Real estate can be a great investment, but managing rental properties is no small task.
You'll face a variety of challenges, and knowing how to deal with them is very important. Property maintenance is one of the aspects you'll need to stay on top of, and it's a key part of keeping your tenants happy. Maintaining good tenant relations can have a huge positive impact on your experience as a landlord.
So why is property maintenance such an important element here? Keep reading to find out.
Keeping Tenants Happy
Finding tenants for your rental property can often be a difficult process. It takes both time and money and while your property is empty, it won't be generating an income.
When you find good tenants, it's important to work to keep them around. If they decide to leave, you'll have to work to find new tenants again.
You have various responsibilities to your tenants, and keeping the property in good shape is one of them. They should take care of simple day-to-day tasks like cleaning, changing lightbulbs, and replacing smoke alarm batteries.
As the landlord, you're responsible for things like:
- Ensuring HVAC systems are working
- Making sure electrical systems are safe
- Dealing with plumbing issues
- Structural maintenance
Landlords who stay on top of these things will typically experience better tenant retention. If you fail to do this, you may find yourself looking for new tenants sooner than you'd like. It's also worth noting that you're legally responsible for making sure the property is safe and fit to live in.
Dealing With Property Maintenance
In many cases, issues will come up unexpectedly. Your tenant may then contact you about dealing with things. This can prove quite inconvenient.
If a pipe suddenly bursts, for example, you'll need to get a professional plumber in immediately. This may not always be easy, and things could be very bad if your tenant can't get ahold of you or if they're not home when it happens.
Planning property maintenance is highly recommended. A professional property inspection can highlight any issues before they become significant problems. A property management company can help you set up an inspection schedule to cover this.
During these, an inspector can look out for any signs that most people would never notice. They may then be able to determine if any problems are imminent, and you can carry out preventative maintenance before anything bad happens.
Property maintenance can cost a lot when there are major issues. Consistent preventative maintenance will keep your property in good shape, helping minimize overall costs.
A home that's well looked after will also maintain a higher property value. This will allow you to charge a higher rental price and will be beneficial if you eventually decide to sell it.
Professional Property Maintenance
Property maintenance is essential if you want to keep tenants happy. This can directly affect the profits you make on your property, so you should never neglect maintenance.
Sunnyside Properties is a leading property management company based in Orlando. We can organize routine inspections and property maintenance for any of your rental homes and have over 25 years of experience in property management. Take a look at our maintenance services page to find out more about how we can help.
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