As rental properties are investments, a wise Landlord will take the time to take care of this investment. One of the most important parts of taking care of your rental investment is to keep up with regular maintenance. Preventative maintenance tends to be much more wallet friendly than reactive measures, as reactive measure generally requires emergency service fees which can be pricey.
When the new tenants moves in, a smart landlord will make sure that the tenant is aware of where to turn the water stopcock off in case of emergency. Also, making sure that tenant is aware of the location of the fuse box and of how to best operate the furnace to minimize the possibilities of mold.
Making regularly scheduled inspections is an important part of protecting your investment. Regular inspection allows the landlord to stay on top of any issues before they become problems. Examining the caulking in showers and the title grout will keep a landlord ahead of any problems leaks and potential water damage.
Fire alarms and carbon monoxide detectors need regular maintenance and should be checked regularly. Carbon monoxide detectors have 5 year lives and fire alarms have 10 year lives, however they should be routinely check to make sure they are in working order.
The water heater should be flushed regularly and this helps keep a water heater in working condition and keeps the efficiency high. Sediment left in the bottom of a water heater can build causing the drain to become clogged and replacing a water heater can be hard on the wallet.
Also, properties should be exterminated regularly. It is far better to exterminate monthly than allow good tenants to vacate a property due to a bug infestation. Tenants with well maintained rentals are far more likely to stay longer in their rentals then those properties that are not well maintained.
If repairs are needed, it’s smarter to get on them when the problems first occur as simple problems can turn into potentially expensive disasters. A clogged gutter can turn into the entire gutter being ripped from the roof. Choosing the right person to do the repair is highly important, as contractors whose prices are too good to be true tend to do spotty work that can leave a landlord with a bigger problem and even more expensive bills then before.
For more maintenance tips and tricks, check out these links.