by The importance of the proper upkeep and maintenance of a rental property cannot be overstated. All landlords need to prioritize protecting their investment, and to do so, they have to conduct regular property maintenance. Properties that are well maintained typically magnetize better quality tenants who are more likely to care for the property as if it were their own. As Kanat Sultanbekov points out, timely upkeep can also prevent small issues from escalating into costly problems, thereby, saving property owners money in the long run.
Kanat Sultanbekov talks about a few best practices for rental property maintenance
Making sure that a rental value is always in perfect condition is instrumental in retaining its market value, and can even elevate its worth over time. Landlords need to remember that rental properties are not simply a source of passive income. They are a major investment that requires continuous care and attention. Best practices for rental property maintenance include:
- Conducting regular inspections: Frequent inspections are important to detecting potential issues before they end up escalating into costly repairs. Maintenance inspections must be conducted quarterly or semi-annually. During the inspection process, every important aspect of the property has to be checked, right from roof integrity and gutters to HVAC systems, electrical systems, plumbing and the condition of appliances. One must also remember to provide appropriate notice to the tenants prior to the inspections.
- Encouraging tenants to report issues: Landlords or property managers should try to make it easy for tenants to report any kind of maintenance issues. No matter whether it is a crack in the wall, a faulty appliance or a leaky faucet, timely detection can save a good deal of hassle and costs. Clear communication channels must be established with the tenants, no matter whether it is through phone calls, text messages, emails or even a dedicated online portal.
- Prioritizing preventive maintenance: Preventive maintenance generally involves regular check-ups and minor repairs. They help in steering clear of larger and more expensive issues down the line. The process would include tasks like servicing HVAC units, cleaning gutters, checking smoke and CO2 detectors, as well as inspecting roofing and insulation. Doing so can significantly extend the life of varied components in the property and save money in the long run.
- Hiring qualified professionals: For complex tasks like HVAC system repairs or fixing electrical wiring, the assistance of licensed professionals is immensely important. Incorrect fixes can eventually lead to more severe problems and liability issues.
- Keeping a maintenance fund: Unforeseen maintenance concerns can swiftly drain the resources of a landlord. Hence, they should typically set aside a portion of their rental income for a dedicated maintenance fund.
- Conducting thorough move-in/move-out inspections: Before a new tenant moves into the house, a detailed inspection has to be done to document the condition of the property. The landlord must take photographs, make notes of any existing damage, and have the tenant sign off on these records. This practice protects both parties and can be quite helpful in identifying and addressing damage.
As Kanat Sultanbekov says, in addition to following the pointers mentioned above, landlords must also educate the tenants about their responsibilities and how to use appliances correctly in order to help prevent unnecessary damage.
