57 Ways To Prepare Your Salt Lake Rental Property for Winter: A Landlord’s Checklist

/by

Utah has been in the midst of a heat wave recently, but with temperatures about to change, it’s soon going to really feel like fall. That means it’s the ideal time to start preparing your rental property for colder weather. Here are 57 things you can do to get your investment home ready for winter.
57 Ways To Prepare Your Salt Lake Rental Property for Winter- A Landlord's Checklist
If this seems overwhelming, reach out to us to see why ASPM is a top rated rental management company in Salt Lake City.

Exterior Maintenance

1. Inspect the roof for damaged or missing shingles: Regular inspections help prevent leaks and damage from winter storms.
2. Clean gutters and downspouts: Clearing debris ensures proper drainage and prevents ice dams.
3. Trim tree branches away from the roof and power lines: Trimming reduces the risk of branches breaking and causing damage during winter storms.
4. Check for cracks in exterior walls and seal them: Sealing cracks prevents cold air and moisture from entering the home.
5. Add exterior wall insulation if needed: Improved insulation enhances energy efficiency and tenant comfort during winter.
6. Inspect and repair window and door frames: Ensuring frames are intact prevents drafts and heat loss.
7. Caulk around windows and doors: Proper caulking minimizes air leaks, improving energy efficiency.
8. Install storm windows and doors: These provide an additional barrier against cold winds and snow.
9. Drain and store outdoor hoses: This prevents freezing and cracking during cold weather.
10. Shut off outdoor water valves and insulate spigots: Protecting plumbing from freezing temperatures reduces the risk of burst pipes.
11. Drain sprinkler systems and outdoor fountains: Emptying these systems prevents freeze damage.
12. Clean and cover outdoor furniture: Protecting furniture extends its lifespan against harsh weather conditions.
13. Inspect chimney and clean if necessary: A clean chimney ensures safe fireplace operation during winter use.
14. Check exterior paint and touch up as needed: Maintaining paint protects surfaces from moisture damage.
15. Secure loose siding or trim: Repairing loose sections prevents further damage from wind or snow.

Yard and Landscaping

16. Trim the shrubs: Pruning helps prevent damage from heavy snow accumulation on branches.
17. Remove dead plants and debris from flower beds: Cleaning up encourages healthy soil conditions for spring growth.
18. Aerate and fertilize the lawn: This prepares the lawn for healthy growth when spring arrives.
19. Mulch garden beds for insulation: Mulching protects plant roots from extreme cold temperatures.
20. Wrap delicate plants and shrubs: Insulating vulnerable plants helps them survive harsh winter conditions.
21. Store outdoor planters: Proper storage protects planters from freezing temperatures.
22. Clean and store lawn equipment: Regular maintenance ensures equipment is ready for use in spring.
23. Prepare snow removal equipment: Ensuring shovels, salt, or snow blowers are in good condition allows for efficient snow management.

Plumbing and Pipes

24. Insulate exposed pipes: Insulation prevents freezing, reducing the risk of costly repairs due to bursts.
25. Check for leaks and repair as needed: Addressing leaks early helps prevent water damage during winter months.
26. Drain water heater to remove sediment: Regular maintenance improves efficiency, ensuring hot water availability when needed most.
27. Insulate hot water pipes: Insulating these pipes reduces heat loss, saving energy costs.

HVAC System

28. Schedule professional HVAC inspection and maintenance: Regular servicing keeps heating systems running efficiently through the cold months.
29. Replace furnace filters: Clean filters improve air quality while enhancing system efficiency.
30. Clean air ducts: Clearing ducts promotes better airflow, improving heating distribution throughout the property.
31. Test thermostat for accuracy: Ensuring accurate readings helps maintain consistent indoor temperatures.

Energy Efficiency

32. Add attic insulation if needed: Proper insulation minimizes heat loss through the roof, reducing heating bills significantly.
33. Seal air leaks around windows and doors: Addressing leaks improves energy efficiency by preventing drafts.
34. Install programmable thermostats: These devices allow tenants to manage heating schedules efficiently based on their routines.
35. Reverse ceiling fan direction: Running fans clockwise pushes warm air down, enhancing heating effectiveness without additional energy use.
36. Install insulating curtains or blinds: These window treatments help retain heat indoors while adding an aesthetic touch.

