Property maintenance is one of the most time-consuming and expensive parts of owning an investment property. Sometimes it seems like you've repaired one thing, only for another to break down.
Ongoing repairs can quickly eat into your profits and make you wonder if you should rethink your property investment aspirations.
Fortunately, there is a way to reduce repair costs and streamline your property maintenance tasks for good. Maintenance coordination is the most effective tool for managing your property's maintenance needs.
It also helps preserve your property's value and avoid costly repairs. Read on for our top tips on how to get it right.
Create a Maintenance Coordination Schedule
Creating a maintenance schedule is an excellent way to manage your landlord responsibilities for property maintenance and encourage lease renewals. Make a note of all necessary routine and maintenance tasks and allocate them to an appropriate space on your calendar.
Your list should include things like:
- Gutter cleaning
- Routine HVAC servicing
- Annual roof inspections
- Lawn care
- Checking safety equipment
Spreading tasks over the year like this helps you budget and limits inconvenience to your tenants.
Compile a list of pre-vetted contractors you can call on when necessary. Ongoing relationships with qualified and licensed local professionals can ensure you get a speedy response in emergencies.
Carry Out Routine Property Inspections
Property inspections are your best opportunity to check your property's condition during a tenant's lease. They allow you to check the interior and exterior of the unit for maintenance issues and preempt any repair problems.
Some of the maintenance issues to look out for during an inspection include:
- Water leaks
- Pest infestations
- Faulty appliances
- Inefficient HVAC systems
You must also test your smoke and carbon monoxide detectors during this visit, and use this time to do simple fixes like replacing the batteries in these devices.
A property inspection can also reveal whether residents are complying with their tenant responsibilities and the terms of your rental policy.
Practice Effective Communication
An online tenant portal is an effective tool for managing tenant repair and maintenance requests. You can also use it to communicate with your maintenance vendors and keep track of work orders and invoices.
Clear-cut communication between vendors, tenants, and landlords is vital for streamlining maintenance efforts. It helps you coordinate the work and minimize inconvenience for your tenants.
You must give your tenants 24 hours' notice before entering your property for routine inspections or maintenance work.
Hire a Property Manager
Maintenance coordination can become a stressful undertaking for busy landlords. These tips will help you stay on track, but the best way to ensure your property stays well-maintained is by enlisting professional help.
PMI Capital Region can assist you with routine property inspections and effective property maintenance. Our relationship with reputable and experienced maintenance professionals ensures only the best care for your property.
We are backed by a growing franchise with over 20 years of experience, and our team is comprised of dedicated local property experts who are committed to your success.
Get on board with Bethesda's leading property management company today.
