6 Simple Ways to Add Value to Your Rentals During Quarantine

6 Simple Ways to Add Value to Your Rentals During Quarantine

2 min read
felipe mejia

Felipe Mejia is a real estate investor and co-host of the Real Estate Rookie Podcast. His primary investments are single-family homes, of which he currently owns eight. Felipe is passionate about building wealth and enjoys spending time helping individuals navigate the process of acquiring their first investment properties.

Experience
Felipe has been actively engaged in real estate investing for four years. However, he unknowingly “house hacked” his way through college while attending Tennessee Tech University. This ultimately was the gateway into his real estate journey.

After obtaining his bachelor’s degree in Criminal Justice, Felipe realized that a career in law enforcement was not in the cards for him. He started a moving labor company and realized just how hot the Nashville real estate market was. This piqued his interest in investing and led him to BiggerPockets.

While Felipe has owned mobile homes, a multi-unit complex, and a condo, his current investment strategy is unique in that he usually buys a certain style of house that allows him to double the amount of living space. He then rents by the room. It is certainly not a traditional approach but has proven to be quite successful for him.

Press
Listen to Felipe explain more about his strategy on episode 329 of the BiggerPockets Podcast. He has also shared his experience and story on The Best Real Estate Investing Advice Ever, The Wealthy Neighbors Show, Pura Cultura Podcast, and The Daily Real Estate Investor.

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I’ve been getting a lot of questions about what I’m doing during this quarantine time—what I’m doing to my rental properties and how I’m adapting to the situation as it is today. I want to talk to you about how I’m adding value to my properties while the world’s essentially on pause.

Little Things That Make a Big Difference

Some of the things I’m doing to my properties to add value while I’m quarantined are those little simple items that it seems like you don’t ever get to as a landlord or homeowner.

1. Clean the Gutters

For example, I’m cleaning out all my gutters at all the properties. It’s a very simple thing to do and a very simple action that needs to be taken so you don’t have water damage.

Go clean your gutters on all your properties. Be resourceful. Make sure that the downpipes are not causing water damage to the property. Go to one of the downspouts and make sure that it’s clear and that it’s running away from the foundation.

Related: 3 Key Ways to Become a Better Real Estate Investor While Quarantined

2. Small Plumbing Fixes

Another thing that I’m doing with some of the older toilets at my properties is making sure they work completely and changing out the wax ring beneath the toilet to make sure there’s no leakage. It’s literally a $2 wax ring, and now it basically feels like a new toilet because all the water is running smoothly.

3. Change Air Filters

Another thing that I’m doing is I’m ensuring that I’m changing all the air filters in my properties. Doing so ensures that my air conditioning and my heat is going to be running properly for years to come.

man on ladder installing air conditioning unit in ceiling opening

4. Check for Leaks

One other thing I’m doing is what I call a 42-point inspection for leakage. I go to my kitchen sink, I go to my bathroom, I go to the tub, I go to the faucets outside—I go to every point that lets out water in the house—and I’m making sure that there’s not leakage anywhere.

That’s really important and very simple.

Related: 12 Influential Investors Weigh in on How to Survive the Coronavirus Crisis

5. Do a Visual Inspection

Another thing that I’m doing is I’m making sure that there’s nothing too close to the property to cause damage—trees, limbs, anything that could hurt the foundation. And this is just a visual inspection. I don’t have to do anything crazy—it’s just another thing that I’m doing to make sure that the property keeps its value.

6. Check All the Windows

Here’s another one—I check all the windows for air coming in or going out. You don’t want to lose any heat or any air. If it’s cold or hot, you want to make sure that there’s no air leakage.

You don’t want your air conditioning to be going out of the windows, so check all of them. I’ll give you a really simple trick: Get a piece of paper, close the window, and go around the edge of the window with the paper. If you feel any breeze coming in or out, then you’ve got a little problem there. And it’s an easy, simple fix to make sure that my properties are working as efficiently as possible.

There are hundreds and hundreds of these little tips and tricks that you can find all over the internet. I’ve just named a couple.

Hope you’re staying safe and making the most of your quarantine! Be well.

How are you adding value to your rentals during quarantine?

Join the conversation in the comments below!