As a Madison rental property owner, one of the best things you can do to make certain your real estate investments are profitable is to make them as low-maintenance as possible. There are countless low cost and efficient practices to create a low-maintenance rental property. If you find that you are spending too much time and money on property maintenance, these schemes may help.
The initial step to owning a low-maintenance rental is to ensure that you select the appropriate materials for your property. Low maintenance is not the same as low quality. Many quality materials are more durable and easier to keep clean than the cheaper, low-grade kind. Flooring is one area where this is particularly true. For low-maintenance floors that will keep their appeal for many years, savvy property owners often choose tile or vinyl. Tile and vinyl both work well in kitchens, bathrooms, hallways, and other high-traffic areas. And both are easy to keep clean.
Countertops are a new area where the right materials can make a big difference. To get the best value that is easy to clean and won’t fade or peel over time, rental property owners often choose quality solid surface countertops for their kitchen and bathrooms. There are many cheap types of solid surface countertops, offering a huge range of colors and styles. You can even get the look of more expensive granite without the price or worry that your tenants will damage the natural stone with harsh cleaners. For countertops and flooring, it’s best to aim for mid-grade materials that will offer durability and value.
Another great strategy to minimize maintenance in your rental’s interiors is to paint the walls with a good quality semi-gloss paint. Unlike flat paint, which can be difficult to clean and may stain easily, semi-gloss or even gloss paints have a tendency to hold up better to heavy wear. Consider using glossy paint in the kitchen to make those walls stain-resistant. You may even consider adding a backsplash behind appliances and counters. A backsplash is even easier to clean than a painted wall and will reduce the amount of re-painting you’ll need to do between tenants.
As you’re plotting your renovations, don’t forget about low-maintenance lighting options. Pendant lights and chandeliers may look lovely, but they tend to collect dust and bugs over time and are easily damaged. To lessen maintenance, opt instead for good quality, functional lighting that is mounted securely against the ceiling. It’s also a good idea to want light fixtures that make it easy for your tenants to change light bulbs when needed. Consider upgrading your electrical outlets to include plug-ins for cell phones and other electronic devices for an added selling point. This will not only lure more tenants but can help prevent problems like blown fuses.
Lastly, one of the best ways to create and own a low-maintenance rental is to have a comprehensive maintenance plan in place. Your maintenance plan should include both interior and exterior maintenance tasks, as well as a schedule of when each task should be completed. Carrying out routine maintenance every month is essential to preventing expensive emergency repairs and keeping your rental as low-maintenance as possible.
Looking for assistance in making your rental investment more low-maintenance and profitable? Contact Real Property Management Greater Madison Metro at 608-310-1290 to speak with a Madison property manager today.
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