As a multi-unit rental property owner, you have ownership of an asset that can bring you cash flow each month and build equity as its value increases and your mortgage is paid down. However, as a rental property owner, you don't want to forget to put money back into the property in the form of repairs, maintenance, and regular upkeep. Without this, your property will begin to be run-down and not have the value and quality that your current tenants want to be around. Here are some essential tasks you need to manage as a rental property owner to keep your property's condition, value, and quality in great standing and maintain it as a property that your tenants will want to live in.
Complete Roof Repairs
The roof of your rental property is constantly under attack from wind, rain, the sun's UV rays, and other outside threats, so its lifespan is not going to be forever. Take into consideration the type of roof on your rental property so you can plan for when it will need to be replaced, then watch for signs on your roof of damage and age. A professional roofing contractor can inspect your roof at any time to look for signs of age and damage, as it can be difficult to determine its condition just from a visual inspection from the ground.
When it is time to replace your roof, arrange for a roofing professional to remove the old shingles and install new ones. Removing the old shingles is recommended so your roofer can get a good look at the condition of the roof below its shingles and find any moisture damage or dry rot, which can exist in the roofing deck and attic rafters.
Let your tenants know when the work will be completed so they will be aware of the work and the roofers present on the property. And if your apartment building has any antennas or satellite dishes installed over the shingles, for example, you should have them removed before the roofing work begins. Any internet or television satellite service provider should be able to have the equipment removed and reinstalled properly when the work is completed.
Manage Pest Control
Pest control on your property is an important consideration because it will affect your tenants and your personal finances with the property. If your property gets overrun with a pest, such as cockroaches, for example, you may lose great tenants that choose to move out. And you will have to repair any cockroach damage to the property and pay for it out of your own pocket. A multi-unit property is especially at risk of pests traveling from one apartment to the next.
A good maintenance strategy on your multi-unit property is to arrange for regular pest control and inspection, such as every six months or once a year. Your tenants will appreciate the maintenance to prevent pest problems and it will provide value to your property.
For more information about apartment building roofing, contact a roofing contractor.Share