Most landlords want it both ways. They want their tenants to stay for a long time, take care of the property, and pay on time. Yet, too many landlords try to save money by avoiding needed property maintenance. The fact is, tenants stay, pay, and are more careful with a well-maintained property. They respect the home when they see that you do too. No matter how ideal the tenants, appliances break and systems wear out. Little things will need attention. You can maintain your rental property more cost effectively. We’re sharing tips for landlords on how to maintain your property for less.
Prepare the Property
Prepare the property between tenants to take care of all safety and health issues. As the property owner, it’s your responsibility to meet basic habitability standards and codes. This will help you avoid fees and lawsuits. Plus, a clean and well-maintained home with good curb appeal rents more quickly.
Plan for Maintenance Costs
Maintenance costs are simply a part of owning rental property. On average, owners will need to set aside one to two months of rent per year for routine and ongoing maintenance and turnover costs. Save even more if your home is older.
Check Preventative Maintenance Issues
Look for problems that can become more expensive if repairs are left for too long. Seasonal maintenance and regular inspections inside and out can help you solve small problems before they escalate.
Respond Promptly
When maintenance is required, take care of it right away. This reduces risk and liability. Plus, your tenants will feel valued when you respond to their needs. Tenants get frustrated quickly when they have a hard time contacting you. This can lead to expensive tenant turnover.
Preferred Pricing
Professional property management companies can get their owners preferred pricing from vendors. When you work with a rental property management company, you can expect discounts on service, appliances, and materials.
These steps can help you get the best of both worlds – happy tenants who stay and pay, and a less costly house maintenance bill. If you need help with your property maintenance checklist, and you want to reduce costs and ensure quality, please contact us at Real Property Management Gold.
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