June 28, 2022

Property Management Tips

RYPM

More often than not, prospective landlords will have to perform routine maintenance on their property in order to keep things up to spec. It doesn’t matter if you’re a natural handyman or an armchair onlooker - you’ll need to learn a few things in order to stay one step ahead of any issues that may arise, both legal and otherwise.

Thankfully, it’s easy to understand property maintenance, and how to implement it in order to stave off potential problems. This is advantageous both for the landlord, and the tenants living within a property. It also guarantees the safety of everyone involved, so make sure to follow along and learn the ins and outs of property maintenance as it pertains to the landlord side of the equation.


ADHERENCE TO BUILDING CODES

Landlords need to pay close and strict attention to regional building codes when renting out a property, and be in violation of none of them. Otherwise, massive problems can ensue, including legal issues that could spiral out of control in record time. Landlords need to guarantee the health and safety of their tenants when it comes to building codes, and failure to do so could reap a whirlwind.

It’s important to check for things like mold, asbestos and lead-based paint, all three of which are common in older properties. Further, landlords will want to be sure that an adequate number of smoke alarms and carbon monoxide detectors are present, that stairway railings are secure and safety guards are on all windows, and of course, that electrical wiring is up to code. That last one is a common factor in many house fires, which is the last thing a landlord wants to deal with. 

Less hazardous building code issues revolve around plumbing, lighting, and maximum people per unit, all of which need to be addressed and adhered to. When in doubt, landlords should always check the regional building codes to make sure they’re falling within guidelines. 


SECURITY

Next to building codes, security should be a top priority when it comes to ensuring the safety of tenants. One of the first things landlords should do is change the locks immediately upon the exit of a previous tenant. In fact, it is legal to do this in most jurisdictions, for obvious reasons. Once the basics have been battened down, landlords can provide extra incentive for tenants to rent by going above and beyond the call of duty when it comes to security.

This can include security cameras, motion-detecting lights and fencing/gates to provide more comfort, which is especially advantageous in urban areas where crime tends to tick up in comparison to quieter rural areas. Small details matter as well. For instance, tenants would feel a lot more secure with a deadbolt door, as opposed to a traditional lock. 



REGULAR MAINTENANCE

Preemptive property maintenance is one thing, but recurring and regular maintenance is another. Landlords will need to be sure that the property is operating at peak condition for the sake of their tenants, and that can include a lot of things that fly under most people’s radars.

The obvious things to watch out for are batteries in smoke and carbon monoxide detectors, as well as air filters for AC and HVAC systems. However, there are invisible hazards as well, including lint traps for laundry units, possible roof leaks and clogged eavestroughs, and the lawn and garden. In the wintertime, landlords can be held liable if walkways and driveways are not cleared of snow, and salted to banish ice buildup. All it takes is one nasty fall to trigger a lawsuit.

Many of these tasks can be delegated to the tenant upon contractual agreement, but it’s still wise to perform regular inspections on a property to make sure they are upholding their end of the deal. Monthly inspections are sometimes advised, but that’s not always feasible or logical. A six-month inspection schedule tends to be standard fare.


APPLIANCES AND UTILITIES

Most of the time, landlords will hear about a broken down washing machine or laundry unit via the tenant, in which case it would be time for a replacement. However, landlords should always make sure that appliances are working optimally at all times, and this can be checked during an inspection. It’s better to try and catch a potential problem before it destroys the appliance altogether, which is an unnecessary waste of cash.

Similarly, landlords should keep close tabs on utility bills if they include them as part of the rental contract. If energy costs start spiking inconsistently, it could be an issue with the property, rather than the habits of the tenant. For those tenants who pay their own utilities, landlords should tell them to report any unusual cost spikes and fluctuations, which may be a sign that something is wrong with the property itself. 


CONCLUSION

Being a landlord means keeping your eye on your property on a regular basis. Triple-A tenants are wonderful, but even the best can fail to spot potential property issues that may necessitate maintenance. It’s best for landlords to keep track of these issues by themselves, or utilize the services of a successful and experienced property management company.

Royal York Property Management specializes in making sure that properties run smoothly at all times. We eliminate a lot of the guesswork and maintenance out of renting a property, which is great news for busy landlords with a lot on the go. Contact us today to learn how we can help by managing every aspect of your property, top to bottom.