Safety Measures

37. Test smoke and carbon monoxide detectors: Regular checks ensure these devices function properly, protecting tenants from hazards.
38. Replace batteries in detectors: Fresh batteries guarantee continuous protection against fire or gas leaks throughout winter.
39. Check fire extinguishers: Ensure extinguishers are accessible, charged, and ready for emergencies that may arise in colder months.
40. Clear space around furnace: Maintaining clear areas around heaters prevents fire hazards while ensuring efficient operation.
41. Inspect electrical outlets and cords: Check for signs of wear or damage to prevent electrical fires during increased usage.

Interior Maintenance

42. Clean and inspect fireplace: Ensuring fireplaces are clean promotes safe usage during cozy winter evenings with tenants.
43. Check for drafts and add weatherstripping: Weatherstripping reduces drafts effectively while enhancing comfort levels indoors.
44. Inspect basement for moisture issues: Addressing moisture problems now prevents mold growth that can affect tenant health later on.
45. Clean dryer vents: Regular cleaning prevents lint buildup that poses fire risks associated with dryer usage during winter laundry days.
46. Lubricate door hinges and locks: Ensuring smooth operation of doors helps maintain security while preventing wear over time.

Tenant Communication

47. Provide winter maintenance instructions to tenants: Clear guidelines help tenants understand their responsibilities in maintaining the property during winter months.
48. Remind tenants about maintaining minimum heat levels: Encouraging tenants to keep their homes heated prevents frozen pipes that could lead to significant damage.
49. Inform tenants about snow removal responsibilities: Clarifying who manages snow removal helps avoid misunderstandings during heavy snowfall periods.
50. Provide emergency contact information: Ensuring tenants have access to emergency contacts fosters a sense of security during adverse weather events.

Emergency Preparedness

51. Create an emergency winter kit: Stocking essentials prepares everyone for unexpected situations during storms or power outages.
52. Stock up on ice melt and sand: Having these materials on hand facilitates safe walkways around the property during icy conditions.
53. Have a backup power source ready: Generators or battery packs provide peace of mind in case of power outages caused by severe weather conditions.
54. Know how to shut off water main in case of pipe burst: Familiarity with this process allows for quick action to minimize damage if a pipe freezes or bursts.

Professional Services

55. Arrange for gutter cleaning service: Hiring professionals ensures gutters remain clear of debris throughout winter months, preventing ice dams that can cause extensive damage later on.
56. Set up snow removal service if applicable: Having a reliable service ready ensures safe access around the property for tenants during heavy snowfall periods.
57. Schedule professional energy audit: An audit identifies areas where energy efficiency can be improved, benefiting both costs and tenant comfort.

We have seasonal maintenance checklists below:
Fall Rental Property Maintenance Checklist Salt Lake City Utah

 

Summer Maintenance Checklist for Landlords

 

Moving Out of Salt Lake City – Should You Rent or Sell?

Moving Out of Salt Lake City – Should You Rent or Sell?

/by

When you’re moving out of town or having trouble selling your home you face a common conundrum: should you rent it out, or sell it? Let’s look at this question and the pros and cons of each.

Building Long Term Wealth

If you want to build wealth over time holding onto your property is usually the better strategy. Here’s why:

  • Holding onto your property allows you to add value to your assets.
  • Renting out your home can help pay your mortgage and earn rental income.
  • Your property will likely increase in value over time.

Selling should only be considered when you need immediate cash flow. If you need quick access to funds selling your property can be a good solution. But for long term wealth creation holding onto your property and renting it out is usually the better option.

The Problem of DIY Property Management

Many homeowners are hesitant to be landlords because of the perceived headaches of dealing with tenants. If that’s your main concern there’s a solution: professional property management.

A property manager can:

Why Local Management Matters

Managing your property from afar can be tough and costly. Here’s why local management is key:

  • Maintenance issues need to be addressed immediately
  • Rent collection problems need to be solved quickly
  • An uninhabitable property or non-paying tenants can escalate your expenses fast

Hiring a property manager is usually more cost effective than trying to manage a property from afar. They can provide the local presence and expertise to keep your investment profitable.

