How to reduce the maintenance cost of real estate property by 30%?

The prevailing real estate market scenario has made long term investments in rental properties as a more appealing than ever before. Apart from cashing checks, you will be having several other duties to manage in your rental property if you manage it by yourself.

One of the biggest tasks is to keep up the maintenance cost at the lowest possible. It is best to keep the maintenance costs lower over 25%. It is recommended to visit your rental house on a regular basis and ensure that your tenant takes care of your property with utmost care and further lots of things to do while you visit.

  • Firstly review the air conditioning filter and ensure it is free from dirt unless it strains on your heating equipment and thus it will shorten air conditioning life. Also, you can be sure your tenant staying in a comfort zone and thus it creates a good impression about you in their minds.
  • Secondly, in the case of any leaks, address it when they are new as it is do easy. But if you let your plumbing or carpentry repair unnoticed, it may cost you more.

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  • Overgrown trees that are touching your house roofs can abrade them and begin leaking. So, it is good to do touch-ups where you need it and thus can gain the goodwill of your tenant.
  • Always review the smoke alarms are in good condition in order to ensure safety of your tenant and rental property. Once in a year, replace a full set of new batteries for your smoke alarm.
  • Inform your tenant to make use of dishwasher at least once or twice in a month or else the seals may get dry and when used after long span it will leak off.

Similarly, ensure your tenant makes use of garbage disposal if you own one as lack of usage may lead to seize up on the blades and finally the unit has to be replaced.

  • Ensure that your tenant don’t stack their treasures around the gas furnace as it may cause harmful fire hazard. Every time during your visit, look for any sort of damage or broken before it gets progress and lead to a major expense.

As per your rental agreement if you don’t permit pets in your rental property, and later found your tenant owning one, tell them politely, and if they don’t listen remind them about violation of agreement is not allowed.

Treat them right and address their needs on time

It is important you treat your tenant nicely whenever you visit. Act like how you treat your guests and understand that you are in their home. Communicate and treat everything optimistic and respectful.

Hire a property management company

Finally, if you are not interested in spending energy and time to look after your rental property by yourself, one of the easiest ways that makes your life simpler and easier is to rely upon trustworthy choice of Property Management Company in your location. They will take care of your property on behalf of you and ensure to assist you with all sorts of services related to the maintenance of your rental property.

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