Things that You Need To Upgrade or Replace in the Rental Property You Just Purchased
After purchasing a rental property, it may be a dilemma for you think about replacing the items or letting them run until they start expiring. Your reluctance will be totally understandable because you have already spent too much in buying the property. Now you are willing to wait for the upgrades or replacements until the cash starts flowing in.
If you really want to have some peace of mind while being a landlord, replacing or upgrading the necessary items is a recommendation for you.
Here is a description about some items that you need to replace or upgrade right after purchasing a rental property.
The reason for mentioning toilet first is that it is one of the most expensive replacements that you might need to make after purchasing a property. If the toilet is leaking, the water waste would be continuous unlike a leaking faucet or shower diverter, which cause the water waste only when you turn them on.
So, if you have figured out that toilet has not been leaking for long time, you may be able to fix it on very little expense. Remember, we not even talking about replacing the entire toilet. It’s just the plumbing work which may cost only a few bucks.
Replacing locks is one of the most important things that you need to ensure before letting your first tenant to move in. although, the locks may seem and work according to correct functionality parameters, the reason for changing is concerned with the security of the people living in the house or apartment. You never know if the people living in this property had some duplicate keys which they never submitted to the previous landlords.
Even if there are bulbs already installed in the property, it’s quite appropriate to replace them with the less energy consuming light bulbs. The best option is to install LED bulbs which can last up to 9 years. These bulbs are not different from the other conventional ones from the lighting perspective, but they tend to save you a lot of money.
Smoke alarms and fire extinguishers
Imagine the situation in which the home dwellers are unable to respond quickly when something big catches fire in the home. In that situation, the handy items that can quickly help the dwellers include fire extinguishers and fire alarms. They can instantly inform you or the security team using fire alarms, and use extinguishers to put off the fire.