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.

If you own a rental property in Salt Lake City, we can’t stress enough how crucial it is to inspect your investment. With regular inspections, you can help maintain the value of your investment property and make sure your tenants are happy too.

There are a few different types of inspections, and in this post we’ll explain how you can identify and address potential problems before they grow into costly repairs or even legal disputes. Plus we’ll discuss how a professional property management company in Salt Lake can help streamline the entire process.

What are the different types of rental property inspections?

Move-in inspection: Before a tenant moves in, you’ll want to document your property’s condition and make a note of any existing damage.

Drive-by inspection: This is where you (or someone from your team) will literally drive by the property to identify any potential issues like unauthorized pets or occupants. A drive-by inspection won’t need advanced notification to the tenant, since nobody is entering the property.

Indoor inspection: To make sure tenants are maintaining the property and identify any repairs or replacements needed, you can schedule a quarterly, semi-annual or annual inspection of the property. This is also an opportunity to change the air filter on the property’s HVAC unit.

Move-out inspection: This should take place after a tenant vacates the property. You’ll want to assess the entire property’s condition, and then make the necessary deductions from the security deposit for any damages that occurred beyond normal wear and tear.

What are the benefits of regular rental property inspections?

Working with rental properties in Salt Lake over the years, we’ve identified some advantages for property owners:

Prevent costly repairs: If you can identify and address a maintenance issue early on, this can typically prevent the problem from turning into an expensive repair down the road.

Enhance curb appeal and keep tenants happy: It’s no surprise that a well-maintained property will attract the type of tenants you want, and keep them around longer. This reduces vacancy rates and turnover costs. Plus you could see more positive Google reviews.

Lease compliance: Regular inspections will help ensure tenants are keeping to the terms of their lease, whether it’s occupancy limits, pet policies or specific maintenance items.

Protect your investment: Of course you want to maintain and grow your property’s value, and regular inspections will help you make informed decisions about any necessary repairs or improvements.

How can rental property inspections help with difficult tenants?

It’s inevitable that despite the best efforts of rental property owners, difficult tenants will prove to be challenging. This is why we recommend having a strong and clear lease which will help address these infractions that are discovered during your inspections.

Whether it’s a late payment, or a lease violation, make sure to keep all interactions with the tenant professional and well documented. An expert rental property management company can help you with these challenging situations, and make sure everything is compliant with laws and regulations in Utah.

Seasonal maintenance checklists for Salt Lake rental property owners

Beyond those regular inspections that we talked about in this blog post, you should have seasonal maintenance performed on the property to keep it in the best condition. Check out our Summer Maintenance Checklist and Fall Maintenance Checklist for Salt Lake Rental Homes.

Why should I hire a company to manage my Salt Lake City rental property?

There are some distinct advantages to partnering with a reputable property management company in Salt Lake City like Advanced Solutions. First, we strictly adhere to proven procedures and processes to make sure we efficiently manage your property. That means on-time rent payments, better screening methods, an affordable and dependable in-house maintenance crew, and clear communication.

ASPM is experienced in landlord responsibilities and tenant rights, which ensures that all inspections comply with local regulations and laws. You can trust your property to Advanced Solutions Property Management, and have peace of mind knowing your investment is in the right hands.

“ASPM increased Net Operating Income (NOI) on the property by 13% in less than a year — AMAZING!”
– Lee G.

If you’re a property owner, let’s chat!

The Fall season in Salt Lake is here, and as a landlord the fall months are a great time to take stock of your rental property. It’s also a good time of year to plan for upcoming winter weather and potential maintenance issues that might arise during the next few months.

1. Prepare for the cold

Preparing for the colder seasons is an important part of your fall maintenance checklist. It’s also one of the most overlooked, but it can be quite costly if you don’t take care of things now.

Prevent pipes from freezing: Pipes are at their weakest if they freeze, so it’s important to prepare a few months ahead of time by wrapping them with foam pipe insulation or heat tape (if you’re using a hot water heat system).

