Zeeland, MI Rental Property Water Damage

2/2/2022 (Permalink)

This damaged wall was caused by a pipe burst.

Instead of selling their home, many homeowners are transforming them into rental properties after relocating to a different city.  It is a great way to make some extra income, but managing a rental from miles away also comes with some challenges.  This out-of-town landlord learned the hard way after their tenants in Zeeland packed up and moved out without letting them know.  A pipe in the basement wall had burst leaving the landlord with a complete mess.  The following are some tips to overcome physical distance:

1. Choose Trustworthy Tenants - since you won't be able to get to your rental quickly, it's extremely important that you trust your tenants.  When renting to someone you don't know, make sure to thoroughly screen their rental history before allowing them to move in.  Make sure to have them complete a rental application, and contact their references.
2. Have a Handle on Maintenance - if you are renting a detached home, you may want to hire someone to regularly attend to yard work and keep walkways and the driveway clear in the winter.
3. Ask Someone to Check-In - since a house offers more privacy this can lead to more mischief.  Enlist someone you know in the area to be your eyes.  If there is a problem, this person can let you know immediately, and even act as your property manager and check-in if needed.
4. Make Friends With Repair Professionals - maintenance, repairs, and other complaints all come to the landlord, when you are out-of-town you have to find other ways of dealing with these situations.  A handyman, electrician, and plumber are good people to have in your contact list.  If there is ever an issue that needs to be fixed immediately, you can call on them to get the job done and bill you later.
5. Communicate Often - as a landlord, it is your responsibility to establish regular communication with your tenants via phone, email, or text and maintain the line of communication throughout their tenancy.  Provide them with various contact methods, as well as additional contacts, and ask the same from them in case of an emergency.
6. Get Insurance Coverage - the type and amount of insurance you need depends on the type of property you are renting.  There is insurance for hazards, flood, theft, equipment breakdowns, lost rental income, and liability insurance for damages.  Ask your tenant to get renters insurance to make sure their belongings are protected if a damage occurs.
7. Hire a Property Manager - managing a rental property from afar requires excellent time management, communication, and patience.  Attending to your property yourself can save you money, but it also costs you time.  Hiring a property management company to oversee your rental may increase overhead, but it can also be the right thing to do if you are not interested in dealing with tenants, managing the property directly, or do not have the time to invest in caring for the property yourself.

If your rental property has experienced water damage, call SERPVRO of Holland / West Ottawa County today, 616-396-8180.  We are Here to Help®