Owning rental properties is a lucrative business with a lot of responsibility. As a landlord, you must know your duties and be sure to conduct rental property maintenance regularly. Not only does this keep your property in good condition, but it also prevents emergencies from occurring. It also ensures a smooth transition for tenants and assures them that everything is running as you would like.
However, conducting routine maintenance is not a simple task. While some landlords prefer to handle maintenance issues themselves, others seek external assistance from property managers and contractors. With that being said, here are important tips for rental property maintenance:
Pests can wreak havoc on your property, especially considering that they are carriers of diseases. Pests in rental properties are a real problem, and you should never underestimate their destructive capabilities. Before and after tenants move in, ensure the property is completely free of pests. If you find any, contact a pest control company and have them solve the issue.
Most tenants will avoid renting a property with pests, so to avoid affecting your tenant turnover, be sure to rid the property of pests.
It is important to ensure the safety of tenants by having annual electrical inspections conducted on your property. Electrical problems pose not only a threat to the tenants but also to the owner. They can result in a fire or electrical shock if not handled properly. By having annual inspections conducted on your property, you can be sure that everything is in good working order.
HVAC equipment is another important rental property maintenance aspect you cannot overlook. During the hot and cold seasons of the year, ensure that the basic components of your HVAC system, such as air filters, are always in good working order. If not, you risk overheating the building and causing substantial damage.
Fire alarm systems like smoke detectors can be a lifesaver in the event of major problems. For example, when the building needs to be evacuated during a fire, the fire alarm system is one of the safest ways to get everyone out safely. It will also keep your property free from any unwanted disturbances.
To ensure your fire alarm system is always in good shape, contact a service provider and ask them to inspect and maintain the system regularly.
No matter how well-maintained your building is, there's always a chance for leaks due to wear and tear. If you own a building that leaks in the plumbing, you risk damaging the property and affecting its value, a crucial factor in real estate sales. In addition, leaks often lead to mold and mildew, which can be a health hazard for tenants.
If you find any leaks, contact an expert plumber immediately and have them fix the problem. The other option is to call roofing services to do comprehensive maintenance, especially if the problem is related to the roof.
As a responsible landlord, you must understand that everything has an expiry period. Therefore, as one of the rules of thumb, ensure you replace any damaged appliances on the property. This, of course, is after a thorough assessment of the life expectancy of crucial machines like the air conditioner. Doing so will ensure that your tenants are always comfortable, plus you won't risk depreciation when it comes to rental income.
Exterior walls and doors tend to be exposed to a lot of wear and tear. When you paint these walls and doors, the elements will not affect their durability, and they will stay in good condition for a long time. So, it's important to make sure that you regularly paint the outside of your property. Even though this activity makes you incur maintenance costs, it will help make your property attractive to more potential tenants.
Most people fail to understand the importance of overall routine inspections. To ensure that your property is in good condition, you must regularly conduct an overall routine inspection. These inspections will fall under basic operation costs. They will allow you to identify any potential maintenance issues plaguing your property.
Once you have identified these issues, you can take the necessary steps to repair damaged property and replace malfunctioning equipment to ensure everything is in good working order.
By creating a timetable for home inspections, it will be easier for you to create a schedule for your tenants to avoid disruptions in their daily lives.
You can also benefit from having a timetable for routine maintenance. It will help you to remember when you should inspect certain items and whether or not they are in good working order.
Hiring property managers to help you with the day-to-day operations of your building is one of the smartest decisions you can make as a landlord. Property managers can help take a lot of pressure off your shoulders by handling crucial tasks such as finding new tenants, tax insurance, enforcing rules and regulations in the property, and ensuring everyone lives in a safe and healthy environment.
Property managers can also give you investment advice to help optimize your financial position and understand the 50 rules of thumb in real estate.
No matter its square foot size, a property is an investment you can't afford to miss. If you fail to maintain your property, the depreciation of its value is inevitable. But if you are willing to invest in a property maintenance schedule, it is easy for you to help your property stand the test of time. It's just one of the most valuable investments you could make as a landlord.
If you are looking for a property management company that you can rely on, feel free to give us a call. Our company is trusted by landlords and tenants alike for our quality work and courteous service. Don't forget to check out our website too!
