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Rental Properties Maintenance & Renovation


Under Real Estate

Written by

February 16th, 2022

Rental property maintenance is often a forgotten area of property management. Yet a little care goes a long way in keeping tenants happy and healthy, which in turn keeps you on track for monthly profits and improves your credit score. We have put together a list of 6 things you should do before embarking on a major renovation project.

Calculate the Square Footage Needed
Determining the square footage required for your renovation is the first step in planning your renovation. You can use the floor plan of your current space as a starting point, or you can measure each room on the blueprint. Use the room sizing formula for room dimensions, doorway widths, and hallways for accurate calculations. You also need to add a few extra feet for the door frame, counter space, and so on.

Take Care of Tenants During the Renovations
Tenants have a right to access amenities provided in the lease contract. Any inconveniences during renovations can lead to a breach of contract and hefty fines. The best way to do renovations is to have a planned vacancy during which the rentals will be unoccupied for the remodeling.
In cases where planned vacancy is not feasible, you need to be considerate and upfront with your tenants. Convene a meeting with them and communicate the areas that will be affected, renovation schedules, offer rent concessions for the inconvenience and be ready to pay for any damages.

Interview Multiple Contractors
Don’t hire just any contractor and hope for the best. You must get the right company with the best credentials and sufficient experience in renovations. Conduct your research and enlist potential candidates to perform the task. Go ahead and inquire what they can offer based on your budget and timelines. The interview will help you select a licensed company with appropriate insurance covers for their workers, property, and medical emergencies. You will also have a chance to discuss a payment schedule that works for you. Post inquiries select a contractor with the best credentials and deals to meet your needs. For instance, if you lived in a place like Atlanta, Georgia you would have to consider doing your research on Atlanta roofers to get the best service and prices that fit your budget.

Choose The Right Paint
Selecting the right paint is a crucial choice because it will have a big impact on the feel and function of the space. It is best to start with the main walls, which will get the most use. You can choose any color you like as long as it fits with the rest of the space. However, it is good to keep the main color scheme in mind when selecting paint.
There are two main types of paint you can use for walls: latex and oil. Latex paints are easy to apply, require little cleanup, and are best suited for smooth surfaces. Oil paints are thicker and require more preparation work, but they cover large areas. They are also more versatile because you can apply them to wood, metal, and other porous surfaces.

Secure Your Valuables
During renovations, it is highly likely that burglars will start stealing construction materials and other valuables. Deterring unwanted visitors is always a good idea, and new deadbolts or solid-core doors will go a long way in keeping your belongings safe. You can also invest in a security camera system to help keep an eye on your space when you are not around. When working on the interior of the building, make sure you close off any blind spots where a trespasser could hide. If you are renovating the entire unit, make sure you install new locks on all exterior doors so you can better secure your property.

Set Realistic Timelines
Planning out the time frame for the project is a key step for successful, timely completion. The aim is to help you stay on track, identify key milestones, avoid distractions, and plan. Bad weather is a major hindrance to work progress and may mean more time. Sometimes the workers get sick, or the wiring becomes exceedingly complicated. The time frame does not have to be too long, but it should be long enough that you have plenty of time to finish the project.

Conclusion
Rental renovations require adequate planning and sufficient research to ensure the successful completion of the projects. The above tips will guide you through what you need to do before embarking on the work.

6 Things You Should Do Before Renovating Your Rental by Sheryl Wright

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