In last month’s BLOG we advised that purchasing and owning investment properties is not the end of the equation. Whether you manage your properties or employ the reputable property management of someone like Carod Properties, there is still work to do to make sure you are protecting your investment. Many investors become disconnected, especially if they’ve hired others to oversee the day to day details. However, there are ongoing tasks that, even if you are not personally tasked with doing them, you need to realize their importance and follow-up on these maintenance tasks.
If you ask tenants their top 5 issues with a property that would be grounds to vacate, bugs would be on just about everyone’s list. There are several reasons besides the “ick” factor. People have allergies, fears, and consider it a hygiene issue; and rightly so. An issue like pests, that directly impact a tenant’s quality of living, have to remain foremost in your mind as a priority. Any issue that affects maintaining occupancy are vital to protecting your investment.
Here are tips regarding pest control, your investment, and your obligation:
- Have the property assessed for potential pest problems. Some areas, geographically, are more susceptible to some pests more than others. Then, your property structure may have issues that need to be addressed that promotes infestation; this can be determined during a proper inspection.
- Have a stated policy of routine pest control in place that is not only known to the property managers but the tenants. Everyone involved should know when and how pest issues can and will be addressed.
- Provide tips to tenants, initially and annually, about how to avoid infestations. Never assume that your residents or potential residents know what to avoid when it comes to pest control.
- Make routine structure inspection a part of your pest control routine. Problems can arise after the initial inspection—from tenant neglect or just one of the many things that can/will go wrong—so, it is prudent to incorporate inspections of your property’s structure to identify potential and established points of entry by unwelcomed pests.
If you’re not seeing the importance of pest control in how to protect your investment, think of a more tangible scenario. Your family car is a daily factor in your lives, so it might resonate better for you. You do research on the car you want to purchase. It is, after all, a major investment. Your spouse drives it. She is responsible and capable. Now, do you never check to make sure your investment, left in her capable hands, is ever tuned up or has its oil changed? Of course not! Your investment properties should be treated no differently.
You need to stay tuned in. Either handle tasks such as pest control and routine maintenance, or not only make sure you hire a property manager to do these things but make sure they are doing them. It is your investment. Protect it!