Make Your Decision

Still unsure whether to sell or rent your home? Contact a professional for advice. At Advanced Solutions Property Management we’d be happy to help you weigh your options and make the best decision for your situation.

Every homeowner’s situation is different. What’s best for one person may not be best for another. By considering your long term financial goals and personal situation you can make an informed decision whether to rent or sell your Salt Lake City home.

How to Maximize Your Rental Property's ROI in Salt Lake City

How to Maximize Your Rental Property’s ROI in Salt Lake City

/by

If you’re a rental property owner here in Salt Lake City, there’s a good chance you’re interested in learning how to increase your return on investment. This means profitability for you, and also making sure that managing the properties is efficient and effective. In this guide, we’ll look at 6 strategies that you can implement to get the most out of your rental property’s profitability.

How to Maximize Your Rental Property's ROI in Salt Lake City

1. Hire a property manager

You might be thinking, “What a coincidence that a blog post on a property management company’s website is telling me to hire a property manager!”. Yes there’s definitely a reason why we put this point first on the list. There are a few reasons why we believe property management services can benefit your portfolio, including expertise in Salt Lake’s rental market, legal compliance, maintenance coordination and tenant screening.

Our experience managing rental homes can help you avoid mistakes that can eat into your profits, and ultimately make sure your property is efficient by reducing vacancy rates and increasing your rental income.

2. Screen your tenants carefully

It goes without saying that if you have low quality tenants in your property, it can impact your income stream and your property’s value. This is why it’s important to have a comprehensive tenant screening process that includes rental history, references, employment verification and a credit check.

Responsible tenants in your rental can reduce the risk of property damage, late payments and evictions, which all impact your return on investment.

3. Reduce tenant turnover

Reducing tenant turnover is a big factor in your ROI. Every time you have a tenant move out, you’re looking at cleaning costs, repairs and marketing the property to get new renters in. Plus if the property is sitting vacant, you’re losing out on rental income. Make sure you’re keeping good tenants in the property longer by responding to their maintenance needs quickly, and even offering incentives for longer term leases and renewals.

4. Adjust your rental rates

What are the market trends in Salt Lake, and should you be adjusting your rental rates accordingly? This should include reviewing comparable properties in the area to ensure your rates are competitive, and looking at broader economic factors like interest rates which can impact demand.

Of course you’ll want to be fair with your rental rates, but consider increasing rent when it’s justified by improvements to your property or overall market conditions.

5. Invest in property upgrades

You’d be surprised at how strategic updates to your property can attract better tenants and even justify higher rental rates. Improvements like updating the kitchen and bathroom, adding a washer and dryer, landscaping and energy efficient appliances can make your property more appealing and also lower maintenance costs.

6. Protect your asset with regular inspections

Start with an initial walk through. When you lease your property, document the condition of the property so you can hold the tenant accountable for keeping the property in that condition. Everybody is on the same page. Then we recommend enforcing the terms of the lease by conducting monthly drive-by inspections, spring and fall internal inspections, and an end-of-lease move out inspection. This is where we make any necessary deductions from the security deposit.

Interested in how Advanced Solutions can help protect your investment property and generate a positive ROI? Contact us for a free rental market analysis!

What is the Cost of Property Management in Salt Lake City

What is the Cost of PM in Salt Lake City?

/by

Many landlords wonder about the cost of hiring a professional property manager in the Salt Lake City area. Here’s what you need to know:

General Management Fees

Typically, property management costs will range between 8% and 10% of your monthly rental receipts. For example, if your property rents for $1,000 per month, you can expect to pay about $100 for property management services.

Leasing Fees

Some companies will charge an extra upfront fee for tenant placement, which is commonly known as a leasing fee. At Advanced Solutions Property Management (ASPM) we don’t charge leasing fees. We believe this approach aligns our interests with property owners, which ultimately ensures we place quality tenants.

We don’t think it’s fair for property owners to pay a fee for what could potentially be a bad tenant, only to evict them and pay another fee for a new tenant. Leasing fees seem counterproductive to us, so we don’t charge them to our clients.

