How to Manage Your Property Maintenance and Why it's Important
Monday, May 7, 2018
About 27% of Americans believe that real estate is an excellent investment, making the property management field a hot market right now. That's especially true in places like Florida, where high quality rental properties are always in high demand. You may think that property management is just handling tenant’s money and fixing the occasional clogged sink; however, great property management involves much more than that.
The best property managers understand that property maintenance can either make or break a deal with a tenant. In many cases, efficient property management is actually the key to consistently renting out property. It attracts potential buyers and renters to the property and can help you improve your relationship with long-time tenants.
So how can you efficiently manage your property maintenance? Here are some tips.
Create a Schedule
When it comes to anything in life, if you're organized, you're going to be more successful. Organization also applies to property maintenance. Create a maintenance schedule to help you prevent any potential problems before they occur. If your maintenance team inspects the houses for rent or the property for rent on a weekly or monthly basis, then it's unlikely that any issues will go unresolved for a long stretch of time. Plus, this kind of regular, ongoing maintenance will identify problems that would have resulted in expensive repairs.
For instance, ongoing pool maintenance can ensure you don't have to close your pool for repairs in the peak of the summer tourist season. So whether you work with an in-house maintenance team or third-party vendors, stick to a strict maintenance schedule year round.
Keep Everyone in the Loop
If you do choose to create a maintenance schedule, it's important to communicate that with your tenants. In many states, it's actually illegal to show up to a renter's house unannounced if you plan on doing work. Print out a copy of your maintenance schedule and slip it under the door of each of the houses you're renting out so everyone is aware of the inspections. Also, leave your phone number and other contact information so tenants have that on hand in case they have any problems with the inspections going on.
Test All Detectors
Imagine if a fireworks ignited in one of your houses and the smoke detector wasn't working. By not having a working smoke detector, you're risking the lives of your tenants and also some serious lawsuits. During regular inspections, take the time to test both the smoke detectors and the carbon monoxide detectors. Carbon monoxide detectors may often be forgotten about, but make sure checking them becomes one of your top priorities.
Consider Working With Property Management Services
To make the most of your time and money, consider working with property management services to ensure nothing ever slips through the cracks again. If you manage a number of properties and tenants, then these types of rental management services can offer a number of savings.
Being a property manager is a lot of work. Not only do you have to worry about the tenants in your houses, but you also have to make sure the property maintenance is up-to-date, you also have to ensure your tenants are happy. If you want to focus more on the latter, then it's time to look for quality rental management services.
If you have any questions about property management services please give us a call at 407-261-5610