4 Types of Property Maintenance for Landlords
losing good tenants due to lack of property maintenance
As property managers one of our
main duties, and most time consuming, is dealing with property maintenance
issues. Most of these are repairs to items that have broken or just stopped
working. Plumbers, electricians and the handyman are required more than any
other kind of tradesperson – leaky taps, lack of hot water, toilet cisterns
overfilling are the most common requests for plumbers; faulty switches, light
fittings, power points, cooktop burners that don’t work are common for electricians.
Then there are doors that don’t close, windows that won’t open, fans that stop
working and doors that fall off. Everyday someone has a problem somewhere.
Maintenance of an investment property is often considered only when something
goes wrong but it is an umbrella term that covers four separate types of
maintenance, according to Peter Gianoli of Investor Assist. Here is a summary
of the four types:
- REPAIRS: reactive response when
something goes wrong e.g. blocked pipe, broken oven – as mentioned above.
- SEASONAL MAINTENANCE: items should
be regularly addressed to ensure the number of repairs in the previous category
is kept to a minimum. e.g. gutter clearing, air conditioner servicing, garden
pruning, pest control.
- INVESTMENT MAINTENANCE: planned
replacement of any item in the property that depreciates in value, including
carpets, blinds, ovens, hot water systems, etc. Planned maintenance prevents
the further repairs that would otherwise fall into the first category, and
enables a good level of control over the standard of the property and the cost
- CAPITAL WORKS: any new elements or
improvements that are introduced to a property. Examples include adding a
dishwasher, a new sprinkler system to enable tenants to look after the garden,
or an air-conditioning system. This type of expense is likely to increase the
value of the property as well as the rental return.
Ideally, a landlord should be aware of all
types and make allowances for associated costs. It will help to minimise
expensive repairs (number 1) by undertaking regular property maintenance
(numbers 2-4) so problems don’t become big ones. Water damage is a common one
that if not addressed promptly can become a very expensive repair. Another
benefit to keeping the property well maintained is the type of tenant it will
attract. Prospective tenants viewing a neglected property are less likely to
want to rent it. When a property is run down and uncared for it will attract
the same type of treatment from a tenant. One of the most common reasons
tenants choose to move is due to landlords not maintaining the property. So to
attract a good tenant and keep them, make sure the property is well maintained.
If we manage your property please contact us to arrange annual servicing of
items. Or call us for any information about the above – 9450 3398 Sean.