Maintaining a property can be a full-time job in and of itself. From keeping the grounds clean to managing repairs and renovations, a lot goes into keeping a property in tip-top shape. And if you’re responsible for managing multiple properties, the challenges can multiply.
Maintenance is one of your top priorities if you are a residential landlord or property manager. Failure to properly maintain a property can result in costly repairs, unhappy tenants, and even legal action.
So what are some of the most common challenges those responsible for maintaining residential properties face? Read on to find out.
Whether it’s a burst pipe or a major storm, when something goes wrong, you need to act fast. Wasting time means risking serious damage to the property.
Not only do you need to prepare for emergencies, but you also need to have a plan to deal with them. This means having a list of contractors you can call at a moment’s notice and a budget set aside for dealing with unexpected repairs. This can also mean working long weekends to resolve the problem quickly.
To help you deal with emergencies, it’s a good idea to have a comprehensive property insurance policy in place. This will help cover the cost of any repairs you need to carry out and any losses you may incur if the property is uninhabitable for a period.
Dealing with Tenant Issues
Tenant issues can be challenging dealing with, especially if you have many properties to manage. You must handle each problem quickly and efficiently while maintaining good relationships with your tenants. If you keep ignoring or delaying addressing tenant issues, they will eventually become unhappy and may even move out.
To deal with tenant issues effectively, have a good tenant management system in place. This will help you track all the problems you need to address and the progress of each issue. It will also allow you to communicate with your tenants quickly and efficiently.
For instance, if you’re dealing with a repair request, you can use the system to let the tenant know when you will carry out the repair and what they need to do in the meantime. This will help keep them happy and reduce their risk of moving out.
Decide Whether to DIY or Hire the Pros
There are some maintenance tasks that you can carry out yourself, while others will require the help of a professional. For example, something like changing a lightbulb is a relatively simple task that most people can do. But it’s best to hire a professional if you need to carry out electrical work or plumbing.
One way to decide whether you should do a task yourself or hire a professional is to consider the cost of the repair. If it costs a lot of money to fix, it’s probably worth hiring a professional. But if it’s something you can quickly fix yourself, then it might be worth doing it yourself to save money.
Let’s say one of your tenants reported a broken garage door. While this may seem like a simple repair, it is best to hire the pros to fix it. This is because garage doors are heavy and can be dangerous to repair if you don’t know what you’re doing.
So, when in doubt, it’s always best to hire a reliable professional to fix the garage door. Not only will they be able to repair quickly and safely, but they will also likely have the necessary tools and equipment. This will save you time and money in the long run. Just make sure to rely on experienced professionals who already have lots of good reviews in repairing garage doors to ensure you get your money’s worth.
Keeping Up With Preventive Maintenance
Preventive maintenance helps reduce the number of necessary repairs, saving you time and money in the long run. But it can be difficult to stay on top of preventive maintenance tasks when managing multiple properties.
One way to stay on top of preventive maintenance is to create a schedule for each type of task. For example, you could create a schedule where you change the air filters at all of your properties every three months or have the gutters cleaned twice a year. Creating a schedule will ensure that you are able to complete preventive maintenance tasks on time.
It also helps if you already have a list of contractors you can rely on to carry out these tasks. This way, you can schedule the work with them and don’t have to worry about finding new contractors whenever a task needs completion.
Improving Your Properties’ Curb Appeal
The curb appeal of a property can greatly impact its value and how easy it is to rent or sell. If a property has poor curb appeal, it will be harder to find tenants or buyers, resulting in lower rental rates or selling prices. You should also include improving curb appeal in your regular maintenance tasks.
Here are some ways you can improve the curb appeal of a property.
- Invest in Painting the Exterior
- Clean Up the Landscaping
- Install Outdoor Lighting
- Replace Old Hardware
- Add Color with Flowers and Plants
These are just a few ways you can improve the curb appeal of your properties. By making even small changes, you can make a big difference in how your properties look — and how easy it is to rent or sell them.
Staying on top of all the necessary repair and maintenance tasks is important. This can be a lot of work, but keeping your properties in good condition is worth it. By following a regular maintenance schedule and knowing when to DIY and hire a professional, you can save time and money in the long run. And don’t forget to improve your properties’ curb appeal — it can make a big difference in how easy they are to rent or sell.