Property Maintenance Tips

Just about everyone takes care of their maintenance on their personal home, for most of us, it’s about appearance and pride in our hard work. When little problems are looked over, they can quickly become even bigger problems. As owners, we usually address these problems in a timely fashion. As an owner of investment properties, it is easier to become less diligent with maintenance concerns.

After placing a qualified tenant in a rental, it is vital to ensure that they maintain the integrity of the home. Neglect can do more than just hurt an owner’s return on their investment, but can become extremely costly and be quite a headache.

Working with your management company to ensure the tenants are following the lease is the key to success! But it takes teamwork. As the owner of the property, we must work together to ensure that maintenance issues are handled in a timely manner.

Here are a couple of tips to make sure your investment property is in tip-top shape!

HVAC CHECK UPS!

Have the heating and air conditioning system cleaned and inspected at least twice a year for safety and efficiency. Professional HVAC companies typically offer very cost-effective service contracts where they clean out and perform a thorough check of the system. Also, remember that the filters should be changed monthly. This will allow the system to run more efficiently and will place less wear and tear on it. Keep all vegetation cleared away from the exterior air conditioning unit to allow for proper airflow and function. These should be tenant responsibilities; however, tenants often don’t do this as often as they are supposed to, which is why it is so important to have thorough inspections to check these items.

INSPECTIONS- This is a major one!

Routine inspections can have a profound impact on the longevity of your rental property, no matter the time of year they are conducted. Property Managers who just take photos of a few rooms are doing a great disservice to you and your investment property. You should be receiving a copy of each inspection report with photos at least twice a year. If there are only 5 photos and you can’t really see any of the structure in them, you have a BIG problem.

We check for things like water leaks, broken windows, rotting wood, or full gutters while inspecting the exterior of your property. Tenants are likely to miss these kinds of issues during the course of their tenancy, especially if they are not taking an active role in exterior property maintenance.

After all, many tenants that do participate in property maintenance assume that “maintenance” includes just the interior. By regularly monitoring the exterior of your investment property, we will be able to spot problem areas before they become major issues.

Inspections are absolutely vital. Conducting two inspections a year on the inside of the property can save YOU MONEY. Occasionally there comes a time that a tenant(s) will willfully destroy a property or not maintain it. At this time, an emergency inspection can take place without invading the tenant’s privacy, by over-inspecting (which is prohibited by law). Sending in an educated inspector to check under sinks for leaks, pests, cleanliness, wall damage, and upkeep assures our owners that the home is in good, clean condition.

Inside of the home, each smoke/CO2 alarm should be checked for functionality and that it meets current codes or standards set by the fire marshal. Connections and P-Traps under sinks should be checked to ensure that they are functioning properly. Each faucet should be checked for proper water pressure and that hot water is getting to them in a timely manner. Inspectors should also be keeping an eye out for space heaters and other items that indicate there could be a larger issue with the utilities and also pose safety hazards.

Thorough Inspections will not only help ensure the structure of your property stays sound throughout the year, it will also prevent costly repairs down the line that may displace your tenants, and dip into your monthly revenue.

Owning an investment property requires a little more work than simply collecting rent payments, paying the mortgage/insurance, and pocketing the profit. Make sure as the investor you are choosing a management company that always looks out for your best interest!