Maintenance is a huge part of maintaining a rental property in both time and expense. As a first-time Salt Lake City investor, it can be overwhelming. However, following a detailed maintenance schedule and learning from experienced landlords can make things run smoothly. This article discusses three maintenance tips for first-time investors to make your life easier.
Don’t Ignore Preventative Maintenance.
Preventative maintenance is the most important action in maintaining your home. It not only reduces costly problems but also can make appliances and mechanical systems last longer and improve the overall value of your home. Conducting quarterly inspections helps prevent some of the major issues that occur, like water leaks or air conditioning issues, keeping the annual maintenance cost much lower. During these inspections, change your furnace filter and inspect appliances, plumbing, and electrical to ensure everything is in working order. Other preventative maintenance tasks include keeping the gutters clear of debris and trim bushes and trees away from your home to prevent unwanted pests. It’s also imperative to re-keying your property between tenants to protect your property, your tenants, and abide by local laws.
Home Improvements Can Keep Costs Down
Beyond preventive maintenance, making strategic home improvements can significantly reduce maintenance expenses on your Salt Lake City investment property. Begin by assessing the existing operating systems and appliances in your home to determine if any are outdated. For instance, if your property, built in 1901, still relies on an outdated furnace or boiler, it likely incurs higher annual operating costs than a modern replacement. Staying abreast of innovations and opting for energy-efficient upgrades not only saves on maintenance costs but also enhances the property’s appeal to potential tenants. Just as these measures reflect a commitment to property efficiency, Mexpat Realtors specializes in property management services that prioritize seamless and cost-effective property maintenance and enhancement.
Know Who’s Responsible for What
In a rental property, tenants also have a part in maintenance, and it’s important to make it clear who is responsible for which tasks. For example, sprinkler system maintenance is a landlord’s responsibility; however, mowing and weeding the yard is often left to the tenant. Another issue where clear lines need to be drawn is in the matter of plumbing. If a repair has to be made and the tenant caused the problem, the tenant will be billed. If it is a clogged line in an old soil pipe or a root ball clogging the line, the owner will stand the charges. Ensure that you are aware of the local laws and make maintenance responsibilities clear in your lease agreement.
As a first-time Salt Lake City investor, maintenance can be daunting. However, conducting regular inspections, making necessary home improvements, and including maintenance responsibilities in your lease agreement can make your rental property investment successful. Real Property Management Wasatch takes all of these responsibilities off your plate as a landlord, so you can enjoy the benefits of investing and minimize the risks. Contact us today online or call us at 435-244-3394.
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