Maintenance mistakes Landlords can make.
Let’s talk about the maintenance mistakes that Landlords can make. Not performing regular inspections.
Preforming regular inspections just ensures you pick up jobs early and do not manifest into more expensive jobs. Examples are leaks, bathroom flooring issues, to name a few.
It’s also a great way to see if the tenants aren’t breaching their tenancy agreement. Examples are unauthorised pets and people, not looking after your property such as damage and accumulated rubbish.
I have written about this in other self-managers blogs but ill say it again. Not conducting regular inspections can lead to your insurance company being breached. Some insurance companies will need proof of regular inspections being conducted.
Neglecting or delaying maintenance.
By doing this, you can head to have unhappy tenant/s, this could lead to more turnover in tenants and harder to rent your property in the future. When you’re showing your property to potential tenants, they can see that maintenance is not up to date. Or if you plan to sell your property in the future, the unhappy tenant may make it less appealing to potential buyers. They may even not keep the property in a tidy condition, for when buyers want to have a viewing.
Not going for good quality fixtures and fittings.
Yes, going for the cheaper alternative is cheaper right now, but just going straight for good quality fixtures and fittings first up will save you money in the long run. Good quality items will get you more wear and tear, less likely to break, and that means less work to replace.
Not putting away a maintenance budget.
Just like your car, your property needs a maintenance budget put away each week, for when its needed. We would suggest at least 0.3% of the value of your rent is put away each week, hopefully when your property needs repairing your savings will cover the costs. There really isn’t a magical number for this, it all depends on the age of your property with other factors but making a plan will make it less stressful, when a large maintenance bill comes in.
Encourage tenants to inform you when repairs are required.
Yes, it’s horrible when maintenance is needed, but catching it early can save you a lot in the long run. Having a good relationship with your tenants is what’s needed for your property to be kept in good condition and to ensure anything small is bought up before it is a bigger problem.
Have a sit down when signing your tenant up, when you’re doing the tenancy agreement is an excellent time. Explain you want to keep the property in good condition and would like to be informed when things arise. Set clear expectations on the basic things they need to do to prevent damage to the property, such as airing the rooms, proper heating to prevent mould, tell you if there are signs of water damage and leaks, change fire alarm batteries regularly.