How To Deal With Water Damage In Your Colorado Springs Rental Property PART 1

Fresh Water

Brought to you by Muldoon Associates, Inc. Exceptional Property Management

This first part is going to cover the lesser of two evils in the water damage world, fresh water.  Some of you may be under the impression that fresh water events are no big deal.  The carpet got a little wet, you can shop vac it dry, and everything is good to go!  Unfortunately this is not the case and you are going to want to make sure this type of work is done right or you could be opening yourself up to lawsuits or health hazards.

Water extraction is a complex business now.  There is specialized equipment, chemicals and training required to properly extract and dry affected areas.  If your affected areas are not properly dried you could be creating the perfect atmosphere for mold growth which will cost much more than just doing it right the first time.  Fortunately, fresh water sources if tended to quickly are less of a health concern than contaminated water.  If drywall is not "too" wet it can be dried, carpets can be peeled back and padding replaced, and there will not be a need for as much removal of materials.

Fresh water can turn into contaminated water if it's not cleaned up quickly enough.  Every minute the water is left in the home it collects more debris, germs, dust and dirt.  It also wicks and soaks more and more areas in your home.  This is why it's so important to act quickly.  As the water gets more contaminated the cost of mitigation goes up.   Most water damage situations will involve humidity readings, specialized drying equipment and time.  The wetter an affected area is the longer it's going to take to dry.  This all seems common sense but you would be surprised how many folks I talk to are under educated when it comes to this type of damage and they are shocked with they get bills that often times range in the thousands.  I suggest contacting your insurance company and checking what kind of water damage coverage you have.  If you don't have proper coverage for fresh or contaminated water damage I suggest purchasing it or finding a company who offers what you need.

That finishes up our post on fresh water mitigation!  Check back soon for the second and final part of this series which we will cover contaminated water mitigation!

Daniel Muldoon

How To Deal With Water Damage In Your Colorado Springs Rental Property Introduction

Water Damage Introduction

 Brought to you by Muldoon Associates, Inc. Exceptional Property Management!

I'm writing this blog post to help property owners and property managers get more educated about water damage in a rental property or personal residence.  This is important information because incorrect actions can result in fines, health risks, and excessive damage to your property.  I'm not certified or licensed in the water extraction business but I do have a lot of first hand experience and that's what I'm going to be sharing in this 2 part series.  

There are 3 categories to differentiate between levels of contamination in the water source.  

Category 1 would include water from a fresh/sanitary source.  For example, the plumbing to your sink breaks and floods the kitchen.

Category 2 is somewhat contaminated water.  This also includes fresh water that has been left for an extended period of time.  Using the scenerio above, the water that came from the fresh water supply has been left on the floor, carpet, etc for a few days and has become contaminated with the dirt dust and debris on your floor.

Category 3 is grossly contaminated water.  For example, your sewer line backs up and floods your basement. 

For the sake of this blog I'm going to break it down into two category's, "Clean Water" and "Contaminated Water".  I'll also be touching briefly on insurance claims and insurance coverage.  Please stay tuned for the first part in our series!!

Daniel Muldoon

 

Things To Do To Your Colorado Springs Rental Property Before Fall

Things are going great!  You have read my previous blogs on properly vetting tenants and keeping your rental property occupied and you have had months of smooth sailing!  Remember you still need to stay ahead of repairs and upkeep on your property.  As we come into fall it's a good thing to have a list of items that you will check and repair before fall hits.

Summer in Southern Colorado involves hot days and 60-70 degree nights.  There is little to no risk of freezing so hoses are easily forgotten and left attached to spigots, or sprinklers are set on auto-pilot with no fear of breaks.  As we come into the fall season the days will stay warm but the nights will begin to cool.  You will need to start the furnace soon and turn off the A/C.  Here is a list of things you should do to your rental property as we transition into fall.  Some of these items are tenant responsibility but use this as an opportunity to walk your tenant through the processes or provide them with preferred vendors to take care of it if they cannot.

1. Have the furnace serviced and cleaned
2. Keep an eye on your gutters as the leaves and sticks begin to fall
3. Get into the habit of spooling up your hose and removing it from the spigot
4. Fertilize and aerate your yard
5. Check all weather stripping and caulking around doors, windows, vents, etc
6. Winterize your evaporative cooler
7. Turn off your sprinklers are nights that are below freezing
8. Make sure you have secondary heating options in case there is a problem with the central heat
9. Mow your yard at higher depth to help protect the grass from the coming cold season
10. Remove all dead and overgrown vegetation

If you have completed this checklist you are well prepared for fall in Southern Colorado.  I'll be back shortly with a list of items to prepare for winter!

Daniel Muldoon
Muldoon Associates, Inc.

Reasons To Hire Muldoon Associates, Inc.

Muldoon Associates, Inc. has perfected the art of managing single family residential properties in and around Colorado Springs, CO and Pueblo, CO.  Whether you have a 1 bedroom home or a 10 bedroom castle we can handle your property management needs efficiently, effectively, and professionally.  We are so confident in our tenant placement services that we offer free eviction protection coverage.  If we have to evict a tenant that we placed in your property, we will absorb the legal fees.

We offer a simple flat management fee with no hidden costs, and no percentages!  Our costs do not increase based on rent, we offer our flat rate management fees to everyone.  Our flat fee includes tenant placement, security deposit disposition, rent collections, showing your property to prospective tenants, advertising, maintenance correspondence, tenant correspondence, online owner portals, tenant portals, and much more!

    

Let us handle your asset for only 99 dollars per month.  Nobody can match our services or our prices!  Muldoon Associates, Inc. has managed thousands of homes over the past 30 years.  We have implemented virtually fool proof systems and policies which allows us to keep our fees low and our quality of service unsurpassed.

Property management isn’t just a business to us.  It’s our name, our livelihood and our passion.  Investment properties can be risky but we do everything we can to minimize your risk while maintaining your return on investment.  Call or email Daniel Muldoon to discuss your specific needs and situation.