Property maintenance, repairs, and rent collection are duties that 80% of property managers undertake. This is one of the reasons why having a property manager is so essential for real estate owners.
If you're a property owner and you're not performing regular property maintenance, you may be setting yourself up for costly repairs in the future. Unfortunately, as much as one may try to purchase high-quality materials, sometimes wear and tear get the best of them. You can lessen this wear and tear with regular maintenance.
If you still need to decide whether you should routinely maintain your property, keep reading. Here are five benefits you gain from starting.
1. Property Maintenance Helps Retain Tenants
One significant benefit of regular property maintenance is how well it works to retain tenants. If you find yourself with a decent tenant, as a landlord, it's wise to do what you can to keep them happy, so they don't move out. Your tenants will appreciate having a well-maintained home they can be proud of. Additionally, tenants are more likely to respect a well-maintained property.
If you fail to address property maintenance and enough issues arise, your tenant may become frustrated enough to leave. This can leave you looking for new tenants, and they may not be as good as the last.
2. Save Money
If you put in the effort and perform regular property checkups, you can save money in the long run. If you repair things as they show their age or reach the end of their lifetime, you can save money by not having to replace them entirely. For example, if you repair a bathroom leak before it worsens, you can save on the cost you would have paid to replace your bathroom floor.
3. Add Property Value
By keeping everything in tip-top shape, you add value to your property should the time come that you want to sell. Your home is an investment, so spending money to keep it well-maintained is essential.
Suppose you want to sell later; it's helpful not to lay out thousands to repair everything that needs fixing before listing your house. By staying on top of repair work, you can spread out any maintenance expenses before you sell.
4. Save Energy
Many properties have HVAC systems installed, and by regular maintenance on your HVAC system, you extend its lifetime and delay any costly repairs that may arise. Of course, the older your AC unit, the more regular the maintenance may have to be, but a check at the beginning of every season should be fine otherwise.
5. Decreases Pests
Finally, when you regularly maintain your property, you get a good idea of what issues are occurring in and around the house. A benefit of regular checkups is spotting pests before they become a problem. This way, you can call in a pest control company to deal with the issue before they cause any severe and costly damage to your property.
Get Full-Service Property Management Services Today
Regular property maintenance checks can go a long way to increasing the condition of your property. If you have a well-maintained house, your tenants are more likely to want to stay, which is great if they're good tenants. As you can see, there are several benefits you can gain from maintaining properties you own, such as fewer pests and increasing your home value.
Get in touch with us today if you're looking for a full-service property management company in the Hampton Roads area in Virginia. We have real estate experts waiting to help, so don't delay.