As winter dies down and flowers bloom, property owners are looking forward to saving a little money on their tenant heating bills. However, savvy landlords know there are other ways to save some cash. Property investments are a great way to make money, but they can cost you a lot if you don’t leverage all aspects of their upkeep. Check out these spring saving tips.
Whether you know enough maintenance to do a check-up yourself or you hire a professional, doing a spring inspection of the property can help you take care of any issues that winter brought before they get worse. A preventive checkup is much less expensive than having to pay for a huge maintenance issue later. Examine water heaters, plumbing, and HVAC units. If there are tenants, ask about issues they may be experiencing.
If you haven’t already installed a landlord thermostat, spring is a great time to do so. The changing temperatures of spring can cause tenants to manipulate the thermostat, sometimes causing big temperature shifts because they don’t understand that turning the temps way up won’t make the property warmer faster. A controlled thermostat prevents you from having to spend extra money for them revving up the system, causing it to overwork.
One of the easiest ways to protect your property is to rent to people who will do the same. While you can’t prepare for every eventuality or be sure of every possible tenant, a stringent screening process is one of the best ways to protect your money and your investment.
Saving money and protecting your investment go hand-in-hand – and it’s not hard to do when you invest in tools that help you save money this spring and beyond.