Winter To-Do’s for Rental Property Owners

Winter is a time of family gatherings, time off work, gift-giving, and hopefully a good deal of cheer.

Unfortunately, winter is also the season that is hardest on your property.

Any problems that have been festering over the last year have a tendency to rear their ugly heads in winter. It’s the season of clogged gutters, frozen pipes, and broken heaters. If you have buy and hold real estate, follow this list of winter to-dos to help ensure that your tenants remain happy and safe and that your property retains its value through the harsh months of winter.

1. Check the pipes.

Plumbing problems are among the most expensive fixes, and problems with your pipes are notorious during the winter. The drop in temperature can cause pipes to freeze, which can cause them to burst when suddenly put into use. An easy way to help keep your property’s pipes from freezing is by making sure that any exposed pipes are properly covered. Cladding your pipes won’t take much money or time – you can do it without a contractor’s help – and it can prevent flooding and other costly water damage. You should also instruct your tenants to leave the heat on at a low level if they go on a winter vacation to help prevent frozen pipes.

2. Insulate your home.

Yes, insulation can be expensive and a true hassle to install, but it can also save you a lot of money down the line in heating and cooling costs. Plus, there are a number of grants and interest-free loans available for property owners who are looking to install insulation.

3. Take the opportunity to service the boiler and heater.

A boiler that isn’t working as efficiently as it should can cost you big, and if it breaks over the winter, you’ll have a major head ache on your hands. The same goes for the heater. Better to implement minor fixes when needed than be forced to invest in a replacement when the whole thing breaks down.

4. Make sure your tenants are well-informed.

Even smart people do really dumb things sometimes. Make sure your tenants have proper instructions for lighting their pilot light, or offer to light it for them. Give them a packet with information about the safe use of space heaters, electric blankets, and other potentially dangerous heating devices. And make sure they understand why it’s not a good idea to heat the house with the oven. A little friendly advice could keep your tenants from accidentally burning down your home.

5. If your property is vacant, check on it regularly.

If you’re at a point in your rental real estate investing cycle where your property is vacant, make sure to stop by and check on it on a regular basis. Open the windows for a while to let it air out, and make sure the pipes haven’t frozen. Clear the gutters to keep water from accumulating and freezing, which could seriously damage your roof.