One thing you want to keep up with is the repairs when you own multifamily rentals or any rental property. Because if your tenant would fall down the steps or becomes hurt due to your negligence, you could be sued. So if your tenant reports; or if you notice a loose stair tread, fixing it as soon as possible is advisable. Therefore; below are instructions on how to repair a stair tread on a wooden staircase.
First block off the stairway so no one can use it. Then pry up any moldings or trim around where the damaged stair is. Also pull up any loose nails. If the bottom of the handrails are in the stair tread, put the notches on the side of the stair tread at each baluster so it’s easier to remove the balusters. With a hammer, strike the bottom of the balusters by striking outward so the balusters are pushed to the side. Now remove any additional nails sticking out.
Next you need to pry the damaged tread up by using a pry bar. You will need to tap the bar in between the stair trend as well as the stringer and then push down on the bar so the step raises. Keep repeating until the tread becomes loose and can be removed easily by hand.
You will then need to measure the worn tread’s length, thickness and width. Next, buy the same wood species as the old tread as well as the same thickness of board when you buy a length of stair tread stock. Now if the tread has a rounded edge, buy a new one already rounded. Then lay the old tread on the new plank and trace the outline or measure and mark the needed dimensions on the new tread. For cutting the new tread, using a circular saw is best.
Make sure the new tread is smooth by using a power sander or sandpaper. Now by drilling pilot holes 3/16-inch at the end of the new tread, when nails are driven into the wood, it won’t split. To close, place the new tread where the old tread used to be and nail it to the stringers. Replace the handrails, moldings and any trim and nail into place also.
When in doubt call a professional.
When you own a building with apartments, the maintenance work is different than owning your own home. There are different elements which need to be kept updated too and where you have to make sure there aren’t any damage issues. There will be maintenance requirements after a tenant moves out also that may call for renovation. And if you’ve had tenants who have caused damage to your apartments, you may even have to call in a multi-family construction company. However, to try to keep damage in check, below are some ideas what to look for when performing an apartment inspection before a tenant moves out or before a new tenant moves in.
- Check all the carpets in the rooms to make sure they are stain-free. Also look at the paint on the walls and woodwork for damage such as marks, gouges or scratches.
- In the kitchen, inspect the kitchen cabinets for any burn marks, spills or water damage. If there is tile on the floor, ceiling tiles or tiles on the backsplash; ensure that they aren’t broken, chipped or stained.
- Check the bathroom to make sure the shower/tub is cleaned and the toilet is working properly.
- Check to make sure the doors lock and the windows aren’t broken and that they close.
For a general yearly inspection, you may want to check on the following:
- Is the number of tenants which are on the lease the number of tenants which are living there?
- If you don’t allow pets, are there pets? If you do allow pets, is the correct number and kind of pets in the apartments? Also, check for any pet damage.
- If you don’t allow smoking, can you detect if your tenants have been smoking?
For general maintenance on the outside of the apartment building, you may want to run through this list:
- Check the paint on the outside of the building to make sure it isn’t discolored, chipped or cracked. See that the windows don’t have cracks and are clean.
- Check that the roof doesn’t have any shingles missing and that the gutters are free of leaves and also debris free.
Keeping your apartment building in excellent shape will not only attract a better quality of tenant, but save on expenses in the long run.
Thinking about buying an apartment community or other large scale multi-family complex? If you’re curious about the amount of time they may take, try a smaller scale project first.
What about buying a property and converting it into a mini multi-family apartment building? With a house undergoing multi-family construction, you have several choices too. You can live in one side yourself and rent out the other side; thereby the rent you collect will pay the mortgage payment. Or you can rent out both sides and have double the income. Either option will create cash flow and create a more sound financial future.
Another point is that multi-family homes sometimes are within the same price range as a single family home. When a lender knows that you are going to be generating income with the home you’re buying too, your lender considers 75% of the rent as part of your anticipated income. This in turn will let you buy a more expensive multi-family home for the price of a single home with the rent taken into consideration as income.
If you have a property that is undergoing renovation into multi-family apartments, keep in mind that it’s more profitable with more than one unit on the property. If you have multi apartments instead of just one unit too, then if an apartment is empty for a month, it won’t be as much of a financial burden.
