Property Maintenance Tips That Can Save Landlords Money
As a landlord, it’s easy to ignore minor issues, such as broken A/C systems,
appliances, and hot water heaters. By performing regular and thorough upkeep on your rental property in Columbia, you’ll have an easier time catching small problems before they turn into a big and costly expense. Here’s how to prevent problems by performing regular property maintenance.
- Perform Preventative Property Maintenance
Preventative maintenance to your rental property will keep it in great condition for years to come. Common preventative property maintenance tasks include servicing the heating and cooling system, landscaping, appliance repair, painting, plumbing maintenance, checking for leaks, and fireplace cleaning. On average, you can expect your property maintenance to cost 1.5 times the monthly rental rate. As the landlord, you may want to limit the number of visits to your occupied rental property. We recommend accomplishing as much as possible in one or two visits. It may be wise to check plumbing for leaks after a heavy rain storm or snow fall.
- Understand the Laws
Before undergoing property maintenance or repairs, make sure you fully understand property codes and laws in your state. Landlords are required to follow specific actions, including documentation and communication. Before a landlord or technician enters the rental property, the tenant must be notified in a timely manner. Neglecting the laws and codes can lead to expensive lawsuits. In fact, the average cost of tenant maintenance lawsuits ranges from $500,000 to $1,140,000. To fully protect yourself, have a strong insurance policy and hire an expert to help you understand and comply with these laws.
- Appreciate Your Tenants
Your rental property should be looked it as a business. Just like any business, your customer/tenant should be treated with appreciation. This includes responding to property maintenance request and fixing repairs in a timely manner. Your tenants’ satisfaction will improve your turnover rate and turn your current tenants into lifelong customers.
- Respond to Requests Quickly
Landlords must respond quickly to every repair request. After evaluating the urgency of the request, give your tenant an estimated time for the repair. If possible, your tenant must fill out a repair request form so you know who to send and where to send them. After the repair is completed, follow up to see if your tenant is satisfied.
- Tenant Turnover Maintenance
When a tenant moves out, the landlord must make the property rent ready for the next tenant. This means all safety and health issues have been addressed prior to their move-in date. Hire a professional cleaning company to clean the entire property, including the carpets. Inspect all appliances, plumbing, and electrical in the home to ensure they’re in proper working condition. If necessary, fill in nail holes in the wall and re-paint. Depending on your location, the property may need to be re-keyed. Expect to pay anywhere from $500 to $500 to get your property rent ready.
Let Real Property Management Columbia Manage Your Property
Maintaining your property will not only benefit your tenant, but it’ll also help you and your finances in the long run. If you need help managing and maintaining your property, contact Real Property Management Columbia today.