When investing in property, there is a lot to consider about your purchase. With the market being as competitive as it is, finding and purchasing a property can be a significant undertaking. Once you find a property, maintaining it is a whole other task. Tenants, whether they are commercial or residential, have constant needs. From the moment they schedule a showing until they get their deposit back, tenants are a full-time responsibility.
This process involves a lot of time and hands-on effort that many property investors do not have. However, as a property management company, we can help execute the day-to-day details that often get in the way of enjoying your investment property.
Fortunately, you are not alone in property management maintenance. We are here to help alleviate the burdens of property ownership, so you can focus on the many advantages that come with your investment.
Preventive Maintenance Is Key for Affordable Upkeep
Major property problems happen when owners let repair and maintenance fall by the wayside. The most damaging and expensive property problems are generally preventable. An irregular maintenance schedule is asking for serious equipment malfunctions and breakdowns. Properties need maintenance regularly for proper function and performance of elements such as the HVAC system, plumbing, pipes, sewer, water heater, appliances, roofing system, gutters, and more. The average costs of replacing major real estate features are as follows:
New roof: $6,000-$12,000
Water heater: $550-$1,250
HVAC system: $5,200
Exterior siding: $6,000-$8,500
Unless you have tens of thousands of dollars to spare, you’ll want to minimize the number of times you need to replace major equipment and appliances in your real estate investment. The best and most effective way to do this is by scheduling regular property maintenance. Maintenance is an affordable, budget-friendly technique that can keep major appliances in proper working order for years to come. Maintenance can extend the lifespan of your investments, keep tenants happy, and minimize your home improvement expenses.
Property Management Maintenance Pre-Tenant Tasks
Property management maintenance begins before a tenant even walks through the door. Federal laws state that the property owner is legally required to provide “reasonable care and maintenance” of the property they are renting out.
This means that before you have your tenants secured, you must be sure that the property is safe for them to live or work in. This includes:
● Ensuring that the building and units are up to local, state, and municipal codes. ● Supplying properly running water. ● Performing repairs. ● Providing trash and recycling receptacles from the city. ● Ensuring that the home is free of pests and mold.
Some of these property management maintenance tasks can be completed relatively easily, while others require a tradesperson or specialist to complete the job.
As the property owner, you are obligated to correctly solve any issues yourself or hire someone who can properly fix it. However, with a property management maintenance team on your side, we can take care of all of the pre-tenant tasks for you.
Property Management Maintenance Tenant Maintenance and Management
Many property owners do not equate tenants with property management maintenance, but they are inherently linked. Finding good tenants is central to ensuring that your property runs smoothly, and your investment is protected. When you find top-quality long-term tenants, there will be less cleaning and upkeep that comes from preparing for a new tenant. Long-term tenants usually care more about the property and are more likely to take care of it. Short-term leases, however, create more opportunities for property management maintenance through quick turnover and a general lack of investment in their home.
Having a property management maintenance team on your side helps you properly vet and select rental candidates, no matter where you are. The process can be daunting and outright dangerous to do on one’s own, but with a property management maintenance team, it can lead to significant benefits for your investment.
Property Management Maintenance Requests
One of the primary tasks for property management maintenance experts is managing maintenance requests. It is natural, from time to time, for things to break down or stop working. As a property owner, it is your responsibility to handle these maintenance requests as they come in. If you fail to do so, the tenant may be able to take legal action.
Some common property management maintenance requests that arise include:
● Broken sink, faucet, showerhead, etc. ● Heat/air conditioning is not functioning properly. ● Clogged drains. ● Broken or faulty windows or window latches. ● Broken lock or the tenants locked themselves out. ● Broken toilet. ● Broken hot water heater.
These are only a few of the things that can go wrong when you own a property. Unfortunately, when you handle all property management maintenance alone, you are obligated to fix the issue yourself or call an expert.
Move Out Property Management Maintenance
When a tenant moves out, it is your responsibility as the property owner to ensure that the property is up to code for the next person or people who move in.
Property management maintenance may involve a variety of tasks, including:
● Repainting walls that are dirty or have otherwise been compromised by nails, markers, adhesives, etc. ● Caulking areas that nails have damaged. ● Cleaning or replacing carpeting. ● Changing air filters in the HVAC system. ● Replacing locks so that prior tenants cannot reenter with old keys. ● Changing broken light bulbs.
Remember, the unit must be up to date and up to code at all times, especially when a new tenant moves in. You don’t want to be liable for accidents that occur due to negligence.
How a Property Management Maintenance Company Can Help
When you invest in a property, you may or may not want to handle all of the above tasks. If you are of the latter group, a property management maintenance company is likely for you.
A property management maintenance company like our team at Home 365 can complete all the above tasks for you. Rather than juggling the details of owning a property, you can outsource property management maintenance to individuals and teams that do it for a living. We will oversee all maintenance details while you remain free to sit back and reap the rewards of your investment.
Remote Property Ownership With a Property Management Maintenance Company
One of the main perks of employing a property management maintenance company is the freedom it gives you to live and invest anywhere. However, it is a simple fact of the real estate industry that the market fluctuates in different areas. Therefore, if you believe that you have to live in an area to buy property there, it will be challenging to invest in high-quality properties.
However, if you understand that property management maintenance can be done by expert companies rather than on your own, you have the opportunity to invest in the country’s most lucrative markets without having to relocate your family. Your property management maintenance company can handle the details while you invest in the property.
Legal Logistics With a Property Management Maintenance Company
Unfortunately, a lot of property management maintenance is borne out of obligation. The law states that rental properties must have specific codes and standards to operate as a rental. Unless you are an expert in the field, it can be challenging to keep up with these codes and understand the legal intricacies of the required standards. A property management maintenance company ensures that local, state, and federal standards are always met at your rental properties. Our entire job is to make sure that your properties are up to code, so you can be assured that you will not have to worry about the details.
If you decide to invest in a property in a lucrative market but that isn’t in an area with which you are familiar, it can be tough to locate specialists and professionals to fix your property’s issues. In addition, search engines often display pages that have paid for ads, meaning that it is difficult to know if a company is legitimate or if they’ve paid to appear first on the search list. From afar, this makes it challenging to know which specialists to choose.
When you hire a professional team for your property management maintenance, you know that you are getting the best local specialists to work on your property. The local property management maintenance branch can help you to find plumbers, electricians, contractors, and more who will solve any issue on your property with ease. Property management maintenance can be extremely difficult, especially from afar. However, a local property management maintenance team can make everything feel much more manageable. It is like having a local guide available to you, your property, and your tenants.
Choosing a Property Management Maintenance Company
When looking for a property management maintenance company, it is essential to find someone you trust who meets your needs. The property management maintenance business has been around for many years. Therefore, it is essential to be sure that any companies you are considering have modernized and are ready to handle your property properly.
You also want to be sure that your property management maintenance company shares your priorities and values. As the company will be caring for your property, you want to be sure that its team will care for your investments in the way that you would, or better.
Contact Home 365
Here at Home 365, we blend property management maintenance with the modern era. Born in Silicon Valley, our company is entirely modernized and ready for the contemporary investor. We handle most of our business through our website or app, so you can ensure that the resources you need are always available to you. These modern, technologically advanced portals allow us to conduct business with you and your tenants in the most efficient way possible. What’s more, our cutting-edge practices give us access to the professionals who are indeed the best in their fields. No more shopping for plumbers and maintenance specialists; we have it all covered.