Regular maintenance is the key to successful property management in Woodstock. We know this, because we’ve been professionally managing, leasing, and maintaining investment properties for years. We understand the importance of routine repairs because we see the effects of good and bad maintenance policies every day.
It really comes down to money. Regular maintenance will save you money. It will also protect the condition and the value of your investment - which also means money.
Prioritizing routine repairs at your Woodstock rental property will minimize the emergency repairs you have to make. Preventative and proactive maintenance will always cost less than an emergency response. You’ll pay your vendors less, you’ll reduce the inconvenience imposed on your tenants, and you’ll protect the condition of your investment. Deteriorating rental homes rarely earn top dollar, and they often have high turnover and vacancy rates. Those are expensive consequences.
Budget for all of the necessary routine repairs. Respond immediately to tenants when they submit a maintenance request. And, always pay attention to the common maintenance issues that pop up in rental homes, such as water leaks and roof repairs.
Maybe you feel like there’s no real hurry when a tenant makes a minor and simple maintenance request. However, if you’re slow to respond, or if you ignore it altogether, two things happen. First, you put your property in danger. Second, you show your tenants that you don’t care about maintenance all that much. That’s going to chase them out of your home. Or, it’s going to make it easy for them to ignore basic repair needs, too.
Delaying repairs won’t make them go away. In fact, the more you wait, the more expensive it’s likely to become.
If your HVAC system has a meltdown during the hottest afternoon in August, you may find yourself wishing you had hired a tech to make those inexpensive annual service inspections. You don’t want to replace the roof, install new flooring, or call a plumber for extensive repairs.
This is why it’s so important to pay attention to routine and preventative maintenance. It minimizes your repair costs.
Reducing Emergency Maintenance Calls
One of the most important reasons to make regular maintenance a priority is that it reduces the number of emergencies you need to respond to.
Failing to conduct regular maintenance will almost certainly lead to an increase in emergency repairs, which are not only costly, but also inconvenient to you and your tenants. Often, small repairs and maintenance tasks, such as changing air filters or cleaning gutters, are neglected. However, these seemingly minor tasks can make a significant difference in the long-term health of a property.
Establishing a routine maintenance schedule ensures that these tasks are completed regularly, which prevents an accumulation of small issues that can turn into larger, more expensive repairs down the line. In the end, a consistent routine of maintenance will reduce the stress of emergency repairs and contribute to the overall health and success of a rental property.
Increase Responsiveness with a Policy on How to Request Repairs
You’ll have an easier time keeping up with regular maintenance when your residents understand their own responsibilities.
Tenants need to understand the urgency in reporting maintenance needs right away. Deferred and unreported repairs will only lead to higher costs and more extensive problems.
The best way to handle this is by establishing a process for reporting maintenance needs in your lease agreement. Provide a way for your residents to put their request in writing, and follow a consistent procedure for contacting vendors and handling the repair. Then, follow up with your tenant.
When you have a documented repair need, you can use it to follow maintenance trends and understand how frequently things tend to go wrong at your property. This is valuable data on routine repairs that can help you make decisions later.
Respond Immediately to Woodstock Rental Property Maintenance
Once you hear from your tenants that there's a problem, take action as quickly as you can. This is the best way to reduce your rental property maintenance costs. Tenants are always going to expect a well-maintained property that’s safe, habitable, and comfortable. When they sign a lease agreement and pay rent every month, they are right to expect their rental home will be functional.
Responding with a sense of urgency will save you money and also limit the risk that your minor repair will become a huge problem. You’ll also score some points when it comes to tenant retention. Your renters will feel comfortable knowing that you take maintenance seriously.
Regular maintenance requires a fast and consistent response from you or your property manager.
Preventative Maintenance is Routine Maintenance
Make preventative maintenance a priority. This will reduce repair costs and extend the life of your rental home’s most expensive systems. Set up a preventative maintenance schedule seasonally or annually to make sure you’re doing things like:
Testing smoke detectors and carbon monoxide detectors
Scheduling inspections and servicing of your HVAC unit
Inspecting the roof and any chimneys or fireplaces
Flushing the water heater and any outdoor irrigation systems
Paying attention to pest control with an ongoing service
Checking for water, gas, and sewer leaks
This type of proactive maintenance will require a slight investment of time and resources, but it will save you a lot of money on maintenance and repairs in the long term.
Committing to Regular Maintenance Requires a List of Preferred Vendors
If you want to invest in regular maintenance and keep your rental property in excellent condition, you’ll need a great team of vendors and contractors who are licensed, insured, and affordable. Establish relationships with plumbers, electricians, roofers, HVAC technicians, landscapers, and experts in things like drywall, flooring, and appliances.
Not sure where to find a great vendor? Ask for referrals from other landlords, investors, and property managers.
Taking care of your rental property’s maintenance needs isn’t optional. You have to keep the property well-maintained if you want to attract tenants, retain those tenants, and charge the highest amount of rent you can. You also want to preserve the condition of your investment and allow your asset to grow in value.
Make regular maintenance a part of your investment plan. If you’d like some more advice on this important topic, please contact us at Clients 1st Property Management. We can help you profit from your Woodstock rental property.