Home

Maintenance Tips to Help You Optimise Your Condo Investment for Maximum Returns

When it comes to investing in a property like a condo, you must be aware that there is a lot of work to be done. Aside from the cost of its purchase, you need to do preventive maintenance to ensure that the unit remains in tip-top condition. Maintenance is indeed a huge part of your property management tasks and one that should be high on your priority list. Whether you decide to rent out the unit or flip it, your investment can pay off in the long run.

Below are some of the tips that you should keep in mind when keeping your condo in good shape.

Perform Preventive Maintenance

Taking a preventive approach is the best way to manage your property and prevent any major problems. After all, it is more cost-efficient to fix issues as they appear instead of waiting for them to become major concerns. By this point, the cost of repair would already be too expensive and cause a dent on your profits.

The best way to do preventive maintenance is to keep a calendar. You have to schedule the work of checking your condo on a periodic basis, such as twice a month or once a quarter. It depends on how old or new the property is. The older the condo unit is, the more preventive maintenance should be done.

You can set a schedule to align with inspection days. This will ensure that any issues on your unit have been addressed by the time the inspection is performed. From sprinklers to electrical wiring–even the smallest oversight could lead to fines and penalties. You want to avoid that extra cost, so make sure you have done maintenance prior to the inspection of your property.

Perform Regular Cleaning

It might seem obvious, but cleaning your condominium unit can be something that is easily overlooked. This does not just refer to cleaning the unit itself, but also to looking after the components that you do not often see. When was the last time that you have cleaned your HVAC system, for example? Or your appliances like your oven, washing machine, or dryer?

condo
Condo as an investment

Sticking to a regular cleaning schedule for these fixtures is one way that you can keep them functional for longer. It is also an important step to ensure that there is no dust, dirt, or mildew that builds up in your condominium unit over time. Not only do you prevent the damage of these appliances or home systems when you regularly clean them, but you can also avoid potential fire hazards. 

Perform Pest Control

Pests like rats and cockroaches can impact the quality of life for those who live in your condo. Aside from that, they can also be a health hazard. Make sure you bring in pest control specialists to address this issue once they arise. Get a team at the soonest sign that these pests exist in your property. Do not wait until the problem is widespread before you do something about it, or else it will be more costly to address.

These pests can be a structural hazard. They can cause extensive damage to your walls, interiors, and electrical infrastructure. So, when you hear any pest complaints, make sure they are addressed in a prompt manner.

Conduct Testing of Various Systems

city condo living space
Condo as an investment

Just because you cannot see any signs of damage, it does not mean that there are no issues within your condo. It is recommended that you perform regular tests on your systems such as smoke alarms, fire extinguishers, and sprinklers. This is to ensure that they are functioning properly and in good condition when you need them.

It is important that safety equipment or systems (such as those mentioned above) are tested on a regular basis. The extra investment is well worth it because you can ensure the safety of the tenants. At the same time, it will help secure your property in the event of a fire or other damaging catastrophes.

Apply Sealants on a Regular Basis

The use of sealant is one of the most overlooked aspects of preventive maintenance on properties. Experts recommend that you re-apply sealants once every five years. You can use a sealant on the exterior paint or signs of window caulking on your condo. You should never let these components go unnoticed because it can lead to more internal damage in the long run.

If you use a sealant on the exterior paint or the windows, it will help you save on energy bills (and repair) in the future!

Set Aside a Maintenance Budget

When you invest in a property like a condominium unit, you must be prepared to shoulder the cost of its maintenance. This is an important investment if you want your tenants to be happy. And if you can keep your tenants happy, you can reduce the vacancy rate of your property. In the long run, if you decide to re-sell your condo, it will also enable you to set an ideal price for your property. If your condominium unit is well-maintained, you can leverage that when pricing your condo.

After all, potential buyers will be willing to pay a higher price for a well-maintained unit. Most buyers want to avoid the hassle of repairs. Most would also prefer a unit that is ready for moving in. By keeping your condominium unit in good shape with regular maintenance, you can leverage that advantage when selling your property.

It is also a good idea to conduct regular inspections. This will ensure that you can provide a certificate to your tenants and potential buyers about the quality and condition of the condo. 

If you are into investment properties and you would want to invest in a condo, see this. Use the information above to help you with maintaining your investment and protecting it for the future. 

 

*This is a collaborative post*

A Slice Of A Modern Paradise In Your House

Modernising is such a vague and often pretentious way of describing the act of improving something. At least, the attempt at improving something because modernising by definition means bringing something up to the present day. Present day standards are not always the best, so be careful how you go about doing such a thing.

