One of the key pillars of protecting your property portfolio is property maintenance. Together with great long term tenants bringing in a high rental yield and a property management team handling day to day tasks, good maintenance is needed to keep your property in tip top shape.
Create a maintenance plan
The best way to go about general maintenance and upkeep on any property is to plan ahead. The first step to success is creating a list of all maintenance tasks and assigning timelines to them for when you will be able to tackle them. Your cash flow and the tenant’s availability will all need to be taken into consideration when making your plan. Your property management team will be able to help you in drawing up a maintenance schedule based on your property.
Urgent repairs need urgent attention
Another type of maintenance that any property owner knows all too well are emergency repairs. These are things in and around your property that will need urgent attention and will require you to call out a tradie as soon as possible. If you have a tenant living in your property, then the urgency increases - your property manager is the best person to help in this instance.
Lean on your property management team for guidance and support
Your property manager is well versed in how to properly plan for property maintenance. Through regular routine inspections, they will be able to guide you through the maintenance needs of your property.
General maintenance and property upkeep
Best done regularly, general maintenance and property upkeep are ways in which you can maintain or even increase the value of your property. These can include but are not limited to bathroom remodels or kitchen updates.