Rental property maintenance requires planning, budgeting, and consistency. Today, we’re sharing five of our top tips for how to have a good maintenance plan in place.
Good Maintenance Reporting SystemWhen repairs are needed, you’ll need an excellent system in place for tenants to report maintenance. Your tenants need to know how to get in touch with you and what they need to do when a repair is needed. You can use property management software to track and document these repair requests, or something simple like making sure they know your cell phone number or email address.
Respond ImmediatelyHave something set up for yourself so you can respond as quickly as possible to your maintenance requests. The number one reason that tenants move out of rental properties is slow response times. We all know that tenant turnover is your biggest expense as a landlord. You can avoid those turnovers by being responsive when it comes to fixing things.
Be Prepared for AnythingYou don’t want any surprises, so plan for any possibility. This could be a major repair that requires a budget or something small that you might have been willing to live with when you occupied the home, but that your tenants won’t want to deal with. Always be prepared.
Vendor RelationshipsGet multiple quotes for all jobs, especially the larger projects. Make sure you have relationships established with multiple vendors in each trade, such as HVAC repair people, roofers, plumbers, etc. If you do have a big repair, collect a lot of bids before choosing one contractor.
Pay Your BillsIt’s your responsibility to pay your vendors promptly and on time. The last thing you need is for a major issue to occur but your favorite vendor won’t help you because you have an outstanding $100 bill that you never paid. Pay those bills on time and keep your relationships positive.
These are five tips for a successful rental property maintenance plan. If you have any questions about these or any of the maintenance issues that are included in Fredericksburg property management, please contact us at Dodson Property Management.