Have you ever had random unexpected rental property costs pop up when trying to move someone into one of your rental property locations in Seattle? Getting yourself properly prepared for the many unexpected rental property costs that may arise can aid you in planning and providing a better estimate in terms of move-in times and budget the funds you need to set aside for your investment. The following will explain the various elements that we discovered that may come up when you are attempting to start up your property investment:
Cleaning can drive up some substantial unexpected rental property costs both directly and indirectly. You should put yourself in the renter’s shoes to come to the right decision about cleaning expectations. Ask yourself if you would move into your rental property. Asking yourself this question can help you determine if the place is clean enough that you can trust your own family to live in. If renters move in and see that a home isn’t cleaned properly, it can lead to a bad initial impression about you as an owner and of the property itself. They might request that specific demands be met, or they might leave it as it is but handle the property with less care and respect as they are only contributing to the value of the property that they originally perceived it to be, which can lead to damages such as dirty or stained floors, pest problems, and more unexpected rental property costs.
To solve the cleaning cost, you would have two decisions to make. You could get a professional cleaning service that can help with all the deep cleaning and ensure that everything is in order before you have your tenants move in. Another decision you can make is to do the cleaning yourself. However, cleaning can be laborious and expensive in finding the right equipment and materials. Moreover, your efforts as a property owner in Seattle can be better spent in other areas where a higher time value would be present.
Perform a home inspection to ensure the safety of the tenants. Mold can be dangerous, cause health problems, reproduce fast, and cause damages to the home, which can lead to unexpected rental property costs if it is not properly handled. The key to finding mold is finding where it tends to produce – in spaces with excessive moisture. Do a thorough inspection and look for areas that have low air circulation, high humidity, and leaking pipes or appliances and locate the dark spots or wet areas. You could also hire a professional to do thermal imaging to find the high moisture spots or to collect an air quality sample.
The secret to preventing mold costs in Seattle is moisture control. Instruct tenants to run the bathroom fan after they take a shower to ensure proper ventilation. Make sure leaky faucets and pipes are immediately fixed. You can also make sure your gutters are cleaned out and the water drains are directed away from the house to preserve the foundation. Fire hazards can also be another topic of consideration, which you can read more about here.
Structural damage is whatever can affect the long-term structure/core of the home. This includes the foundation, roof, and support beams/walls. Windows and door frames can also indicate the overall integrity of the home if they are sagging or tilting away or against the home. Cracks in the foundations or wood, hard-to-open windows or doors, pipes, wires, insulation, and rust can all signal that there is something that needs fixing to upkeep your home for long-term use.
If structural damage isn’t attended to, it can be enormously costly as the home can deteriorate or diminish. Before a tenant moves in, checking for structural damage can be effective in ensuring your investment maintains its quality. It is advised that the sooner you repair something, the better, as unexpected rental property costs can add up over time.