How Do I Handle Repairs in My Rental Property? Marietta Maintenance Management Advice
Maintenance on rental property is one of those many headaches that comes with ownership. It’s a two-edged sword in that maintenance costs money, and if your expenses are more than the annual rent, it’s not exactly an expenditure you want to take on. However, by fixing and repairing, you keep tenants in your home longer, and you can rent for the highest possible amount. Your asset also continues to grow in value. When it comes to repairs in your Marietta rental property, there are a few things to consider.
Maintenance Attracts Tenants
When a home goes on the rental market, tenants can tell if it’s been well-maintained. This tells them a lot about management, the owner, and how they will be treated. Great tenants want great places to live, and great properties attract great tenants. Tenants will also gladly pay a little more for a nice place to move their families. A well-maintained home will demand a higher rent and will rent more quickly.
Annual Maintenance Checks
We always recommend preventative maintenance annually. Cut back the bushes, remove dead branches, and give the property an overall haircut. Clean the gutters and remove dead leaves. Don’t leave this up to the tenant because you don’t want anyone falling off a ladder. Do an annual termite check. Clean out the septic system periodically, and change the furnace filters. Every few years, paint the exterior of the home. Also, caulk around windows and doors because it will save you a lot in rotted wood and mold. Check decks, porch steps, and handrails. Look for potential liabilities and repair them.
Maintenance During a Tenancy
Make sure you address maintenance issues immediately. That curtails additional damage and keeps the tenants happy. Happy tenants stay in properties longer. If the damage is the tenant’s fault, your handyman must take photos so you can notify the tenant with photos and a letter that they need to pay for the repair. Don’t give them the option of taking the money from their security deposit. You don’t want to deplete that money before they even move out.
Maintenance Helps with Sales
When you get ready to sell your rental, a well-maintained home can easily add $15,000 to $20,000 to your home’s economic age on an appraisal. You’ll also find a maintained home will sell quicker and have fewer inspection issues.
We always recommend addressing maintenance and repair issues immediately. It’s more profitable when you’re ready to sell, and good business when it comes to managing your tenants.