Property Management 101

Durable Renovation Projects to Reduce Property Maintenance


Income properties are one of the best ways to ensure that you'll never have to worry about your financial situation. Not only do you give someone else a place to live, you get to own property that gains value over time and also enjoy the perk of receiving monthly payments in the form of rent that help pay off that property.

Unfortunately, maintenance is something that can ruin these perks. Driving out to a property for constant maintenance needs can be a drag that makes owning an income property feel less worthwhile: so these are the renovation changes you should consider!

 

Siding That Will Outlast Everything

Your siding should be capable of handling anything you throw at it. Unfortunately, old siding is one of the first things that will age a property and make it seem lower value while also allowing in moisture and insect life that can be expensive to correct and maintain.

Look into options like steel siding, which look amazing, can be painted whatever color you want, and last for an incredibly long time. Not only will this stop bugs and moisture from getting in, but it can also stop noise pollution and other issues that many find with properties.

 

Windows That Block Out Storms

The weather seems to be getting more difficult to predict than it ever has been before, and the change of a week can make the difference between a property that's been ravaged by a tornado and one that was in perfect condition.

To give your property the best chance against any weather, it's a good idea to put in windows that can handle anything. Storm windows are also a great selling point to possible renters or buyers since they can lower the home's monthly energy bills and block out noise pollution.

Look for windows that also have a great locking mechanism that will ensure tenants can keep the property as secure as possible.

 

A Roof Made for a Lifetime of Use

Your roof should be made to last as long as possible. Unfortunately, many lower-end roofs only last for twenty to forty years, which means you’ll have to deal with leaking and shingle issues far sooner than most would like to.

Instead, invest in slate roofing that can last over fifty years. This type of roofing is strong against heat, storms, wind, and anything else that comes its way. On top of this, it also looks fantastic on any property that has it.

Pay attention to the styles of roofs in your area, and avoid anything that's too clashy or stands out too much against the others. Although this may be a rental property right now, you want to ensure that when it's time to sell, it'll still be profitable.

 

Flood-Proof Gardens and Exteriors

Flood damage is one of the worst things any property can go through and is an expensive fix for anyone who lives in a home. To avoid flooding, make sure everything that's beyond your board and batten siding is built to drain water away from your home. This can mean channels going through your yard to divert water away or building a rain garden that can suck up as much moisture as possible.

Of course, a level lawn and a property built on higher-land are also both important, but these are changes that are more difficult to make after you’ve already purchased the home.

 

Exterior Doors With Pin-Entry

The classic key entry to properties has been something that every home has had for hundreds of years: but why settle for that? Tenants accidentally lock themselves out and lose keys constantly. On top of this, they may keep their key or accidentally leave a copy of their key with someone they can't trust.

Instead of dealing with that, consider putting in pin-entry locks on exterior doors.  Pin-entry ensures that they’re never locked out, that they can set whatever code they want for the property, and that your code will always have access. This is especially useful between tenants since you can quickly change the code to something new.

 

Flooring That Can Handle Anything

Although natural wood floors are always something people think they want: it's not the best flooring for a rental property. Instead, seek out floors that can handle a lot of scuffing, are strong against water damage, and won’t crack or break over time.

 

Vinyl and laminate flooring have both seen a huge change in their value and reliability in the last twenty years. Not only can they look as great as natural wood, but they can also stay fresh and new looking for over twenty years.

 

Your Income Property Shouldn’t be an Inconvenience.

Although this is still a form of income, and some work is expected, you shouldn’t have to drive out to a property every week to ensure it’s still profitable. Consider making some of these changes so that you never have to worry about maintenance anymore!

 

Ryan Shure is an editor for the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value. 

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