Its strongly recommend to carry out regular preventative maintenance that helps protecting the properties value and to keep your tenants safe and avoid costly emergency repairs or even legal disputes.
One of the most important aspects to owning a rental property is to make sure it’s kept in good condition. It is therefore in the best interest of a Landlord to always deal with the maintenance of their property as promptly as possible, ensuring that the repairs are completed before the problem escalates and becomes a more costly task.
A prompt response to a tenant’s maintenance requests is the key to a healthy relationship between the tenant and landlord. Keep in mind that how you maintain your property will determine the type of tenant you attract. Consistent maintenance is sure to repay itself in the form of high quality tenants and preserved property values. Most tenants feel more settled in a well maintained property, making the property their home by looking after it and staying on as a long term tenant. When the tenants decide to move on, new potential tenants viewing the property will see a well-loved home, thereby increasing the landlord’s chances of securing a suitable tenant early on in the marketing process.
Compliancy, however, is not the only motivation for continued maintenance. Ensuring your property is properly maintained could affect its value for re-sale and future leasing.
So what does consistent and proper maintenance involve?
Examples include having the property cleaned prior to the first tenant moving in, having pest control carried out annually, having a building inspection carried out every year, planning to re-paint internally every five to six years, replacing carpet every five to six years, and trimming trees every other year.
Timeliness is one of the most critical factors when it comes to maintenance. This involves the property management supervisor advising the landlord as soon as possible of any issues, and receiving the authority to proceed with the required work as soon as possible. The longer the problem goes untreated, the more likely it is to get worse and cost more in the long run.
Having a preventative maintenance plan in place with your property management supervisor is a great way to keep track of items that require future attention, and gives you the opportunity to put in place a finance plan to fund the maintenance projects. Preventive maintenance requirements are generally identified during bi-annual inspections, so it’s important to carefully read all reports and check on all photos sent by your dedicated property management supervisor and ask questions if you feel the need to.
An investment property is a valuable asset and should be managed accordingly, including routine required and preventative maintenance. The better you look after your investment now, the better it will look after you in the future.
To summarise, we strongly recommend carrying out regular preventative maintenance to protect your properties value to keep your tenants safe and avoid costly emergency repairs or even legal disputes. Aston Pearl Real Estate Broker charges reasonable property management and supervision services rates if you don’t have the expertise and the time to do it yourself.
