Americans spend an average of 6 hours a week cleaning their home.
Add in rental properties, and that number multiplies. Keeping them in pristine condition also goes beyond the basic cleaning tasks your parents taught you.
Read on to learn the do's and don'ts of maintenance coordination for investors with multiple properties.
Do Preventative Maintenance and Inspections
Don't wait until there's an emergency at one of your properties to perform maintenance. Perform preventative tasks such as replacing the HVAC filter.
One of the most important parts of preventative maintenance is inspections. Do a move-in and move-out inspection. Then, conduct regular walkthroughs for safety or repair issues. Notify your tenant at least 24 hours in advance to avoid court and financial penalties.
These steps keep you legally compliant and prevent expensive and time-consuming repairs and replacements down the line.
Don't Ignore Tenant Calls
Repair requests from a tenant can become a nightmare for rental property owners. They wake you up from a deep sleep or even bother you on vacation. They're even more of a problem when you have multiple tenants in multiple properties and you have to travel to reach them all quickly.
That doesn't mean you should ignore them. Attending to a small issue like a leaky sink can prevent a major problem down the line. It also keeps your tenants happy and encourages them to stay in the property.
Do Keep Maintenance Coordination Documentation
Keep a record of your rental income and expenses. It helps you see how your investment is performing and whether you're spending too much or too little in a specific area.
Keep a detailed property maintenance history. It lets you know when maintenance tasks were last performed and when they'll have to be done again. Take inventory of any equipment you may need.
Don't Allow Tenants to Do Repairs
Your tenants can help out around the property. They're required to keep up basic standards such as taking out the trash. There are optional responsibilities you can give them such as maintaining the landscaping or reporting problems in the unit. They do this in exchange for rewards such as reduced rent.
Unless they're professionals, you shouldn't trust them with more complicated tasks such as plumbing or electrical issues. They're likely to cause further damage.
Do Get Help
Maintenance coordination is a common cause of landlord stress, especially when multiple properties are thrown into the mix.
Get experienced, qualified property management experts to help you. They can perform maintenance at the property for you even if you live far away from it. They can also provide useful landlord advice to help with managing multiple properties.
Do Know Who to Trust
Maintenance coordination for multiple properties is a daunting task. It's possible with prompt responses, careful documentation, and help from the right professionals.
Our team of educated professionals have backgrounds in real estate investment and tax and accounting. We understand that the success of your investment can come down to the penny. That's why we never overlook the small details and spot them before they lead to increased expenses and liability. Contact us about overseeing your investment today.
