Preventive Maintenance for Rental Property Owners
When renting out your property the hope is that tenants will treat the space kindly and maintain it well. How can you ensure your property is protected? Take proper precautions and work smarter, not harder. Performing preventive maintenance on your investment properties will keep you from paying costly utilities, damage repairs, and renovations. At SERVPRO of Edmonds we enjoy working with Property Managers and helping them protect their client’s investments. Education and preparedness is a great part of success and we have put together some helpful tips for rental property owners or managers:
- Know Your Tenants Before signing a lease, always have a clear understanding of who you are renting to; set your expectations accordingly. Are they responsible? Trustworthy? Clean?
- Set Up a Preventive Maintenance Schedule
Put together annual and monthly maintenance schedules to share with your tenant so that they are aware of your plans. Do regular inspections to check on any problem areas in the home, such as drafts, wall cracks, and leaks.
Some items to include on your maintenance schedules are:
- Pest control and prevention
- Carpet cleaning
- Landscaping upkeep
- HVAC inspection and cleaning
- Kitchen appliance inspection
- Maintenance tasks can pile up quickly. If you or your tenant feel overwhelmed, consider hiring a professional to handle one or more tasks. While cost is a factor, outsourcing maintenance tasks can conserve your most precious asset: time. Choose a professional company that is licensed, bonded, and insured.
- Track Expenses. Maintaining a property appropriately will help keep large costs down, maintenance costs can certainly cut into the bottom line of your investment if you’re not careful. Keep records to track profitability.