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If you’re planning to buy an investment property, you’ve most likely already done your proper research of the property thoroughly, checked records, and negotiated the cost of any repairs into your final purchase price. Unfortunately, many real estate buyers, including savvy investors, ignore a critical concern when inspecting a property for potential problems: Bugs are present, that means it is time for pest control.
But first, if you want to learn more about how proper pest control can help maintain value in your property that makes it look more appealing to mortgage lenders, click the link below to book a free strategy call today.
Pest Control Issues
Pests are, for the most part, simple to deal with. A few visits to a pest control expert, mainly while the building is still vacant, usually quickly solve the problem.
However, pest control concerns can sometimes spiral out of control. What’s the result? The building suffers severe structural damage, resulting in a loss of investment. Furthermore, if renters move into a rental building while it is still infected, you and your tenants may lose faith in one other. In either case, your reputation as a property owner will be severely harmed.
Every real estate investor should inspect possible investments for insect pests and diseases carefully. If you suspect a pest control problem at home you wish to buy, you’ll need to look into the degree of the difficulty, the sort of bug that’s infesting the structure, and possible solutions.
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Detecting and identifying infestations
If you suspect a pest infestation, employ a third-party pest control consultant to give you an unbiased assessment of the dangers of proceeding with the sale.
The severity of the damage will be determined by the type of vermin and the length of the infestation. Rats, for example, are an unpleasant irritation, but a short-term infestation is unlikely to cause significant structural damage. On the other hand, termites or carpenter ants could eat away at the building’s structural integrity.
But how can you know if you should be concerned, to begin with? When touring a potential investment property, keep the following warning signals in mind:
Insects that are common:
Look for ants and cockroaches, which are common household insects. Cockroaches, in particular, produce sticky deposits on the walls and ceilings that resemble streaks or trails. Cockroaches, while they may appear to be a little annoyance, are rather harmful! They’ve been linked to respiratory issues. Ant infestations are generally harmless, but they can be irritating to tenants.
Rats and mice
Rodents are famous for transmitting lice, ticks, and sickness, so you don’t want them in your rental property. Fortunately, the indicators of a rat infestation are usually easy to identify before you close the door. Mice and rats prefer to concentrate in regions where they can leave droppings. Look for mouse droppings or indications of chewing in the basement, garage, attic, closets, and kitchen cabinets. Rodents could be residing in the walls if holes appear along the baseboards, especially in corners.
Few pests are more hated and feared than bedbugs, and with good cause. It’s very tough to get rid of a bedbug infestation once it’s established. The majority of people unintentionally acquire up bedbug infections when staying at hotels. Unlike most other pests, diagnosing a bedbug infestation while inspecting a house is quite difficult. There are few red flags to watch: Bedbug excrement could leave rusty stains on the carpeting and furniture.
You’ll have to pound on wood to see if your potential investment property has a termite infestation. Unlike most other household pests, termites threaten a building’s structural integrity because they eat away at wood and drywall. Look for signs of termite tracks on exposed wood and mud tunnels along the base of the building. Also, if you pound on beams and studs and sound hollow, you may have a termite infestation.
Strategies for Pest Control Solutions
Once you’ve established a pest infestation at your potential investment property, you’ll need to identify the severity of the infestation. You’ll know what pest control options are available and possible from there.
Depending on the species of bug that has taken up residence in the house and the intensity of the infestation, pest remediation solutions might vary dramatically.
Spraying for insects and bugs like moths and ants is a common pest remediation strategy. If the infestation is minor and recent, a few spraying appointments might be enough, as long as you follow up with your exterminator’s frequent visits to keep the infestation at bay.
Some bugs are more difficult to get rid of than others. Bedbugs, for example, require heat treatment to be removed. A bedbug infestation can only be obtained rid of by exposing them to a lot of heat. This means that bed bug-infested buildings must be abandoned and treated with a specific machine that raises a building’s air temperature. When dealing with a bedbug infestation, it’s usually necessary to remove all carpets and furniture.
Termites, on the other hand, necessitate a ‘tenting’ of a home. A vinyl tent is stretched around the structure, and a potent, high-intensity chemical is applied. This usually gets rid of the infestation, although it can make the building uninhabitable for a few weeks.
Rats and other rodents are frequently removed using a combination of poison and traps. While these are excellent strategies for dealing with rodent infestations, they also put pets and small children in danger. If you’re dealing with a rat infestation, it’s critical to speak with your tenants about how they can keep their children and pets safe.
Say bye-bye to pests forever!
While bug problems are rarely a deal-breaker, they should make you think twice about buying a house. If you’re debating to purchase something, keep these things in mind; consider the following factors: it’s critical and prudent to consider insect infestations. Calculate the cost of remediation and negotiate it into the property’s sale price if nothing else. And, if you decide to handle the situation on your own after the closure, be prepared to seek professional advice on the best course of action.
Once again if you would like to learn how proper pest control can help you maintain value in your investment properties, and how mortgage lenders value these efforts, click the link below to book a free strategy call with our team at LendCity today.