And if you buy a unit which has two or three apartments in it, then most likely you’ll be able to finance traditionally instead of having to commercial finance. This means you would only need a standard down payment of 20%. You will also be able to apply for different types of mortgages such as a fixed rate or an adjustable mortgage.
When redoing a property with multi-family construction, the location is also important. Buying property which is near places such as large employers, grocery stores within walking distance and even by universities and colleges is good here. Renting out to students can be profitable also and know that they prefer to rent within a building which is student designated.
There are many advantages to multi-family ownership. Consider the options and what will work best financially for you. As long as you keep your expectations realistic, you can generate a profit while having someone else make your mortgage payments.
A multi-family residence requires a great deal of maintenance. There are constant issues that need to be addressed such as roofs, siding, sidewalk repair and unit upgrades. Plumbing and HVAC issues are part of life in a multi-family residence. You’ll also have to deal with problems like hail, heavy storms and wind damage. Who do you turn to when you need help with these problems?
It’s critical that you hire a properly licenses and insured contractor for your multi-family renovation. You may receive solicitations from a variety of contractors who will offer discounted services. You may have friends or family members who offer to help with your issues. These offers are tempting, but they are risky. What if someone falls and is injured? Accidents happen all the time on jobs like replacing roofing, construction and painting. You could be liable for these accidents if your contractor isn’t properly licensed and insured. You will have to deal with all the responsibility if an accident happens and end up in a lawsuit situation.
A licensed contractor has proven competent and is approved to do business in a city or state. Your contractor should be licensed to perform certain tasks. If you are thinking of hiring a licensed contractor, you’ll be able to check the company’s license with your local Better Business Bureau to see if the company has been the subject of complaints. A clean record with the Better Business Bureau doesn’t ensure that the company is competent, but it will give you some information.
What does it mean if a multi-family construction company is insured? This is probably one of the most critical concerns when it comes to hiring a contractor for your multi-family property. If an accident happens, the insurance coverage comes into play. For example, if a roofer falls and is injured, who will pay? If the company is properly insured, their insurance will cover the medical costs involved. However, if the contractor is not insured, you will be in a difficult situation. A claim will be filed against your business’ insurance. You’ll be liable for the deductible and any costs the insurance doesn’t cover. That’s why it’s so important to hire a licensed and bonded contractor. This will protect you significantly.
If you own a multi-family housing complex, tenant damage is a very real concern. You’ve probably heard horror stories from property owners and managers. Even though you probably charge a damage deposit, tenants may still treat your property disrespectfully. Average tenants will probably leave scuff marks on your walls, stain carpeting or damage flooring. The worst tenants do even more harm and may damage plumbing, harm drywall, bend stairs, break windows or otherwise damage the home. All rental properties run the risk of tenant damage, even in high-end communities.
Multi-family construction companies can help you repair the damage that tenants cause in your rental units. A good multi-family construction company can assist you with the repair work you need to do to get the unit back in rentable shape. These types of commercial construction companies have experience with many different types of work that can assist you in a rental unit damage situation.
A multi-family construction company will have experience with a wide variety of projects. You should work with a commercial construction company that has a good reputation and can provide appropriate references. The company should be able to repair drywall, fix or replace stairs and fix leaks from a variety of sources. If there is damage to the exterior of the building, the commercial construction company can help you evaluate the best way to repair the damage in the most cost-effective way.
The multi-family construction company can help you inspect the rental unit so that you are knowledgeable about all the damages. You might not immediately notice problems with heating and cooling systems or water damage unless you are experienced with these types of issues. Your commercial construction company has probably worked on a wide variety of similar projects and can help point out all existing problems and assist you in making a project plan to repair the unit.
Some property owners decide to upgrade the rental unit at the same time that they are doing damage repairs. In these cases, multi-family construction experts are invaluable because of the wide variety of work they can perform. You can upgrade balconies, paint the exterior and interior and fix electrical and plumbing problems while working with a single commercial construction company instead of multiple vendors.
Hail is one of the most damaging types of weather. It can ruin roofing, dent siding, scrape paint and damage gutters. Hail can break and crack windows and damage window framing. Sometimes hail is accompanied by high winds which only compound the damage. One of the most frustrating aspects of hail damage is that it is completely unpredictable. Hail storms don’t arrive on schedule. After the storm, you will probably be scrambling to fix the most serious problems. Then, you’ll need to deal with less pressing types of damage.
