Rental property suffers a lot of wear and tear from tenants and visitors alike. Smart property owners don’t wait for things to break before fixing them – they proactively inspect all important parts of a building’s systems and engage maintenance services to keep everything in working order.
Periodic inspection
Property management companies know that the cheapest repair is the one you don’t have to make, and the best way to prevent damage and mechanical issues is to inspect all systems regularly.
Consider an HVAC for example: an inspection may reveal dirty filters, which are very easy to clean or replace in the moment. If that inspection never happened, those dirty filters will reduce the performance of the HVAC, increasing energy expenses for the same amount of cooling.
As the filter gets dirtier and the system works harder and harder to achieve the same results, there will be greater wear and tear on the machinery, and you will end up having to fix or replace it earlier than you would have – a major expense that could have been avoided or delayed with a little inspection done in time.
Property Maintenance
Commercial properties tend to require more diligent maintenance than residential real estate, because of their different use. Keeping the paint in good shape, all lights and electrical systems operating well, and all plumbing systems clean and working will do wonders for your renter relations and work in your favor when the time comes to negotiate rent increases.
However, if you own a very large property, or more than one piece of rental real estate, it would take a lot of your time to inspect all of these systems and buildings, and give them appropriate maintenance. This is where property management companies come in – for a low price you can delegate all inspections and maintenance, knowing that you are in fact saving money on all the repairs you will not need to do.