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How to Prepare your Investment Property for Summer – December 2022

How to Prepare your Investment Property for Summer – December 2022

Planning is the name of the game for landlords, and summer will be here before you know it. Here are a few things you can put on your list as you plan for 2023.  Regular maintenance not only prevents costly problems at your home, but it also keeps the area in good shape, allowing you to attract and retain quality renters. Continue reading to get an outline of what you need to do to get your property ready for summer.

Get smoke alarms tested

No matter where your property is located, there is undoubtedly legislation in your area that stipulates the property has working smoke alarms. The absence of functional smoke alarms endangers both your renter and your property. Make sure your property management arranges for an annual smoke alarm test if they haven’t already.

Clean gutters

It’s wildfire season in the summer. If your house is in a high-risk area, make sure to clear the gutters before the warmer weather arrives. Any accumulation of leaves, sticks, and other dry plants and debris can cause a fire and clog drains. You may ensure that your gutters are clean by having your property manager evaluate them during your tenant’s next routine inspection or by hiring a professional gutter cleaner. Whether you hire a professional or make cleaning the responsibility of the tenants, the gutters should be cleaned before the hot and dry days approach.

Tidy gardens and outdoor areas

The warmer weather is ideal for cleaning up your yards. Check that the mulch is new, that weeds are controlled, and that the sprinkler system (if applicable) is working. You should also inspect outdoor living areas to see if they require any maintenance or repairs before they are utilized more frequently throughout the summer.

Plan for next year

Many rental agreements end during the summer months. If you want your present renters to extend their lease, contact your property manager to set up a new tenancy agreement. This is also an excellent opportunity to check in with the renters and see if any repairs or maintenance are required. And, when it comes time to renew the lease, ensure sure the rate is competitive with comparable residences in your neighbourhood.

Go over the above list with your property manager to verify that everything is in working order at your property before the summer. A little time spent on odd jobs now can reduce the danger of more expensive problems later, and you can enjoy the holiday summer season with peace of mind knowing that your house is in good condition.

Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.