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Essential Do’s and Don’ts of Rental Property Electrical Upgrades

Electrician at home construction site.
Acquiring an older rental property in Greeley can be a nice deal, definitely if you’re inclined to make the sorts of improvements it will feasibly demand. As rental properties age, their key systems, such as plumbing, heating, cooling, and electrical, also certainly age.

Electrical wiring deteriorates over the course of time, and it can lead to some major issues. Older wiring is really not very efficient and may increase utility costs. Adding large appliances, new lighting accessories, or technology hubs to an old wiring system can induce electrical shocks, blown fuses, and overheated outlets. Older electrical wiring can be a severe fire hazard, accounting for tragically thousands of house fires in the U.S. annually.

When it’s near time for you to improve the wiring in your rental property, you should take note of specific do’s and don’ts to protect your property—and your residents—from harm.

  • Do hire authorized specialists to deal with the work. A general contractor or handyman just doesn’t have the expertise required to upgrade wiring correctly.
  • Do accept numerous proposals for the job. The lowest bid may not be the best value, but really, deciding on the first electrician you call may cost you. Do your homework by examining and comparing propositions with industry averages and each other.
  • Do acknowledge the requirements, both now and later, of your residents. If your tenants have electricity-related desires, it’s key to seriously think about whether the cost of satisfying their demand is higher than needing to replace them.
  • Do think of implementing upgrades that promote smart technologies. More and more renters are looking for integrated smart technologies that enhance the ease and safety of their homes. While not seriously necessary, a rental property that is smart technology ready may hold higher rent and draw in many nice, long-term residents.

And take note, comprehending what not to do is, at the same time, integral.

  • Don’t forget wiring predicaments to try and save funds. The longer the problems continue, the more obligation you inadvertently create in case a fire begins. Addressing issues as soon as possible protects both you and your property.
  • Don’t attempt, at any time, to upgrade electrical wiring independently; don’t command or permit your residents to deal with it, either. A licensed, experienced electrician is the only person you should approve to upgrade your property’s wiring.
  • Don’t settle for upgrades you don’t essentially Quality is critical, as is establishing your residents are comfortable, but anything beyond the norm is conceivably not going to improve the value of your property enough to make it worth the time, money, and effort.

To find out more about electrical upgrades, maintenance plans, and other property management services provided by Real Property Management of the Rockies, please contact us online or at 970-658-0410 today!

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