There’s nothing better than Springtime in Chicago. The weather gets warmer, flowers start to bloom, and people are outside ready to enjoy the sun. Spring is also the start of renting season. For rental property owners this means seasonal maintenance and building updates. To help owners maximize renting season, we’ve put together a Spring cleaning checklist that will help improve ROI for rental properties.
External Maintenance
Clear Debris:
Gutter and downspouts clogs are very common after fall and winter. Inspecting and clearing out gutter debris is a critical step to avoiding external building damage. This can be done with a garden hose or owners can contact their property management company to take care of any larger issues.
Boost Curb Appeal:
Spring season means warm weather, and warm weather means that people will be spending more time outside walking around. One of the easiest ways an owner can boost property return is through landscaping and creating curb appeal. This includes trimming trees, planting flowers, power washing the building, and creating an overall welcoming environment. Not only will the curb appeal attract new potential renters but it will also keep current residents happy.
Inspect Roofing:
Cold Chicago weather can cause shingles to loosen up, allow rain to seep into the foundation, and cause major problems. The cold also means animals are looking for spots to keep warm and the roof to a rental property is an easy target. This is why it’s important for property owners to have the roof inspected every spring. They should be on the lookout for water damage, loose shingles, and any potential access points for animals. This maintenance will also help prevent bugs and insects from nesting under the roof when they emerge with the warm weather.
Internal Maintenance
Building Updates:
Spring cleaning extends to more than just clearing out clutter. Properties that have common areas like a lobby, mail room, hall entrance, workout space etc., should be thoroughly inspected and considered for updates. Building updates are a great way for owners to improve property ROI and can be as simple as repainting or adding interior décor. When a space looks fresh and modern, it boosts property appeal, attracts new renters, and improves the building’s overall status. A more luxurious feel/look to a property provides owners the opportunity to adjust the cost of rent to match the new features.
HVAC & A/C Checks:
Air conditioning systems can be affected by the low winter temperatures. This can cause problems when residents decide it’s time to start up the A/C so a proactive approach is best. A/C maintenance includes things like checking panels, pipe insulation, outdoor coil, and filter replacement. Changing furnace and A/C filters ensures that residents are getting the most from the property’s HVAC systems and can prevent costly repairs in the future. These small but necessary maintenance tips will help maintain current tenant relationships and gives them the opportunity to leave positive feedback which can attract future tenants.
If you’re a home owner ready to sell, check out Pearson Realty Group’s tips for getting your home ready for the market. Click here to learn more 〉〉