How to Maintain Rental Property

A rental property is a great way to supplement your income. You not only get the rental fees each month, you also get the equity that is building in your property. But being a landlord isn't easy. You're responsible for maintenance on each rental property you own.

Difficulty: Moderate

Instructions

1. Determine tenant responsibilities. Lawn mowing, snow removal and other small chores can easily be handled by the tenant. A list of their responsibilities should be clearly outlined in your lease agreement. If your tenants do not want to take part in this, they have the option of paying more rent each month to help you offset the cost.

2. Charge a cleaning fee when your tenants move out. This can be taken out of their deposit that they paid up front. With the cleaning fee, you can thoroughly clean the apartment, repaint and make minor changes.

3. Include repair costs in your lease agreement. This lets the tenant know up front what their cost will be if something breaks as a result of their error. And it also lets them know that you do hold them accountable while they live in your property.

4. Stay on top of typical home maintenance. Air filters and smoke detectors should be checked and changed out on a routine basis. When you do this, it's a good chance to go inside the property and look around.

5. Inspect the property and look for damage. As a landlord, you want to respect the privacy of your tenants. But you also need to make sure your property is being kept in good condition. If you notice anything that needs to be repaired, you can take action before it gets out of hand.