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Unexpected Rental Property Start-up Costs for Your Clearwater Investment Property

Pointing Out Potential Repairs and Renovations for Your Rental Property

Have you ever had unexpected rental property costs come up as you move a new tenant into one of your rental property locations in Clearwater? Being prepared for the several unexpected rental property costs that may turn up can help you make a better estimate in terms of move-in times and your budget. The following will explain the various things that we have found that may emerge when you are trying to kick-start your property investment:

Cleaning the Property

Cleaning can incur some large, unexpected rental property costs. You should put yourself in the renter’s shoes to arrive at a desirable option for cleaning expectations. Ask yourself if you would live in the property you are renting. Asking yourself this question can help you decide whether it would be a place that is clean enough for your own family to reside in. If renters move in and the home isn’t very clean, they might view the property owner and the property itself negatively. They might ask for certain things to be cleaned, or they might decide to never clean anything because they are treating the property the way they thought it was treated originally. This can be the cause of things like dirty or stained floors, pest problems, and more unexpected rental property costs.

There are two ways to ensure the property is cleaned before new tenants. You could hire an expensive cleaning service, or you could clean the property yourself. However, cleaning the property yourself can be timely and expensive because you must find the correct equipment and materials. Further, your time as a property owner in Clearwater could be better focused on other areas.

Home Assessments

Do a home assessment to make sure that the property is safe for new tenants. Mold can cause health issues and grow at a speed that quickly damages the home. This could mean unexpected rental property costs if the mold is not contained and taken care of. The best way to find mold is to look where it often grows—in areas of excessive moisture. Look at areas that have low air circulation and high humidity like dark spots or wet areas around leaking pipes and appliances. You could also hire a professional to do thermal imaging to find high moisture spots or to evaluate an air quality sample.

The best way to prevent mold in Clearwater is moisture control. Ask tenants to run the bathroom fan after they take a shower to ensure good ventilation, and make sure leaky faucets and pipes are quickly fixed. You can also ensure your gutters are cleaned out and the water drains are managed to look after the foundation. Fire hazards are another hazard you want to prevent.

Structural Damage Repairs

Structural damage is anything that can impact 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 stability of the home if they are sagging or slanting. Cracks in the foundations or wood, hard-to-open windows or doors, pipes, wires, insulation, and rust can all manifest that there is something that needs to be taken care of when looking to maintain your home for long-term use.

If structural damage isn’t handled, it can be tremendously costly as the home may rot or weaken. Before a tenant moves in, surveying for structural damage can be beneficial in ensuring your investment maintains its quality. The sooner you repair something, the better, as unexpected rental property costs can add up over time.

Want to learn more about the property management services in Clearwater offered by Real Property Management TradeWinds? Please contact us online or call us at 727-400-4722 for more information.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.

  1. Dennis says:

    Investors often don’t understand the importance of a clean residence and the costs needed to make a home rent ready. It’s a critical component in getting the best tenants.

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