC) Spring Housing Market Outlook , which said that employment losses have been concentrated among younger Canadian workers, most of whom are renters.  Other drivers of renting have also been affected, like international migration, which has slowed significantly, according to the report from Canada’s national housing agency. Another big portion of renters are students, most of whom have been learning online.  For students, remote learning meant they could relocate to lower-priced areas of town, or move in with their parents, lowering the demand for rentals in the process.  At Alto Properties’ five-story apartment building, 859 Kennedy Road, we saw that slowdown firsthand, and the likely causes outlined in the CMHC report make sense. At the same time, we’
Read more

Improving Safety Measures to Fight COVID

 As the Toronto real estate industry continues to boom and the pandemic continues to impose restrictions on daily life, it’s crucial that both landlords and the City of Toronto improve health and safety measures in residential buildings.   City officials have already urged Condo Boards and Landlords to adopt additional measures to protect Toronto residents from the spread of COVID-19. These new measures are aimed especially at large residential buildings that have a large number of units.   “During this unusual time, patience and understanding from landlords is necessary to help stop the spread of COVID-19,” according to the City of Toronto website . “The City encourages all property owners to check in on their vulnerable residents and if necessary, connect them to the appropriate local agencies and supports.”   The RentSafeTO program was implemented several years before the pandemic, but remains another important part of fighting the spread of the virus while raising standards
Read more