Protect Your Investment!

When you own a property, your hope is that it will increase in value over the years.  This is true whether you live in it or use it as a rental.  It’s easier to maintain your own residence because you’re there every day and tend to notice the items that need attention, like a leaky sink or roof, a cracked window, peeling paint, etc.

But when that home is a rental, you have to make a concerted effort to get inside and take a look … for maintenance issues, and tenant cleanliness issues as well.

For my Indianapolis rental properties, I try to do apartment checks after we’ve had a good soaking rain.  Here are some things I always check:

  • Smoke alarms
  • Furnace filters (they should be changed every three months)
  • Ceilings (for leaks)
  • Under every sink (again, for leaks)
  • Floors around toilets and tubs (are they soft? If so, there’s a water leak somewhere)
  • All rooms for cleanliness

I do the same for all of the rentals I manage for other people.  It’s important that your tenants see your face from time to time.  When they know you care, they’re more likely to care!  And of course, there’s a clause in my lease allowing me to evict if they don’t maintain the property.

At some point down the road, whether it’s your own home or a rental, you’ll want to sell.  If you protect that investment now, your efforts will be rewarded in the end, when you plan your exit strategy.

Happy investing!   🙂

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