Do you own an investment property? If you do, there’s no doubt it takes a lot of your time, energy and resources. After all you’ve invested, you need to ensure that the rental is safe, secure, and well taken care of. A well maintained investment property will yield more profit for you.

In this article, we’ll explore some of the best tips to help keep your home and investment safe.

Install Security Systems

It’s essential to take security measures to protect your rental property. Not only does securing your property protect your tenants and rental home, but it also gives your property an added selling point.

People are more attracted to rental properties where safety is guaranteed. Install security features such as surveillance cameras and alarm systems.

Security systems can prevent burglaries, thefts and any other dangers your property might face. Security systems can also prevent tenants from damaging your property since tenants will be more careful with your property under surveillance.

Screen Tenants Thoroughly

Before renting your property to new tenants, you need to do a thorough background check on them. A proper tenant screening process will help you determine whether renters are trustworthy, able to pay rent on time and will treat your investment property with care.

You also need to be on clear terms of the lease with them. This will prevent future disagreements on certain conditions which might have not been clear.

Two tenants sit at a table and sign a lease as directed by the landlord in front of them.

For example, if you don’t want pets in your unit and the tenant comes with a pet that causes damage and disturbance to your neighbors, arguments might arise since you failed to inform your tenant that you have a no-pet policy.

The tenants you have will determine how your property will be viewed by potential prospects during property showings. Therefore, ensure that your tenants are responsible and handle your property with care.

Maintain Your Property

As a landlord, maintenance should always be a priority. Though maintaining your property might seem costly at first, it will save you a great deal in the future. We suggest scheduling regular property inspections and maintenance repairs.

Inspecting your property is a great way to catch small problems before they get out of hand and cost you more. If there are broken faucets and leaking taps for example, they need to be repaired before they get worse and cost you heavily. Left alone, leaky taps can create mold, which is very difficult to deal with.

Have an Insurance Plan

Before choosing an insurance plan, you need to thoroughly read the terms and policies. The best insurance cover is one that covers all eventualities and every aspect of damage that’s likely to occur.

A small toy wooden house sits on top of a document that reads 'insurance policy'.

You also need to have coverage for any major systems and appliances in your home. With coverage, if your property is damaged in any way, the insurance policy will cover the damages and reduce the high costs you would’ve had to pay.

Have Good Relations With Your Neighbors

Being on good terms with your neighbors can help you protect your property. As friends, they won’t allow any harm or damage to your property while you’re away. They’ll feel obliged to keep an eye out for you due to the good relationship you have with them.

Besides watching your property, they’re your first source of help when needed. If an emergency occurs on your property when you’re not around, they could be your first call for help.

Familiarize Yourself With Local and State Laws

Familiarizing yourself with local and state laws will help you protect your rental property and rental business long-term. Make sure you understand the Fair Housing Act and Landlord-Tenant laws in your area.

For example, Fair Housing laws protect tenants from being discriminated against and afford them an equal opportunity when seeking housing. Your tenant screening process needs to reflect that, while taking into account protected classes. If you have a no-pet policy for example, be aware that Fair housing laws don’t consider service animals to be pets.

Hire a Property Manager

If you find managing your investment property overwhelming, consider hiring an experienced property management company like NFI Property Management Solutions. Our experienced team can handle any property management issues your rental property might face, from tenant complaints to emergency repairs.

A smiling property manager in a blue button down and grey suit jacket shakes the hand of a landlord as they enter into partnership.

A property manager can also help you with important matters like regular maintenance and tenant screening. Hiring a property manager will relieve the stress of being a self-managing landlord so you can focus on building your investment portfolio.

In a Nutshell: Keeping Your Investment Property Safe

As a landlord, you need to make sure your investment home is safe. Prioritize security in your home, thoroughly screen tenants, request security deposits, perform regular maintenance, have a good insurance plan, maintain good relationships with your neighbors, and comply with local and state laws.

If all of these tasks are too much as a self-managing landlord, consider partnering with NFI Property Management Solutions. As a leading property manager in Pensacola, we’re prepared to help you keep your rental home safe and increase your return on investment.

Contact NFI Property Management Solutions today by dialing (850) 898-1230. We’ll be happy to answer any questions you might have about our services and offer one month of free management!