Top Common Apartment Repairs Every Landlord Should Prep For
With sun, sand, sea being the tip of the iceberg when it comes to renting property in Malta, its no wonder so many people are jumping on the landlord market.
There are many things to think about when renting your property in Malta or Gozo. Repairs is the not so glamourous side.
Renting out a property is a great way to make some extra income. But do not underestimate what you as a landlord need to take care of. As a landlord, you don’t want to be caught off guard by not being aware of the responsibilities that come with renting out an apartment in Malta or Gozo. Many QuickLets agents would even go so far as to suggest that you put aside a small amount from every month’s rental income to cover the eventual repair costs that arise.
Also remember that it is much easier to keep a tenant than to find a new one. So if the repairs arise during a tenancy, be sure to expedite them promptly. Keep your property in good shape not just for your tenants but also to save yourself bigger costs further down the line.
Here are the top most common apartment repairs every landlord should think about:
Should your flat be deep cleaned before going on the rental market?
Yes. Though cleaning may not fall under the typical “repairs” bracket, it is essential to make sure the apartment is deep cleaned after previous tenants move out. The likelihood of you renting our a property in Malta or Gozo that is untidy or even dirty drops to zero, especially when there are other similar properties on the market. Ideally you allow at least a few days between one tenant and the next to give you time to clean and bring your property back up to the right standard.
Does the heat, plumbing and electricity need to be checked?
Heating or air conditioning, plumbing and electricity are 3 basic functions of renting out any property. They are basic human needs. So make sure all is in full functioning order before putting your property on the market. Can you imagine the embarrassment if you were showing a potential renter around the property and on turning on the tap, no water came out? Don’t wait until that happens to you. Total cringe moment. If you need help finding a reliable plumber, check out Gigify for reliable experts who can help you get the job done.
Do you need to change the locks when a new tenant moves in?
This may seem like a hassle, but essentially you just don’t know whether your previous tenant has handed in all the sets of keys. Safety is paramount – both for you and for your new tenants. Showing them you’re taking these extra precautions could win you extra points when they are considering whether to take up your property or not.
Should you consider renovations in your property for rent in Malta or Gozo?
This is a trickier one. Essentially, failing to upgrade your property could lead to losing out on your next tenant. Even though the Malta property market is tight, you’ll be hard-pressed to find anyone happy to live in a dilapidated home, and why should they? More than this, if a property becomes run down, dirty or unliveable this will essentially have an effect on your return on investment.
We’d suggest you make a list of all the repairs your property needs and prioritise them according to which are most essential to a) keep the property running smoothly b) to the wellbeing of your tenants.
There are several renovations to keep in mind that may increase the value and therefore rental price of your property. This includes:
Remodelling your bathroom
Bathrooms are one of the most used and therefore often most run down rooms in a home. By changing it up and adding new plumbing and a few new fixtures and shelves can increase the value of the property instantly.
Repainting your walls
Painting scuffed, scratched or dirty walls is a sure fire way to freshen up your apartment for rent. By changing the colour of the walls, you can completely transform a room. This is also usually a fun DIY project that you could attempt to cover yourself, which would also keep your renovation costs to a minimum.
Adding outdoor seating areas
Why not spruce up your bare and tired looking balcony with a splash of plants and a few wooden pallets turned into benches and a table. This could add another feature to your property rental that would attract most potential tenants who want to bask in the glory of the Maltese sunshine or sip on sundowners.
Upgrading your windows
Does your rental property in Malta or Gozo still rock the crickety 1980s windows vibe? Not cool. Not only are these windows decreasing the look and value of your rental property, they’re also increasing your expenditure. Badly insulated windows will increase your utility bills in both summer and winter as they let in the hot and cold air at the wrong times of year. Another factor is noise pollution. Any family with young kids (or who want to stay sane) will look for sound proof windows to block out sound.
Investing in solar energy
Now this might be an expensive one to consider at the outset. HOWEVER we can’t recommend investing in solar energy enough. If you’ve lived through a Maltese summer, you know that Malta gets an abundance of sun approximately 300 days per year. This means that solar energy in Malta is booming, especially with government subsidies helping to bear the cost of it all. Many properties in Malta make sue of solar panels to power water heaters and generate electricity.
The 2021 PV grant scheme in Malta entitles household to benefit from up to €3,000 per PV system, up to €3,600 for a battery storage facility and up to €1,800 for replacing a standard solar inverter with battery-ready hybrid model.
If this or any of the above is gibberish to you, why not contact one of our experienced agents at QuickLets and let them guide you through the most common apartment repairs a landlord must consider.