Maintenance issues can creep up on you. Landlords who neglect their rentals for months or even years on end always end up facing consequences – like poor tenant retention and big, expensive problems.
Regular preventative maintenance will make you stand out from your competitors and save you money in the long term. Although it may not seem as pressing as other items on your list, preventative maintenance is such a crucial part of a real estate investment business.
And while there are many preventative maintenance tasks you probably already knew about, there are likely some that you’ve been missing if you are self-managing your rental property!
Keep reading to see why every landlord needs preventative maintenance and how you can apply it to your real estate investment business.
Prevent Water Damage
Water is the number one most damaging element to a building. Preventative maintenance should aim to keep water systems and wet weather in check both inside and outside units.
Out-of-control water from leaky pipes will create rot and mould that can be dangerous and toxic. It can harm the health of tenants and cause a lot of damage to the building itself that will only worsen the longer it goes untouched.
Rain or snowmelt that pools around a building can seep into cracks and freeze, causing even more damage to critical areas like the foundation. Good landscaping takes this into consideration and gives water a place to flow away from the structure.
Insulating and sealing windows and doors keeps rain from entering. This is especially important with skylights, which tend to leak.
Mitigate Potential Fire Damage
Fires are every renter and homeowner’s worst nightmare. Prevention can reduce the risk of a fire.
Be sure to have furnace and air conditioning maintenance completed every spring and fall to keep it working efficiently. Getting heating and cooling systems serviced during the less busy seasons will also keep the cost of the service lower.
Any appliances that use heat need to be checked and maintained regularly like dryers, gas fireplaces and stoves.
Electrical systems should also be routinely checked and faulty wiring immediately replaced.
Most importantly, smoke alarms, carbon monoxide detectors and fire extinguishers are required by law to be in working condition.
Withstands The Elements
You’ll want to be sure that you are keeping up with your landscaping. For example, trimming back hedges and trees, putting down new gravel and directing rainwater away from buildings.
The roof needs to withstand temperature changes and weather like wind, rain, ice and snow. In an especially strong windstorm, you may need to cover up and repair patches that have blown off.
Gutters need leaves and dirt cleared out of them when they get full, especially if there are lots of trees around the property.
Are your pipes strong enough to handle snow? Winterizing pipes is a good way to avoid water damage in the coldest season of the year.
In a city like Ottawa, quality property management and maintenance is crucial, especially in the Winter!
How Proactive Property Management Can Help
An effective way of performing preventative maintenance without eating up too much of your time is to hire a property manager.
A good property manager has the resources and knowledge to get your property the maintenance services it needs. They have systems in place to manage, document, and resolve maintenance requests.
On top of that, they can support you with other beneficial services like managing tenant relations, helping you get your income property rented quicker, and maximizing your returns on your investment. At the end of the day, your investment property is a business, and a good property manager will support you with this business endeavour to push you towards success.
Property Maintenance With Forward-Thinking Support
A proactive property manager will not sit by and wait for things to break. They are actively out there preventing damage from happening in the first place with good property maintenance practices.
They have connections to the best vendors in the area and the experience to handle any setbacks that get in your way.
Most importantly, they work with you and your budget to give you the best possible services without missing out on quality.
Flex Property Developments is an Ottawa-based property management team that understands the importance of responsible property management. If this is the kind of service you’re looking for, contact us here to book a call and discuss your property.