The Value Proposition

As we always tell our owners, the cost of professional Salt Lake City property management will likely be far outweighed by the increase in income and decrease in vacancy over time.

Think of hiring a property manager for the same reasons you’d hire an accountant or a lawyer. They know the industry and can help you increase your overall income.

Instead of focusing only on the management fees, consider your bottom line and the potential returns on your investment.

Why Professional Investors Choose Property Managers

Professional real estate investors rarely manage their own properties. They entrust them to property managers because they understand how this can increase their rental income and return on investment.

It’s about leveraging industry expertise for better results.

Remember, the goal is to improve your financial outcome, not just minimizing your costs. We believe hiring a property manager in Salt Lake can pay for itself through better tenant selection, market knowledge, and making the operation more efficient.

If you have any questions about our fee structure, or how we can help maximize your rental property’s potential, please contact us at Advanced Solutions Property Management.

 

How Much Should I Budget For Maintenance On A Rental Property?

How Much Should I Budget For Maintenance On A Rental Property?

/by

What are typical maintenance costs with property rentals? When owners ask what they should expect, we recommend budgeting between 5 and 10% of annual rental income for maintenance.

This covers both unscheduled and scheduled maintenance.

Property Age

Newer properties naturally require less maintenance, resulting in lower expenses. Older properties however are likely to need more frequent repairs.

Scheduled Maintenance

It’s critical to prioritize preventative maintenance. This means not postponing regularly scheduled upkeep of the property, like changing out the air filters, repainting walls when necessary, and making sure all systems are serviced annually.

This is particularly important for major systems like HVAC and plumbing, which is where the highest repair costs can occur.

Keeping these systems in good condition will save you money in the long run, and neglecting maintenance can lead to larger, more expensive problems over time.

You’ll also have a harder time renting the property, creating a snowball effect.

Vendor Relationships

Rental property managers in Salt Lake have access to reliable maintenance personnel, and highly qualified, trustworthy vendors.

This network of dependable professionals is a valuable resource for property owners, and it’s a good idea to have this pool of people that you can rely on to do good work.

They’ll give you an honest estimate, and provide quality work for your property and tenants. It’s a significant advantage of hiring a property management firm.

When managing a property yourself, contractors often come and go, but property managers develop long term relationships with vendors, and this ends up benefiting you and your property.

Property managers will have access to reliable maintenance personnel and highly qualified vendors they can trust. It’s a huge resource to have this pool of people that you can rely on to do good work at your property. They will give you an honest estimate and provide excellent work. This is a great example of why you should use a professional property manager. When you’re managing your own property, the contractors you use often come and go. Property managers develop relationships and that ends up benefitting you and your property.

If you have any questions about maintenance on your property, or how to prepare for the associated costs, please contact us at Advanced Solutions Property Management. We’re here to help!

How Much Can I Rent My House For?

How Much Can I Rent My House For?

/by

Today, we’re discussing rent levels and what you can expect to get for your rental property in Salt Lake City. This information is crucial for investors and owners to have before they buy a property or list it on the rental market.

Rental prices are influenced by location

Rental prices, like any other real estate or commercial business, are heavily influenced by location. When a property owner asks me how much they can charge for rent, the first question I ask is about the property’s location. It has a huge impact on how you price your rental.

Rental prices are dependent on the property’s size

Next, your price will depend on the number of bedrooms you have. The number of bathrooms is also important, but tenants primarily look for enough bedrooms to fit their families. Square footage and bedroom count are almost as important as location.

The condition of the property affects how much rent you can charge

Finally, the condition of the property affects how much you can charge in rent. Tenants look for clean, functional kitchens and expect to see some updates. As a house ages, it incurs wear and tear, which can drive your rent down. Many owners are reluctant to spend money on updates and improvements, but it’s worth it in the long term. A house that looks worn and old will rent for much less than a modern, clean one. If you don’t upgrade from time to time, you’ll lose rental income.

Take a look at what your neighbors are charging for rent. If you’re getting less than they are for a property of the same size and in the same location, it’s likely due to the home’s condition, and you should consider investing in some improvements.

If you want to discuss what you can expect for your particular property, please contact us! We are a Salt Lake City property management company, and would be happy to provide more information about current rent levels in your area.