Commercial construction companies can help you deal with the repair problems immediately. Multi-family construction companies have experienced responding quickly to emergency situations. A reputable commercial construction company won’t try to exploit the situation and charge you more money because of the urgency of the situation.
There are several common types of hail damage to roofs. Some are more noticeable than others. An experienced commercial construction company can help you identify many of the common issues. They will notice common roofing problem which include missing shingles, leaks and cracked and broken tiles. The commercial construction company may notice further details such as dented asphalt shingles and dents on gutters.
A reputable multi-family construction company is a great resource because the organization can assist you with a wide variety of issues. They can do partial roof repairs or full roof replacement when necessary. The multi-family construction company will be familiar with the common areas of damage to multi-family units. They’ll be able to find leaks that you might notice until the leak has created significant damage.
The advantage of working with a multi-family construction company is that they have expertise in a wide variety of work. They will have a stable staff that you can depend on to show up on time and complete the work carefully and thoroughly. You won’t have to deal with the hassle of multiple contractors yourself. The commercial construction company will appoint a project manager to coordinate all the work that needs to be done. A multi-family construction company will also help you manage the logistics of repairs. You’ll want to the work done in a manner that interferes as little as possible with the comfort of your tenants.
Rehabilitation projects can go on for an extended period of time. To simplify the process, you should work with a commercial construction company that can address multiple issues. Find a partner that has experience with roofing, HVAC, siding, welding, stair building, painting and carpentry. This will make life easier for you because you won’t have to juggle multiple contractors.
If the building has been neglected over a long period of time, you should have your commercial construction company evaluate the structure for any storm damage. If repairs aren’t made after damage, they can lead to serious problems. The roofing may be seriously compromised. Bad roofing may not immediately lead to leaks but may suddenly result in drastic problems. Damaged siding will make the building look neglected and can seriously affect energy efficiency. All units should be evaluated for issues like broken plumbing, compromised heating and cooling systems, damaged flooring and leaks. A commercial construction company can also evaluate the units for problems that may be less obvious such as water damage, mold, fire damage and shoddy repairs.
The surrounding parts of the property may need upgrades. Fencing is often neglected by irresponsible property owners. If the property has a clubhouse, it could be out of date and shabby. Clubhouse upgrades can make a significant difference in terms of attracting desirable tenants. Commercial construction companies can help prioritize these repairs and assist you in developing a long-term plan for renovation.
In some cases, your renovations may be eligible for state funding programs or reduced interest loans. Some rehabilitation projects can lead to tax deductions and significant cost savings down the road, especially energy-efficiency upgrades. Commercial construction projects, if performed correctly, can actually save you money in the long run. Commercial construction upgrades will also help you attract desirable and stable tenants. These types of tenants usually won’t consider a neglected property no matter how low the rent is.
When you are rehabilitating a neglected property, consider hiring an exterminator to make a full evaluation of the property. If the property isn’t properly attended to, rodent problems often develop. Cockroach and water bug infestations are also common. You should ask the exterminator to check thoroughly for bedbugs which are a common concern for tenants. The exterminator can correct problems that will seriously upset tenants.
Major storms can have a devastating effect on properties. Multi-family property owners have special concerns. They need to get their properties back in shape quickly to protect tenants and attract new residents. Commercial construction projects can be overwhelming, especially after major storm damage. Working with an experienced commercial construction company can help make the process as smooth and painless as possible.
Property owners usually have to prioritize commercial construction projects since there is so much time and expense involved. The insurance reimbursement process is time-consuming, especially when a storm has damaged extensive parts of the region. Commercial construction projects often need to be completed quickly so that the business isn’t damaged. Property owners need to quickly assess damage and plan storm damage repairs to protect their property investments.
You should consult with a commercial construction contractor immediately to assess the damage to your property. The contractor may be able to provide your insurance company with much of the information necessary to file a claim. Most important, the contractor will help you determine which repairs are imperative and which can be postponed. Serious damages to the roofing, windows, plumbing or sidewalks will need to be addressed immediately. A commercial construction company with multiple areas of expertise will be a strong support for you during the rehabilitation project. The contractor will have expertise will all aspects of the issues you will need to deal with. You won’t have to coordinate with multiple businesses to repair your property.
