When most people think about property maintenance, a regular painting schedule might not be the first thing that comes to mind, but it should be. Fresh paint protects the walls from wear and tear, helps prevent issues like moisture damage, and most importantly, keeps tenants happy.
That’s why painting should be viewed as part of your long-term investment strategy, not just a quick fix between tenants. In light of this, read along this article as we discuss why a regular painting schedule is important for you as a property owner.
Why Is A Regular Painting Schedule A Strategic Investment?
-
Higher Rental Income
Regular painting not only keeps your property in a presentable state but also gradually raises its value. If you decide to sell your house, you will be able to demand more rent and list a higher price. Freshly painted walls and good upkeep have a beneficial impact on market assessments and real estate appraisals.
This is due to the fact that maintaining the property shows prospective tenants or buyers that you have taken care of it, which increases its appeal and value. In a competitive market, a house that looks updated and modern stands out and often fetches a higher rental price or sale price. Work with a rental manager in Baltimore on how to strategize rental pricing after painting the property. A regular painting schedule is an investment in the future of the home, guaranteeing a steady increase in value and a healthy return on your investment.
-
Better Tenant Retention
Attracting and keeping great renters is important for long-term rental income and profitability in a competitive rental market. Many landlords choose to paint rental properties during vacancy periods to attract new tenants quickly. Renters who live in a well-maintained neighborhood are more likely to express high levels of happiness, which encourages them to extend their leases and refer other people to the property.
Tenant loyalty and lower turnover get better by the simple act of keeping freshly painted walls, which helps to create a cosy and attractive living space. Regular painting serves as a subtle yet effective marketing strategy that improves tenant retention and, as a result, maintains a consistent flow of revenue from rental operations.
-
Minimizing Long-Term Damage
Frequent painting protects rental properties’ surfaces from deterioration by acting as a protective barrier. Examples of damage to walls include stains, smudges, and more serious scuffs and scrapes. A regular painting schedule helps to prevent these problems and maintains the integrity of the surfaces on your home over time.
High-quality paint can also help prevent mildew and moisture, especially in kitchens and bathrooms with higher humidity levels. You can preserve your property in immaculate shape by avoiding expensive repairs and replacements by halting such deterioration.
Factors to Consider When Creating a Repainting Schedule
-
Tenant Turnover Rate
Tenant turnover is an essential consideration in developing a repainting schedule for rental properties. High tenant turnover may indicate that the property will likely need to be repainted more often since the turnover process tends to make paint wear out more quickly. For example, at a rental property that has new tenants every 12 months, you may be repainting every 2 to 3 years or longer before it becomes too distracting or boring for newer tenants. The opposite can be said for properties with long-term tenants that can extend the degree of how long you can go before repainting, which is generally 3-5 years, depending on other conditions such as wear and tear and weather.
Property owners often paint their unit during transitions of a new tenant, since it is more efficient and practical to paint an empty unit than to disrupt a tenant’s living space. Paint is simply part of a thorough preparation process to have a unit ready for the next tenant. Another clause in the lease agreements to remove confusion over painting for owners and tenants is a clause on painting responsibilities and maintenance to set expectations around the timing of painting and the tenant’s obligations to reduce tenant disputes.
-
Quality of Paint Used
The kind of paint is a key component of developing a repainting plan because investing in a higher-quality paint has better durability and protection for your walls. Higher quality paint is more resistant to fading, peeling, and moisture damage, so you can repaint less often, typically 5 to 10 years on exteriors.
Quality paint increases durability and provides aesthetic value, which will lower your maintenance costs over time. On the other hand, poor-quality paint jobs may need repainting sooner because they tend to degrade more quickly under the stresses of the weather and environment.
-
General Wear and Tear
When putting together a paint schedule, general wear and tear is very important to consider, as it represents the reasonable decay, as well as the age of painted surfaces from normal usage over time. In line with itemized guidelines for both residential and commercial backgrounds, general wear and tear differs by the previous paint job’s durability, frequency of use, environmental exposure, tenant or occupant interaction, and the quality of the used materials.
In general, areas such as kitchens, corridors, and living areas experience above-average wear and tear, requiring repainting every 3 to 5 years. Bedrooms can last 5 to 7 years, or longer, for repainting since there is generally no sustained expensive activity, unless it is a children’s room, which generally requires more upkeep. Bathrooms typically need repainting every 3 to 4 years, depending on exposure to moisture, while ceilings usually have a much longer repaint cycle, generally lasting between 9 and 10 years.
Normal wear and tear means fading, scuff marks, peeling, discoloration, minor chips, and other signs of aging paint that arise through normal use. Scheduling a repainting cycle depending on wear and tear protects the surfaces being painted and keeps them looking good for years while preventing any further wear and tear.
Final Thoughts
A regular painting schedule may appear to be an expensive investment, but it pays off in a variety of ways. Maintaining your building’s exterior and interior paint in good condition can improve its appearance, protect it from environmental harm, and possibly boost its worth. So don’t hesitate to design a plan, a strategy, and give life to this schedule.