Modernising the home is often seen in this light because hey, being contemporary automatically means you’re living in a better property right? Well, paradise is what you make it. Someone’s paradise might not be another person’s. Making a slice of paradise in your home should be approached in this manner, something that you would love. Not following trends, listening to your own indulgences and taking care to be authentic is the best way to evolve your house. Interior design is such a competitive world of ideas however, so choosing a certain kind of style for each room, the house overall or the garden will take much thought.

living room

You need a lounge

Unlike the living room, which is used for the majority of the activities you do in the home, the lounge is purely for relaxation. It will not allow any exceptions, it’s a very traditional space which has been designed for taking your mind off the stresses and worries of life. Start off with adding a classic Chaise lounge chair. This swept back chair is often described as the ‘psychiatrist chair’ because it’s used in many counselling and therapist clinics. You can easily see why, you can lean back on it, lie down on it and sit normal upright on it. The materials from which these chairs are made from are usually high-end. You’re looking at excellent leather that is rich in colour, has a quality finish and is quite heavy to withstand a long term of use.

Equally as important is the Ottoman. Ottomans are usually only seen in more classic homes because they aren’t cheap but they fill a void in your luxury desires. Easily one of the more obvious furniture types, it’s for resting your feet. Made from 100% Egyptian cotton, or high quality leather an Ottoman is a sturdy footrest which is essential to any lounge room. The modern variants are very varied. They can come in the usual four-legged style, a one block form, a central support leg or even a bubble shaped fabric style.

A little cutoff point

If you’re going to have a place of paradise in your home that is going to shut you off from the rest of the world, you have to cut yourself off from the rest of the house too. The home is part and parcel of the world, so it has to allow guests in and out, the kids will be running up and down the stairs and the sound of food being prepared and made is not very relaxing. So, instead you should pay to have a conservatory or garden house built. A conservatory can be more or less something that is partly attached to the house but with a door to close yourself off. However a garden house is an all-out project which is truly an opportunity to separate your paradise from everyday life.

If you can’t currently afford this kind of project, consider the UK’s leading direct lender for Guarantor loans which allows you to peg your plan onto another person. You can borrow up to £10,000 and have your friend or relative elect to be the guarantor. You will be the first point of paying the loan back, however if you cannot make the payments required in a timely fashion, the guarantor then picks up the bills. Essentially, the creditor has a double-backed security of two people instead of one. That makes this type of loan very easy to receive. Even if you have bad credit you’ll be accepted. Using this money you can now make your garden house. But what kind of style will it be? The Scandinavian style is incredibly popular because it’s simple, bright and doesn’t cost very much. The garden house takes on the form of a traditional guest house but it’s quite obviously in your own back garden. If you have a large garden or property space at the rear of your house you can move the location of the garden house further away from the house. This creates a nice little sanctuary of stillness and quiet from the rest of the house.

Relaxing on the patio

 For most people, the patio is unused space. It’s a hard surface area of the garden that is like a blank canvas born to be empty forever. Well, if you plan on making a paradise in your home it’s time to shrug off that mentality. The patio is very flexible, you can have fireplaces, furniture and grills all in the same space. Consider these kinds of skyline Rattan chairs which act like a half egg-shape protecting you from the elements but allowing your full view of the garden. The chairs are actually incorporated into the design, so the natural backrest is the egg-shape structure itself. Exotic leather is used, so the seats are supple and mouldable to your shape and size. 

Who says a paradise has to be bright and only enjoyed during the day? You can make the patio a place you come after a long night to relax and be among the stars. A fireplace would be an excellent addition to your garden. There’s nothing quite like a real fire burning and giving your it’s generous heat. The flick and dance of the flame is very relaxing to watch as well. Stone fireplaces are better than purely metal designs because there’s less noise from the expanding metal as the fire grows bigger and hotter.

A paradise in your own home is not a far fetched idea. It all depends on whether you have the funds to make yourself a garden house or conservatory. Both are rooms that are outside of the normal house and offer their own unique space to relax and unwind. However the patio is much the same in that it’s outside of the house and in the garden. 

 

Have you thought about carpet tiles?

Have you thought about carpet tiles for your home or business? I have to say it’s not something I have really thought about for my home, however I have seen them in many places.

carpet tiles in hotel lobby
Image: Carpet Tile Wholesale

Carpet squares are actually a really cheap alternative to having carpets. They come in a large range of colours and patterns. It’s also easy to lay, I think I could do it.

It only takes a few steps to get transform your space with carpet tiles.

  • prepare the floor, make sure it’s clean, smooth and level. It’s got to be dry.
  • Find the centre of your space and mark it out.
  • start laying your first carpet tiles along the line.
  • place your tiles along the line and then adjust where needed before:-
  • starting back in the middle and using spray adhesive to stick them down. Make sure you just spray either the floor or the tile.
  • lay the tiles from the middle out then cut the out tiles if needed to make sure they all fit perfectly.

So you don’t have to be an expert DIY’er to have fabulous carpet tiles.

 

*This is a collaborative post.*