Maintaining your property is a must in order to protect it. Not only is a well-maintained property an excellent asset in your investment portfolio, but it’s also essential to prevent certain damages from happening in the first place.
Regular maintenance is one of the most essential duties of a landlord, and it keeps their property at a high standard for their tenants.
But what exactly does maintenance mean as a landlord? Here are some maintenance examples that a landlord is required to see through.
keeping the estate in good condition for the tenants
ensure that their properties are compliant with the law
repairs to
broken windows
roofs that leak
electrical wiring
gas pipes and boilers
heating and hot water
chimneys and ventilation
sinks, baths, toilets, pipes, and drains
guttering that needs cleaning
minor remodeling - such as painting or replacing flooring, may also be included.
As the examples show, and these are just some examples, a landlord’s day might get pretty busy, so we have prepared for you 9 essential maintenance tips to make your life easier and help relieve some of that stress.
Highlighting each party’s duties
Communication is a very important factor in a landlord-tenant relationship, so make sure from the start that the tenant knows what you will be taking care of and what duties are his. This will prevent possible misunderstandings between you two.
Maintenance done by the tenant
Tenants may sometimes negotiate for a lower rent by offering to upkeep the property. According to these San Diego property managers this offer may be accepted or declined by the landlord. If the job is not completed correctly, the landlord has the right to back out of their portion of the agreement case in which the landlord is required to finish the repairs. This can relieve a lot of stress off your shoulders, not having to worry about another property, allowing you to have more time for other things. However, we recommend you wait a while before making this offer to the tenants to see if they are organized, responsible people that are actually capable of doing the maintenance on their own so they don’t do more harm than good.
Make a schedule and stick to it
Inspect the properties on a specific time interval (ex: once per month) and take notes of everything that needs attention, especially seasonal things, such as the roof in the rainy season. Create an organized timetable to help you stay on top of things, and program ahead reparations that you need to do so you don’t procrastinate or forget about them.
A schedule is proven to be time efficient and makes us more responsible in our tasks.
Research your vendors
Maybe you plan on hiring a team of professionals to help you clean the entire house, mawn the lawn, clean the pool, etc. The best way to choose them is to make research to ensure they have the expertise, experience, and good reviews. Look out for before and after photos, and compare prices and services to make sure they’re the right fit for you.
Systematize your properties
Using the same elements in your properties, such as paint, hardware, and furniture, is highly convenient. This is a great financial help, as you won’t have leftover stock of spare parts that go to just a specific element in one of your properties.
Having a backup stock
Rather than spending time in traffic going to the store, it's better to have a stock of regularly changed items, such as light bulbs, different types of batteries, and even paints. This will make repairs and replacements run more smoothly.
Automate systems
The best way to save time and resources is to automate as much as possible. Having something not require your attention is a landlord’s blessing. Try and buy automated systems, such as time-set sprinklers, programable thermostats, smart lighting, etc.
Contingency fund
The world as we know it is pretty unpredictable, so we must be ready for everything coming our way. What better way to do this than having a ready-to-go fund in case of emergencies to cover our back?
Hiring a property manager
If you own many properties, you might want to consider hiring a property manager to deal with the maintenance in your place. According to these Tampa property managers this comes with a cost, but it could be your ticket to more free time and allow you to scale up to even more properties.
Conclusion
A well-maintained property is an incredible stream of income. However, it can be a challenging job to keep up, especially if you try and do it all by yourself. These tips will help this process run more smoothly.
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