How to Increase Safety in Your Residential Real Estate
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Loading... - Thalia Doukas
- 04 Nov 2022
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Residential real estate owners have a lot on their plates. Not only do you have to find and screen tenants, but you also have to ensure that your property is up to code and compliant with all city, state, and federal regulations. You also have to worry about safety—yours, your tenants, and your property.
There are many things you can do to increase safety in your rentals, but we’re going to focus on five key areas. You can go a long way toward keeping your tenants safe and decreasing your liability exposure with the help of the following tips.
Regular Maintenance and Repair
Not all owners try to keep up with the residential real estate’s maintenance. Some would only come after a tenant complains about a unit’s existing problem. As an owner, you have the legal obligation to maintain a habitable living space for your tenants. This means that you must make repairs on time when problems arise.
By keeping up with regular maintenance and repairs, you can help prevent accidents and injuries from happening in the first place. This also reduces your chances of facing a lawsuit if something does happen and a tenant gets injured.
Schedule regular property inspections so that you can identify and fix any potential safety hazards before they become a problem. Tell tenants that they should report any maintenance issues to you right away. Don’t forget to document everything! Doing so will help protect you if there’s ever a dispute.
Make sure that your property is up to code. This includes investing in working smoke and carbon monoxide detectors, adequate lighting in common areas, and well-maintained stairwells and railings.
Install Security Devices
Rarely do residential properties come with security devices installed. To increase safety, you should consider installing some basic security devices. This might include deadbolts on all exterior doors, window locks, and a security system.
If you decide to install a security system, invest in one monitored by a professional security company. This is primarily a great investment if you live far away from your rental property.
You can also consider investing in virtual security devices. This might include things like a video doorbell or an internet-connected security camera. These can help deter crime and give you extra peace of mind when you’re unable to be at the property. They can also increase your tenant’s confidence in your abilities to keep them safe and make your rental a more desirable place to live for future applicants. Read More...
