rental property maintenance
4 Thoughts on the Importance of Maintaining Your Rental
You must prioritize rental property maintenance in St. George, UT. The preservation of your landlord-tenant relationship, as well as the value of your property, depends on this. There is a large amount of St. George property managers who neglect the upkeep of their properties. Whether your reason is because you don’t have time, or you don’t have money, or you just don’t think it matters very much the fact of the matter is that you need to change your habits and mindset immediately if you use any of these excuses. You must always be aware of the physical states of the homes you own, outside and inside. No matter how new a home is, issues related to repair always make themselves known. As a St. George property manager, you have to stay on top of these issues. The integrity of the home’s utility systems can be compromised without proper and timely care, not to mention things like appliances and exterior grounds. How old or new your property also needs to taken into consideration when making a plan for rental property maintenance. Here are some important bits of information to consider related to maintaining your rental properties:
As mentioned above, it is inevitable that extra expenses related to maintenance will come up no matter how new the property is. One and a half the amount of rent being charged is the average amount of maintenance costs per year. Sometimes depending on the property’s age that number can fluctuate, but on average that’s how much you’ll spend. The idea is to have enough money put away to take care of any and all maintenance issues that may occur during the particular tenant’s contract length, and then a little more just in case. And this doesn’t even include money that should be saved by St. George property managers for the purpose of getting the home cleaned and prepared for future tenants when your current one moves out.
Regulations and Legality
Legal rules and regulations can be different in every state and often times even within certain counties (this is the case around St. George, UT) so it can’t be expressed enough how vital it is that you know the rules in the areas where your properties reside. Become familiar with the rules and regulations pertaining to things like landlord obligations as well as building codes, and then make sure that you are letting your tenants know what all of these rules are so you are both on the same page. This will help you know when you should hire a professional service company to clean, etc. You can always set up a meeting with a local attorney and allow him to inform you of the local laws concerning rental homes and property management in St. George, UT.
Happy Tenant Equals Happy Landlord
St. George property managers, keeping your tenants happy is so important, and making sure the property is consistently taken care of is the big piece to that puzzle. Also, make sure that when your tenant informs you of a maintenance problem to take care of it quickly. Studies also show that the more care and effort you put into the home, the more care and effort the tenant will take. Turnover and Maintenance Are Related. The better you are as a landlord in maintaining your property, the less likely you are to have tenant turnover. If you’ve ever been a renter yourself, you know how frustrating it is to have a landlord who takes forever to return your calls. And vice versa, how great it is as a renter to have a landlord who is on the ball and on top of everything. It makes all the difference. If you want your tenants to resign, be the kind of landlord that you would want if you were renting. This is great advice for St. George property managers.