How Preventative Maintenance Protects Your Rental Property
Rental properties naturally experience wear and tear over time. However, waiting until something breaks often leads to more expensive repairs when than addressing small issues early. You will also likely deal with more tenant frustration which can lead to unnecessary vacancies. So how do you stay ahead of the game? As a property owner, incorporating preventative maintenance into your property management strategy helps you identify issues before they become expensive repairs. As one of the top property management companies near Augusta, Georgia, this is how we do it.
What is Preventative Maintenance?
Preventative maintenance is the practice of performing regular maintenance and upkeep on specific aspects of a property in order to keep it properly functioning at all times. For example, think: cleaning gutters, servicing HVAC systems, checking for leaks, winterizing pipes, etc.
At Sherman & Hemstreet, we implement preventative maintenance through regularly scheduled property inspections for all of the rental properties that we assist with property management services. We also make it easy for tenants to submit maintenance requests whenever issues arise.
Why Preventative Maintenance Matters for Rental Property Owners
As a property owner, why exactly should preventative maintenance matter to you? At first, preventative maintenance may seem like one more task to manage. In reality, it often reduces the number of major repairs you’ll face over time.
Emergency Repairs Often Cost More
Think for a moment how property management goes without any systems or strategies in place. You do not find property damage until it is extensive, which leads to spending money that you had not planned to spend. Then, in attempt to keep your budget aligned, you cut corners elsewhere. This is where things start slipping through the cracks.
Property owners very often underestimate how much their projected maintenance costs will be for rental properties. How many emergency HVAC system replacements do you anticipate per year? What about roof repairs or replacements? New appliances? If you do not properly upkeep these aspects of your rental, then you need to set aside more money than you think for emergency repairs when they arise.
Extend the Life of Major Systems
When you do implement regular, preventative maintenance, you help extend the life of your property’s major systems and appliances. Things will need repairs and replacements eventually, but you will be less likely to run into those late-night emergency calls saying “We have a leak,” or “Our AC won’t turn on!”
As a property management company, we utilize reputable vendors when it comes to maintenance. We also have an emergency maintenance system in place so that tenants can submit their issue and be directly connected to schedule with the right vendor. This, along with seeing familiar vendors who tenants know and trust, is a good way to strengthen your relationship with your tenants.
Well Maintained Properties Create Better Tenant Experiences
Well maintained properties go hand-in-hand with high tenant satisfaction.
When a tenant feels safe, cared for, and enjoys their living space, they are generally more likely to renew their leases, reducing turnover and unexpected vacancies. Therefore, you are putting yourself at lesser risk of losing a month or more of income. Remember, even during vacancies, you as the property owner are still responsible for the mortgage, insurance, utilities, marketing costs, and more. Additionally, during a vacancy, any issues that arise that would require maintenance go unnoticed for longer than they would with a tenant onsite.
How Professional Property Management Simplifies Preventative Maintenance
Utilizing a professional property management company like Sherman & Hemstreet for your Augusta, GA rental property is a good way to protect not only your rental, but your future goals and investment plans. Our tried and true management strategies help catch issues early, establish and maintain trust with tenants, reduce maintenance costs, and avoid unnecessary vacancies.
In the end, it is important to know that preventative maintenance is one of the simplest ways to protect a rental property’s long-term value. At Sherman & Hemstreet, we help rental property owners throughout Augusta, Evans, and the surrounding CSRA stay ahead of maintenance with proactive management strategies that protect both their properties and their bottom line.