How to Ensure That Your Investment Properties Can Weather Any StormIn the aftermath of hurricane Matthew, there are many homeowners and real estate investors alike who are currently assessing their damages. Large – and even sometimes, small – repairs and replacements can lead to big financial issues following this type of disaster.

But there doesn’t have to be a major hurricane for your rental properties to sustain harm. In fact oftentimes, even the day-to-day, normal wear and tear on a property can eventually lead to breakage and / or the need for new systems, fixtures, and overall home maintenance work.

The good news is, though, that there are ways that you can protect yourself from costly property issues. And, even though it may require some time and / or money up front, it can save you a substantial amount going forward.

Some of the top ways in which landlords can protect themselves include:

  • Being properly insured. Waiting until you have sustained a loss isn’t the best time to evaluate whether or not you have the right insurance coverage. As a landlord, be sure that you have enough insurance to cover damages that may be sustained inside and out. This also includes making sure that you have liability coverage in case of any potential property-related lawsuits.
  • Taking steps to prevent loss and injury. Taking steps to prevent loss, as well as possible injury, can also be beneficial. For example, this can entail making sure that your property is safe from certain hazards. It can also require you fixing problems immediately as they occur, as well as regularly inspecting the property yourself and / or with a professional inspector for various dangers that could occur.

Managing, inspecting, and fixing property related issues can be time consuming – especially if you could make better use of your time doing other things. In this case, hiring a good, competent property manager can be an ideal option.

This can allow you to step away from the front line issues such as fixing leaky toilets and nailing down loose shingles, and instead receive the financial rewards of owning investment real estate. For more information on the many advantages of working with a property manager, Contact Us.