You likely became a landlord because you were hoping to make a little profit off of your investment property. This is a great idea, as long as you are prepared for the continuous upkeep that is required. When something goes wrong at your rental property, such as water damage Tampa landlords fear, it is usually up to you (the landlord) to fix it. And one issue that landlords have to deal with frequently is water damage.
According to iProperty Management, “The average home insurance claim costs around $10,000 and the insurance payout number for water damage in 2017 in the US was $13 billion.” As you can see, water damage can quickly become a major expense and a massive headache for landlords. That’s why it is important to take steps to prevent water damage from affecting your rental property.
1. Perform Annual Inspections
In order to maintain your rental property, it is critical to perform annual inspections. While you are performing these annual inspections, you should pay careful attention to the plumbing and plumbing fixtures, as well as all appliances that are connected to water lines (such as refrigerators, washers, and dishwashers). Have any leak repaired before the problem becomes much worse. Write in the inspections in your rental agreement, so it will be expected.
2. Check for Leaks
A common reason that landlords need water damage repair Tampa services is due to leaks. A leaky roof can be a major problem – especially during Tampa’s storm season. During your annual inspection, spend time checking your roof for any potential problems, such as leaks or cracks. Make sure to look closely at the chimney and roof vents. At the same time, inspect your attic for any leaks.
3. Clean the Gutters
The purpose of your property’s gutters is to divert water away from the home. If you do not have your gutters cleaned regularly, you are risking water damage. This is because as the gutters become clogged, they are no longer able to divert water away from the home. Have the gutters cleared of all debris, such as leaves and twigs, at least once a year.
4. Ask Tenants to Report Problems
Unfortunately, how much water damage occurs is often up to the tenant. For example, if the tenant does not tell you as soon as there is a leak or a suspicious ceiling water ring, then you will likely have a much bigger water damage emergency followed by mold. Instead, make sure your tenants feel comfortable contacting anytime they think there is a problem – even minor ones like a leaky faucet. And, by all means, when they tell you they think there is a problem, go check! You don’t want to hesitate when you are dealing with water damage or else you will wind up spending much more on repairs.
5. Keep Tenants Alert
Along the same lines, it is important for landlords to keep tenants informed. If there are any potential issues, such as hurricanes, flooding, or other pressing weather concerns, landlords should alert their tenants. It is important that you touch base with tenants and make sure they know where the water shut-off valve is and how to operate it. Not only will this help protect the property, but it’ll build the relationship between the tenant and landlord.
6. Look Over Your Insurance
Insurance is vital for landlords. However, you need to understand your insurance policies. For example, there is a big difference between what types of water damage is covered by traditional homeowner’s insurance and what is not covered. Generally, water damage caused by flooding is not covered. For flooding, you will need a separate flood insurance policy. If your rental property is in a flood zone, it is wise to get flood insurance.
Additionally, you want to encourage your tenant to get renters’ insurance. If they are at fault for water damage, such as overflowing a bathtub, their renter’s insurance may cover the damage rather than your insurance policy.
7. Know Your Responsibilities
According to Rent Prep, “A landlord is responsible for providing a habitable rental property, and by law this means there must be a working toilet, hot and cold running water and a tub or shower, among other necessities.” Therefore, the landlord is responsible for any repairs in the home due to water damage so that the home returns to a habitable condition as soon as possible.
However, the landlord is not responsible for any damage to the tenant’s property (such as furniture). The potential for flood damage Tampa tenants fear is one reason to invest in renter’s insurance.
8. Hire a Water Damage Restoration Service in Tampa FL
If you are a landlord in need of quick water damage restoration in Tampa, contact Dririte. Dririte is available day and night to help you address the water damage in your rental property as soon as possible. Using advanced structural drying and technology, Dririte’s restoration experts will quickly have your rental property back to its habitable condition.