How to Handle LBI Rental Damage for a Summer Rent: Short Term Rentals
- High Tides Digital Marketing
- Feb 21, 2022
- 2 min read
Long Beach Island Real Estate Rental Information and the LBI Real Estate Market
Rental property damage can be a touchy subject for many people. Rental properties are an investment, and it is important to take care of them. Rental damage can happen at any time, but when the rental period is short term, this means that you have less time to fix what needs fixing before the next renter arrives. If you are a landlord in LBI real estate who has had some issues with your rental property, then read on to find out how to handle it!
How to Handle LBI Rental Damage for a Summer Rent: Short Term Rentals
The best thing to do is talk with the renter. Rental damage in the LBI real estate market can happen to anyone, and if it happened while they were renting from you, then it’s important that they know how much of the cost will be covered by them. Renter insurance varies widely in price depending on what coverage a person desires, so this might be something to talk about. Rental damage can be quite expensive, so it’s always a good idea for renters to have insurance in case of an accident that wasn’t their fault or if they want additional coverage as well.
The other thing you might also need to discuss is the repairs themselves. Renter estimates tend not to be very accurate, and you might need to have the repair company get an estimate themselves. Rental damage can include anything from a broken window or a hole in the wall, all the way up to water leaks and mold infestations. It’s important that renters know what they are getting into so they don’t go home with any surprises.
Most LBI real estate rentals have a security deposit to cover rental damage. Rental damage is handled differently than when a tenant moves out and damages the property. If you are experiencing rental damage with LBI real estate rentals, then talk with your renters about who pays for what repair costs before any work happens. There may be some items in the home that could be changed to avoid future rental damage. For example, installing a light-colored rug may look beachy, but it will also show a lot of dirt. Swapping that out for a more durable flooring could eliminate future problems.
Long Beach Island Real Estate Rental Information and the LBI Real Estate Market
Buying a home in the LBI real estate market as a rental investment can be a very sound decision. The LBI rental market tends to be stable and can generate a fantastic return. Unfortunately, damage and wear and tear are a part of the process as well. Rental damage is something that landlords in LBI real estate markets need to prepare for. The good news is, most of the time, the damage is minimal and can be easily addressed. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
