Unexpected Property Management Costs
January 3, 2023
A rental property is a great way to generate consistent income. However, unplanned expenses associated with the rental property may reduce your profits. It is important for a property owner to be aware of these costs and plan for them in order to maintain positive cash flow.
Following are examples of unexpected costs that an owner may have to incur:
- Maintenance Costs: Maintenance is an intrinsic part of owning a rental property. Unpredictable expenses may crop up when you least expect it. However, budgeting for the same and ensuring that routine maintenance is done goes a long way in reducing surprises. A great way to manage unexpected maintenance costs is to contribute a part of monthly rent earned towards a maintenance fund for the property.
- Eviction Costs: There may be situations that require the property owners to issue an eviction notice. The eviction process has some costs associated with it. To prevent such costs, it is important to thoroughly screen potential tenants. Pay attention to their credit history and background when screening before signing the lease agreement.
- Pest Control: You should be prepared to act quickly if you discover a pest problem in your rental home. Even though you may conduct regular inspections to assess the need for pest control, you should set aside an amount for quick intervention in case of an infestation.
- Vacancy: Short gaps between move-outs and move-ins may lead to some vacancy costs. You can reduce vacancy costs by offering the rental at a reasonable price or by hiring a property management company for competitive property marketing to reduce vacancy period.
- Cleaning Fees: If your rental property is vacant and you are looking for potential tenants, cleaning costs may be an important consideration. To keep your property attractive, you may need to hire a cleaning expert. Cleaning fees is an important cost to take into consideration when budgeting for rental property expenses.
- Legal Fees: You may have to deal with legal or professional fees e.g., hiring a lawyer to help with eviction, filing a lawsuit for insurance claim, etc. Set aside an amount for unexpected legal fees that may be required to handle a legal situation.
- Taxes and other expenses: Rental properties are not exempt from taxes. Change in property taxes or property related fees like HOA fees, Insurance, etc. can lead to an unexpected hike in expenses. It is advisable to budget for taxes and other fees with the help of your property manager.
Hunter Rentals & Sales is a premier property management company in Killeen, TX and serves the Fort Hood areas of Killeen, Harker Heights, Copperas Cove and Belton. Our team is trained and experienced in helping property owners manage their rentals in the most cost-efficient way possible. To know more about property management costs, visit Hunter Rentals & Sales at 1503 W Stan Schlueter Loop, Killeen, TX - 76549. You can also browse through
www.hunterrentals.com or call at (254) 634 - 3311.
Discover smart property management tips for first-time rental owners. Learn how to screen tenants, set rent, handle maintenance, and stay legally compliant for success in Killeen, TX.
Mold and mildew are persistent issues in environments with high humidity, especially during warm or rainy seasons. These fungal organisms flourish in damp, poorly ventilated spaces and can appear on a variety of surfaces, including walls, ceilings, fabrics, and furniture. Besides their unpleasant appearance and smell, mold and mildew can also cause health problems, especially for people with allergies or respiratory issues. Fortunately, with consistent maintenance and environmental control, the risks associated with mold growth can be significantly reduced. Ensure Adequate Ventilation Proper air circulation is one of the most effective ways to reduce moisture buildup indoors. Spaces such as bathrooms, kitchens, laundry rooms, and basements are particularly susceptible due to frequent water use and steam accumulation. To address this, ensure exhaust fans are properly installed and working. You can also open windows when weather conditions permit. Using ceiling fans or portable air circulators can further enhance ventilation and minimize moisture buildup. Use Dehumidifiers Strategically Dehumidifiers play a vital role in regulating indoor humidity. By drawing moisture out of the air, they create a less hospitable environment for mold and mildew. These devices are especially helpful in enclosed or poorly ventilated areas like storage rooms, attics, and lower-level spaces. Running a dehumidifier consistently can help maintain an optimal indoor humidity level, ideally between 30% and 50%. Address Leaks and Water Intrusion Quickly Unresolved water leaks—whether from pipes, roofs, or windows—can create hidden moisture pockets that lead to mold development. Regularly inspect plumbing fixtures, roofing systems, and window seals for signs of leaks or condensation. Prompt repairs are essential to prevent long-term damage and microbial growth in hidden or hard-to-reach areas. Clean and Dry Surfaces Frequently Surfaces that remain damp for extended periods are prime targets for mold colonization. Regularly wiping down wet surfaces, such as shower walls, countertops, and window ledges, helps eliminate excess moisture. Incorporating non-toxic mold-resistant cleaners into your routine can further discourage growth. In addition, drying wet fabrics or upholstery promptly and thoroughly is essential. Monitor Humidity with Hygrometers A hygrometer is a simple, affordable tool that measures indoor humidity. By placing one in each major living area, you can keep track of moisture levels and take timely action if they rise above safe thresholds. Maintaining indoor humidity below 60% significantly lowers the risk of mold and mildew formation. Maintain HVAC Systems Heating, ventilation, and air conditioning systems influence indoor air quality and moisture control. When neglected, they can circulate humid air or even harbor mold in ducts and filters. Routine maintenance—including regular filter replacements and periodic professional inspections—ensures efficient operation and reduces the likelihood of hidden mold development. Store Materials with Care Materials such as books, clothing, cardboard boxes, and textiles are especially vulnerable to mold if stored in damp conditions. Keep such items off the floor, away from walls, and in well-ventilated, dry areas. Use moisture-absorbing products like silica gel packs or desiccant containers in storage spaces to provide added protection. By implementing these preventive strategies, property owners and occupants can create a healthier, drier indoor environment that is resistant to mold and mildew, even during prolonged periods of high humidity. For more information on property management and maintenance tips, visit Hunter Rentals & Sales at www.hunterrentals.com and connect on Facebook and Instagram for the latest updates. Hunter Rentals and Sales is located at 3207 East Stan Schlueter Loop, Killeen, Texas 76542, United States. Phone: (254) 634-3311
Determining market rent in Killeen, TX ensures your property stays competitively priced to attract reliable tenants quickly. It also helps maximize rental income without risking prolonged vacancies.
