Toronto Income Property Newsletter: May 2016

Now that we are in the midst of the spring real estate market, this is the time that landlords should ensure that their investment properties are kept clean and in tip-top shape.

Here is a list of maintenance items that I recommend you, as a landlord, should consider:

• Check your eaves trough for any areas that are plugged with debris. Look for any places that are cracked and leaking. Also, make sure that downspouts are properly draining away from the house. Poor drainage can lead to a weakened foundation and even flooding in basement areas. The City of Toronto does not allow for you to drain back into the house, but rather expects your drain to run away from the property.
• Look at your roof shingles from the safety of the ground. Inspect the roof as best you can to see if any were lost during the winter. If you notice any shingles that are cracked, mossy, loose, or missing, make arrangements to have them fixed or replaced. While a roofer is up there, have them check the flashing around the vents and look for puddles if your roof or a portion of it is flat.
• Examine any outdoor hose faucets for winter damage by turning the water on and letting it run for a few minutes. If you aren’t getting much water, there could be damage to pipes inside.
• Inspect any wood, wood trim, shutters and so forth on the exterior of the rental property to see if there is any wood rot. Warmer temperatures and spring rain can make a small problem a lot worse, so get it fixed before that happens. In Toronto, we have termites in certain areas of the city and they tend to like moist wood.
• Check sidewalks and the driveway for any new cracks or sinking. The moisture and cold weather from winter can cause concrete to crack, heave or sink.
• Check on the condition of the property’s fences and see to any repairs as needed. If the fence is vinyl or wood and sustained any damage during the winter, it should get fixed sooner rather than later. Remember good fences make good neighbours.
• Trim trees, shrubs and plants as may be needed. It’s also an ideal time to plant any new items like a tree or bush to improve the curb appeal of the rental property. Add mulch to flower beds if needed to keep these areas tidy.
• Wash the exterior of your rental property using a power washer or the old-fashioned bucket and sponge. Not only will it look better, but you’ll get an up-close look at the property, the foundation, the flower beds and more to possibly discover other issues or problems you or your tenants wouldn’t normally notice. You may want to consider power-washing your external brick as well.
• Give the exterior of the windows a good cleaning as well using a recommended window cleaning solution. Also, don’t forget to clean and repair the rental property’s window screens.