Insulate exposed pipes: You should also insulate any exposed pipes in case they aren’t already insulated by the floors above them. If necessary, consider adding additional layers of protection like pipe wrap or heat tape around these vulnerable areas. Make sure HVAC systems are working properly: You’ll want to check that your HVAC systems are running efficiently before winter arrives because this will help keep heating costs down as much as possible during those cold months.

2. Protect your HVAC system

The last thing you want is for your HVAC system to fail in the middle of a cold winter. Make sure that it’s in good shape by checking and cleaning the filter every month, inspecting for damage, keeping the area around the unit free of debris (if there’s water pooled up anywhere near it, that can damage the unit), and checking for leaks.

3. Winterize your windows and doors

To ensure that your rentals are weather-tight and cosy, you should make sure that all windows and doors are insulated. Check for drafts around windows, at the base of doors, and anywhere else where there’s a gap between the door or window frame and the wall. If a draft is present, you can use caulk to seal it off; otherwise, consider installing weather stripping to keep out cold air in winter and hot air in summer. This can be done easily with a heat gun (useful for shrinking metal).

4. Inspect your roof for damage

As you walk along your property, take a look at the roof. If there are any missing shingles or signs of wear and tear, it’s important to have these repaired as soon as possible so that they don’t cause further damage to the structure or its inhabitants. If you see water damage on any part of your roof, call an experienced roofer immediately because this can lead to mold growth in other areas of the house.

5. Take care of your gutters and downspouts

Gutters are an important part of your home, because they catch water runoff from rain and snow. If these areas aren’t maintained regularly, it can cause issues later on by causing leaks in the ceiling or wall. To prevent this from happening, you’ll want to make sure that your gutters are clean every year before wintertime comes around again.

Downspouts should also be cleaned out regularly as well because they channel rainwater into pipes that lead away from your house. If there’s debris caught inside such as leaves or pine needles then this could clog up drainage pipes which will lead to flooding problems inside your home during storms when it rains heavily outside

6. Seal your open crawl spaces and attic

As the temperatures drop and winter approaches, you should make sure that your rental properties have been properly insulated. If there are any open crawl spaces or attics, they must be sealed with insulation to prevent moisture buildup and costly repairs. If your rental property has an attic, use a vapor barrier between the top of the space and its ceiling in order to prevent moisture from getting into any wood structures within it.

7. Inspect your landscaping

With the leaves falling, you may not feel like your yard is quite as green anymore. But if you have any dead or dying plants left in your landscaping, now is a good time to get rid of them. They won’t look great during the winter months, and can be unsightly to potential renters during springtime.

If you live in an area that gets snow and ice, make sure to keep an eye on your shrubs and trees as well—they’re even more susceptible to damage than lawns during this time of year! Your flowers will also need extra attention from now until springtime—spend some time mulching around their roots so they don’t dry out too much over winter months (and replace any bulbs or seeds that did not bloom).

8. Schedule a chimney inspection and sweep

One of the most important places to check is your chimney. This is because a chimney can be extremely dangerous if it doesn’t function properly, and it can also lead to serious health problems due to carbon monoxide poisoning. If you have a wood-burning fireplace or an oil-heated boiler, you need to make sure that the venting system is working smoothly by scheduling an annual inspection and sweep. This means that someone will go into your chimney and check for cracks in the flue tile or bricks, as well as damage caused by animals or birds nesting in there (this happens!). Also make sure that there aren’t any obstructions preventing proper airflow throughout this system; otherwise, it might not work properly!

9. Check smoke detectors, carbon monoxide alarms and fire extinguishers

We recommend testing the smoke detectors and carbon monoxide alarms every month. Test both with a smoke detector pen or other device, then change the batteries if they’re old (or mark them with tape as “out of service” if you don’t have any new ones). The CO alarm should be tested monthly by pressing the test button, then resetting it when you’re done.

Test your fire extinguishers by checking that they have not expired. If they have expired, replace them immediately!

As the fall season approaches and you start to think about regular maintenance on your rental property, it’s important to keep in mind that not all properties are the same. While some may require only a few simple tasks, others may need more extensive attention. The key is knowing what each step means so you can prioritize accordingly.

If this seems overwhelming, don’t worry! We’d love to talk with you about how to rent your property in Salt Lake.