Landlords and property managers alike now the importance of keeping their rental properties well maintained. It is not only in the landlord’s financial interest to ensure that the property is maintained and kept in good condition but tenants are entitled by legislation to have a habitable and safe living environment.
Carrying out regular maintenance will not only keep your tenants happy but will help prevent damage to your property which in turn will save you money.
A Tenant’s Prospective
Tenants viewing a neglected property are less likely to want to rent it. If your property appears uncared for it will likely attract the same type of treatment from a tenant.
This not only puts you at risk of not finding the best tenant for your property but also increased vacancy times and not being able to achieve maximum rents.
If you were putting a house up for sale, you’d want it to be in the best possible condition to attract the highest price. Finding a good tenant is no different.
Maintenance & ongoing management
By not carrying out ongoing maintenance and repairs as they are required it is likely to be a more costly exercise. This can also result in unhappy tenants which may result in a higher turnover of tenants effecting not only the wear and tear on your property but cash flow.
It is also important to remember that many landlord insurance providers expect homeowners to maintain their property to the standards of the relevant Tenancy Act. Failure to comply with the insurers guidelines may results in claims being denied.
Keeping the property cosmetically pleasing is also important. Doing quick paint touch ups on interior walls in between tenancies is a simple task and reasonably inexpensive. The same approach applies to replacing aging fixtures and appliances. Ask your property manager to give you an outline of items that may need updating so you can plan ahead.
Tenants are more likely to take pride in a well-presented property and treat it as if it were their own.
It is important for landlords to be aware inform you of a problem in need of repair, you need to act promptly in actioning the repair. To help lesson unexpected repairs, it is good practice to have a preventative maintenance plan in place.
Visual inspections can assist in locating potential problems within the property and maintenance can be actioned before they worsen.
The landlord may like to arrange routine maintenance on an annual basis such as checking drains and gutters, checking for signs of mould or damp, having air conditioners serviced, mending any broken or leaking fixtures and generally inspecting and repairing any aspects of the property that could present problems.
Examining fences and garden walls to ensure that they remain in sound condition, together with inspecting the roof damage, is vital.
Landlord maintenance matters – not just for peace of mind, but for tenants, insurers and your bottom line.
Contact us today if you would like any further information on how we could implement a preventative maintenance plan for your investment property.
By Anita Genrich