Property maintenance services for your rental properties
A stitch in time saves nine, and good property maintenance is key to keeping your rental properties in great shape for a longer time, and making more money out of them. Most property management companies include maintenance services in their property management packages, for the very simple reason that real estate must be in working order if you want to rent it well.
Property management is all about making the property owner’s life easier while increasing income, and property maintenance is a large part of this. Think of all the basic upkeep a rental property needs: paint jobs, gutter cleaning, seasonal maintenance for HVAC units, cleaning and maintaining drains, and so on.
Now think of all the issues that can arise in residential or commercial properties if maintenance is insufficient or lacking: clogged drains, furnace malfunction, electrical short circuits. Or even more serious ones – lack of maintenance can result in personal injuries or fires, and this is a possibility you do not even want to consider.
In short: periodic inspection and maintenance saves you a lot of money by preventing costly issues that could require emergency repairs and cause renter dissatisfaction.
Residential property maintenance
Frequent inspections and maintenance of residential properties are a smart investment: they will maintain your property value, keep your renters satisfied and make them look after your property better too.
Residential property maintenance includes a host of small tasks, such as checking the batteries of smoke detectors, the proper operation of HVAC systems and lighting, keeping gutters and sidewalks clean. There are bigger tasks that are less frequent but are also important parts of maintenance, such as repairing pavements, roofing, and paint.
Failing to do these can place you in breach of your own lease terms. Another important factor to consider is that dissatisfied renters, who feel like you don’t care about your property, will not look after it either. Careless renters will accelerate the decay of your real estate and decrease your property value. Lack of upkeep and maintenance adds up quickly into bigger issues which may end up needing large repairs, or replacing equipment or appliances.
Besides preventing decay or damage to the property, you want to ensure that renters are safe from any preventable personal injury, which could lead to lawsuits, an increase in insurance premiums, and bad PR.
Commercial properties
Frequent and adequate maintenance of commercial properties is even more pressing, because unsightly or unsafe premises will not only affect your renters, but also their image and their customers’ experience.
As a property owner, you may not have the time to visit commercial properties every other week to check every lightbulb and AC filter, which is why investing in good property management is such a smart move.
Your renters will be reassured by frequent inspection and maintenance visits, and they will appreciate receiving immediate support for emergency repairs. This will strengthen renter relations, resulting in longer leases and easier rent increase negotiations.
