Keeping your rental occupied means staying on top of maintenance responsibilities. If you let things slide, you run the risk of losing occupants - and income. That's why maintaining your property needs to be an ongoing priority.
Curious to learn more? Read on to discover an investor's guide to basic property maintenance!
Do Inspections
When you own an investment property, make inspections a focus. While you don't want to inspect properties too frequently, you should do so at least twice a year. And if you really want to be careful, you can do quarterly inspections.
Look for signs of problems that could snowball into expensive issues. For instance, look for stains on ceilings that could indicate roof leaks. Look for mold growth in showers and bathtubs.
Check your roof and HVAC equipment. And look for signs of aging appliances. You may need to budget for replacements.
Respond to Repair Needs Quickly
Don't leave your tenants hanging. To ensure the best tenant experience, you'll want to address repair needs right away. When someone files a request, communicate with them to confirm the problem and schedule a repair person.
When you're prompt in responding to repair needs, tenants may be more likely to renew their leases. And you'll help keep your rental property in better shape.
Small issues can include touching up paint or replacing lightbulbs that are out of reach. Try to address these items within 24 hours.
Give tenants a timeline for larger repairs. If there are delays, offer tenants incentives, like gift cards. And be sure to have a positive connection with a contractor who can help respond to repairs after hours, if needed.
Use Quality Contractors
Make sure you're entrusting your rental property to skilled technicians. Quality contractors may cost a little more, but you won't need to have them back as often. That's because they'll do the job right the first time.
Look at online reviews to verify that a plumber or HVAC technician has positive endorsements. And be sure that any contractor you hire is insured. Otherwise, you could be liable for costs incurred if someone is injured on your property.
Schedule Preventative Maintenance
Routine maintenance procedures, like furnace checks, need to be part of your rental property care plan. Don't just wait until something goes wrong to take action.
Being proactive about investment property maintenance can prevent bigger repairs later. For instance, neglecting to trim large tree branches could result in accidents or property damage. Not cleaning gutters can lead to roof problems and leaks.
Use software or an online calendar to manage appointments. Keep records of repairs so you can understand the financial impact of maintenance costs.
Invest in Property Maintenance
Property maintenance helps ensure that your investments hold their value. Schedule preventative maintenance to keep major systems running smoothly. And respond to repair needs promptly to keep tenants happy.
At PMI Station, we prioritize quality service in helping our Kansas City clients make the most of their investments. With over 20 years of industry experience, we can help you with residential and commercial properties. Contact us today to learn more!
