Our topic today is how to keep up with maintenance on your property and how to keep those repair costs low.
Move In Preparations
First, always get your home right maintenance-wise before a new tenant moves in. Any maintenance or repairs you skip will come back to haunt you. Tenants will complain about things not being ready, and they will immediately ask for work to be done, so you’ll have to make the repairs anyway. Get all the work completed in advance. This will save you time, money and occupancy opportunities with tenants.
Tenant and Owner Responsibilities
Know the difference between what a tenant is responsible for maintaining and what the owner is responsible for maintaining. Generally, tenants are responsible for the basic, ongoing upkeep of the house. Normal wear and tear is a tenant responsibility but major repairs will fall to the owner. This includes problems with the air conditioning or heating, the hot water heater, appliances and plumbing. If the tenant breaks something, that will always be charged back to the tenant.
Always use preventative maintenance practices. Before the change in seasons, have your heating and cooling systems checked. Have your hot water heater inspected and make sure there isn’t rust on the pipes or calcium building up. These things will save you from major repairs and floods to the property.
Warranties and Insurance
There are home warranties available to property owners which can save you money, especially if you have experienced problems with major systems and appliances in your house. It’s also important to check and make sure you have the right insurance coverage. Sometimes, an owner won’t have the right policy in place, and when something happens, it’s not covered. That can be a huge cost, so check with your insurance agent to ensure you have right landlord coverage.
These things can help you save money on the maintenance you perform at your rental property. If you have any questions, or need any help, please contact us at Paramount Property Management & Realty.