All rental properties are going to need regular and emergency maintenance from time to time, and the way you approach these repairs can have a major impact on your success as a landlord. It’s important to have a maintenance plan in place and to establish a budget. If you can do those two things, you’ll be able to limit the maintenance costs associated with your rental property.
Take a look at ways that you can update your home so that it runs more efficiently. Use energy efficient light bulbs and appliances. Switch out your shower heads and toilets to systems that use less water. Modernizing your home does not cost a lot of money, and it will increase the lifespan of your property’s functions. Make sure that you’re scheduling regular inspections of your air conditioning unit, roof, gutters, heating system and electrical and plumbing systems.
Be strategic when you’re hiring professional vendors and contractors. You don’t want to overpay for service that isn’t going to get the job done. Establish a list of qualified, reliable professionals who will be willing to do great work for affordable prices. Working with a Tehachapi area property management company can help you keep these costs low because they usually receive a volume discount from their vendors. Have a plan in place for when emergencies occur, and take care of those issues right away. Otherwise, you risk paying more for the repairs and upsetting your tenant, who isn’t going to want to stay in your property if you’re ignoring necessary maintenance.
Embrace Preventative Maintenance
Keep your property in good shape over time. This requires regular inspections and a system for tenants to report problems. When something needs to be fixed or replaced, do it right away. Waiting will only cost more money and put your home at risk for incurring more damage. Set up a maintenance budget. If you put a small percentage of your collected rent into this fund every month, you’ll have the money available to make the repairs when they are needed.
Talk to a professional property management company about how you can save money on maintenance. Repairs are necessary to preserve the value and condition of your home. However, they don’t have to bankrupt you. If you need help managing your maintenance costs, please contact us at JBL Associates, where we serve the Tehachapi, Rosamond and California City communities as well as their surrounding areas.