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
In addition to preventative maintenance, home improvements can also help to lower the cost of maintenance on your Salt Lake City investment. It is good to check what operating systems you are currently using in your home and find out if your systems or appliances are outdated. For instance, if your home was built in 1901 and your furnace or boiler is outdated, it costs you more money to run annually than it would replace it. Keeping up with innovations and energy-efficient can save you maintenance costs and appeal to prospective tenants.
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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