5 Signs Your Investment Property Is Falling Apart (Plus Fixes)

It’s never a nice feeling to know that your investment property is falling apart. As a real estate investor, it means more depreciation and maintenance costs cutting into your profits. What’s more, if you ignore these issues, they can lead to higher tenant turnover, vacancy losses, and even structural hazards that could leave you in a position of liability.

The purpose of this post is to run through some of the signs your investment property isn’t doing too well and then offer some fixes. Here’s what you need to know. 

Foundation and wall cracks

If you notice cracks running from the foundations up the walls, then it’s a sign that you have a serious issue with your property. Often, small cracks will appear in the walls or in the foundations, but not both. If both are present, it usually means soil subsidence or the movement of the structure over time. Unfortunately, this problem can compromise the integrity of the entire building and eventually lead to its collapse. Insurers don’t usually look too favourably on these outcomes because most of the time structural failure is predictable and able to be resolved ahead of time.

If you want to fix this, then hire a structural engineer. They can tell you if you have a real problem and what you need to do about it. Minor cracks are often resolvable with underpinning or piers. If you have more serious issues, then you may need to have a new concrete slab board underneath the property and internal structural supports. 

Leaking roof

A leaking roof, while it might sound more benign, is actually equally dangerous to problems with your foundations. As water gets into your property, it eats away at it, weakening it over time. It can also cause health issues if it leads to the development of mould, which it usually does. Interior leaks can get into walls and ceilings. When this happens, they can start to bubble and weaken. Over time, structures can weaken so much that they collapse. If you think that you might have a problem with your roof, get a professional roof inspection as soon as you can. 

Make sure that they aren’t operating on a break-fix model but are fully focusing on the root cause of your roof issues. If you need a local shingle roof replacement, get one. Sometimes replacing the whole roof is the most economical thing that you can do. 

Mold growth in the basement and bathroom

Mould growth is one of the most annoying problems that you’ll encounter as a property owner. It’s an insidious problem and can be difficult to get rid of if you can’t identify the root cause. Often mould leads to a musty odour and can also cause respiratory issues, especially in vulnerable children.

The best way to deal with mould is to simply eliminate the moisture source. Usually, this will be something like moisture in the air after a shower or after cooking in the kitchen. To get rid of these issues, you’ll want to have an extractor fan installed in these rooms and make sure that yours is working. If you own in a particularly cold area and you like a lot of warm showers, then a dehumidifier can also be a good idea. This removes extra moisture from the air from your property and can be left on all day and all night to dry it out even more if that’s what you want.

If moisture is coming from a leak in the roof or a pipe, then you’ll need to hire someone to fix that for you. This type of moisture can be difficult to resolve because it’s not always clear where the problem is coming from. However, experts can usually tell where the likely problem sections are and then replace them. 

Outdated wiring

Outdated wiring in your investment property is another big problem. Not only can it lead to short circuits, but it can also shock your tenants. Many landlords face liability claims because of wiring issues. It may also lead to dissatisfaction with the accommodation and even fires if wires are old. 

The good news is that there is a relatively easy fix. All you need to do is hire a licensed electrician. Just get them to upgrade all of the wiring and circuitry to modern standards. Once it’s upgraded, you will never have to think about it ever again. If you want to save on costs, you can sometimes do the groundwork ahead of time. However, just make sure that the electrician themselves deals with any of the electrics. 

Plumbing leaks

Plumbing leaks are another problem that you might encounter in your house. The worst thing about these is that they often become more dramatic over time. What starts as a minor leak can then become a surging gush over the course of several weeks or months. The reason for this is that water has a habit of overcoming resistance. Over time, it exploits weak spots and eventually leaks out in greater volumes. 

Leak as quickly as you can. Fixing it by tightening connections is a great idea. If you need to re-pipe an old home, especially if you have lead pipes on your properties, then consider using PEX or copper. These are the best options, and they reduce the risk of your tenants calling you up in the middle of the night because there’s been a leak. 

Pest infestation

Finally, you’ll be amazed by how many investment properties get affected by pest infestations. Mice, rats, flies, termites, and all sorts of other critters can enter properties, especially if tenants aren’t looking after them properly.

One of the biggest issues is renters leaving crumbs or food in places pests love. This is because when they enter the property, not only do they get food, but they’re also sheltered from potential predators outside.

Unfortunately, pests like termites can cause extensive structural damage. Therefore, you’ll want to remove them as quickly as you can by hiring exterminators.