Wet basements can be a serious issue for any rental property owner. A musty, wet basement isn’t just a threat to health and safety, but can also drive potential tenants away and reduce the overall value of your property.
Leaking basements or ones that flood instantly increase the risk of mildew and mold, and may inevitably lead to expensive structural damages. If you have noticed that your rental property has puddled floors, damp walls, or if floods a lot, you should consider investing in a waterproofing system for your basement.
There are various techniques that can be used to waterproof basements. Depending on the location and type of dampness in the basement, you will have to pick one that suits your budget and property.
Exterior Waterproofing
Among the various types of exterior waterproofing for basements, 3 options offer the best functionality and value. The first method involves a technique of cement coating the exterior of the crawlspaces and basement walls to seal out any potential leaks.
Other than this, property owners can consider installing waterproof membranes around the foundation of the property. This method involves excavation, which may be somewhat expensive, but is ultimately effective.
Thirdly, you can also look into installing a drain system that is specifically designed to collect and take groundwater from the foundation of your property. This particular option is necessary in areas that have frequent rainstorms that result in high levels of flooding.
Interior Waterproofing
Similarly, interior waterproofing the basement of your rental property involves keeping water far from the walls. Among the 3 most popular techniques of doing so are applying a coating of foundation along the interior walls to keep the cement from seeping water.
If this isn’t a suitable option, you should consider another technique that involves applying a waterproof sealant over cracks to help reduce leaks and puddles. If this is too time-consuming, a water vapor barrier may be an effective solution for your property.
The latter technique involves installing rubberized mats or boards to the walls of the basements in order to prevent groundwater damage. All of these techniques vary greatly based on cost, so it is crucial that you get multiple quotes before settling for any of the above options.
Make a Decision
Choosing to waterproof your property’s basement is one decision that you should make based on your rental property’s circumstances. Still, if you find dampness to be a constant problem, then waterproofing may be the only way you can protect your investment from losing its value.
Even though waterproofing may come at a significant expense, you can rest assured that your investment will be worth it in the long run. This is because a dry basement is a huge asset for all rental properties. For instance, your tenants will be able to use their basement space for storage, hobbies, work, or other things they can’t do if they are victims of a flood.
Also, the musty smell of damp basements can permeate other areas of the rental property, causing inconvenience to the neighbors as well. Over time the loss of income and the decreased value of the property could be a lot more than the cost of waterproofing your property.
Final Thoughts
Don’t have time to make a decision yourself? Why don’t you delegate this responsibility to your property manager instead? If you haven’t hired a property manager already, you can learn more about our services and how an experienced property manager can share some of your burdens on our website.
