Our Guide to Maintenance for Property Owners: How to Protect Your Investment
Investing in property comes with liabilities and costs. Whether you are living in a home or renting one out, you will be faced with maintenance problems from time to time.
These costs of these can impact your return on investment or the value of the property. Leave a problem too long and you can be faced with some big repair bills. No matter how you invest in real estate, you need to know when to repair and when to replace.
This guide is going to help you a grip on some common maintenance problems. You will know what to look for when assessing your property, or a property you intend to buy. Keep reading if you want to maintain your investment and look after your money.
Begin at the Roof
The biggest, most expensive, and time-consuming job is a roof replacement. Just repairing a roof can be both disruptive and costly. Poorly maintained roofs can cause damage inside a building, even down to the foundations.
Your roof’s primary job is weather protection, and water damage wreaks havoc on any building. Conducting a regular roof inspection helps you stop problems early, saving you money. Check for missing tiles and areas where water collects rather than drains.
Think about the seasons and your local weather too. Inspect your roof yourself or have a professional do it before a rainy period or a heavy winter.
Inspect the Outdoor Space
Ground maintenance is important to stay on top of. Take some small cracks in asphalt or concrete, add some rain followed by frost, and you might find a canyon in your driveway one morning.
Fixing this level of problem is too much for most people. Laying concrete and getting it level is no easy feat. Call in the professionals, like this concrete floor repair company. They have decades of experience in concrete floor repair. Their professionally finished product may add to your property value.
Many property owners neglect the fact that their property is more than the building. The plot the building sits on is also your responsibility. The impact the appearance of your outdoor space can have on property value is important.
Get Inside and Go Top to Bottom
The interior space can be hiding problems from you. When you are looking around keep a close eye out for signs of water damage or dampness. Moisture can create all kinds of problems if it gets in the wrong place.
Water is your biggest foe as a property owner. It can come from weather or from plumbing. Left undetected even a small, slow drip can cause a lot of damage over time. Look for dark patches on the wall, especially in corners of rooms or near pipework.
Start under your roof and work your way down through any buildings on your property. Keep your eyes peeled for any obvious signs of damage or disrepair but look closely for damp patches.
You need to get as deep down as you can and inspect any basement or cellar space. Water damage down here can affect the structure of a building. Call in a professional if you see anything suspicious or any subsidence down there.
Windows, Doors, and Floors
Checking your windows and doors is important for several reasons. When renting out a property you may be required to perform this maintenance. This may be for Fire Codes or local property ordinances.
Windows and doors are also a way for weather and water damage to affect parts of your property. Look for damage to the doors and windows themselves, as well as their frames. Door and window frames can be a place where moisture collects if you have a leak somewhere in a crawl space.
The flooring in your property should also be checked, though only briefly. Look for damage severe enough to need repair or replacement.
Perform a Systems Check
Every building has a set of systems that are an integral part of its structure, and it needs to function. Electrical and plumbing systems are two obvious candidates. You also need to check and maintain Heating Ventilation and Air Conditioning (HVAC) systems.
Without these different systems operating your property will not be a pleasant place to live or work in. If you have tenants in a rental property, you may have a legal obligation to repair any issues regardless of cost.
Keeping on top of problems and fixing them will prevent you from being blindsided by big bills for fixing heating or electrical systems. If you have a problem with any of these systems, it is worth enlisting the help of a qualified professional.
Property can be one of the best investments you can make. Whether it is a house you live in or commercial property you are renting out; buildings and land can provide an excellent return on investment. Poor maintenance can steal your profits, use this guide to protect your investment.