Your commercial construction company should provide you with a project manager to guide you through the process. You should receive detailed information about what each rehabilitation project will entail. The information should include timelines, estimates and itemized costs for each item. You can ask your commercial construction project manager to meet with your insurance company to expedite the rehabilitation process. The parties can meet and come to agreement about the extent of the damages. This will help ensure that the reimbursement you receive from the insurance company will cover the costs of the repairs you need to make. The collaborative process will help you get the best results for the most reasonable costs.
If you’ve recently purchased an out-of-date property or are planning to renovate a complex you already own, it’s common to feel overwhelmed by multi-family construction project. It’s important to work with a contractor that has expertise in a variety of fields. Multi-family construction renovations involve a range of solutions including painting, electrical work, plumbing, general contracting, roofing and a variety of other types of work. If you work with a contractor who can provide a variety of services, you’ll find that your renovation projects are more achievable.
When it comes to multi-family construction projects, it’s important to set priorities early. You can work with your contractor to make a long-term plan for improving your multi-family property. This way, you can plan your budget over the long-term to make your goals achievable. Many property owners begin by renovating the exterior of the property because it’s difficult to attract tenants if the property looks run-down. Exterior renovations can be completed in phases. Painting can dramatically improve the look of a building. In some cases, the exterior may have deteriorated too much for paint and new siding or repairs may be necessary.
Your multi-family construction project may involve a variety of other external renovations to improve its curbside appeal. One strategic multi-family construction approach is to focus on issues that people quickly notice. Replacing out-of-date fencing can considerably improve the appearance of the area. Your contractor can help evaluate the exterior of the property and recommend the multi-family construction projects that will make the most immediate difference. The contractor may recommend fixing shabby balconies, replacing gutters or replacing seriously damaged roofing.
Interior renovations are an important part of renovating out-of-date buildings. Old paint, shabby carpeting and old plumbing fixtures make the property much less attractive. A contractor experienced with unit upgrades can help you plan for the most important improvements. Often, contractors can recommend unit upgrade strategies that are both cost-effective and effective. Consider a contractor that offers unit make ready services. The contractor comes in and finishes the unit before showings or rentals so that it looks its best. This is especially helpful after a major multi-family construction project. The contractor will clean, remove dust, vacuum, polish and eliminate all signs of recent work so that the unit looks clean and brand new.
When planning your multi-family construction project, consider the typical resident that you want to attract. This should help you identify the features that will make your community stand out from others. Do they have small children? Are they older? Will there be multiple family members in the unit? If so, the residents are more likely to spend more time inside their residence. In these cases, your priority should be creating an inviting interior. Your multi-family construction project may focus on adding attractive windows and doors that make the area seem light, bright and comfortable.
One common multi-family construction project is upgrading the individual units. You can work with a construction company to make the units modern and stylish. You can improve the appearance by requesting a thorough cleaning. You can work with a contractor to thoroughly polish surfaces, clean all rooms and repair damages. Over time, even the best renters damage property. These damages can add up over time and make the unit look shabby. A good contractor can resolve these problems by filling in chips and nicks, removing dents and repairing carpets.
Consider multi-family construction upgrades that are lower cost but make a big impact. The kitchen can be easily improved by resurfacing or replacing cabinets. New countertops can freshen the look of the kitchen. Examine your flooring options. Renters tend to avoid homes with dirty or damaged carpeting. Replacing old carpet helps improve a unit significantly. Consider adding hardwood flooring or new tile in the units. This will make the rooms look considerably more up-scale. Out-dated styles make a big impression on renters. They are more likely to rent a home with a modern feel.
Another multi-family construction project that will attract residents is the clubhouse. You may already have a clubhouse, but if your residents are likely to use one, it’s worth considering some upgrades. You may want to create a larger party area. Some renovation projects include playgrounds or other outdoor activity areas for children.
If you want to make your community stand out from the crowd, don’t neglect the external appearance. It may be wise to invest in a multi-family construction project like updating the siding or painting the buildings. An inviting exterior attracts prospective residents.