Renting out a property can be a lucrative venture as it allows investors to earn a steady passive income. What’s more, as the years go by, the value of properties tends to increase, providing real estate investors with a hedge against inflation and a higher ROI.
That said, landlords are responsible for property upkeep, major repairs, and addressing tenant’s maintenance requests. With so much to do, it’s easy to overlook some maintenance duties, which can impact the profitability of your investment. If you’re struggling with maintaining your rental property, this comprehensive guide will go over our top property upkeep tips and responsibilities!
Understand Your Maintenance Responsibilities
A well-maintained rental is more likely to attract long-term tenants and appreciate over time. Here are some of the duties you must perform to keep your rental in good condition:
Following Safety and Building Codes
As a landlord, you’re legally required to provide safe living conditions to tenants. This includes ensuring that the property is structurally sound and that there are no health hazards such as mold, asbestos, lead paint, or pest infestations.
Regular Property Inspections
Even if you stay on top of your maintenance responsibilities, emergency repairs are unavoidable. However, you can minimize the risk of major repairs by conducting occasional inspections. Additionally, this will help you hold tenants accountable by ensuring that they’re complying with the lease terms.
Partnering with a property management company like Mark Brower Properties also provides you access to more in-depth services like our rental property flood prevention inspections that are conducted by a qualified plumber every time a property becomes vacant.
Regular Plumbing Maintenance
As a landlord, you must ensure that the plumbing systems are always in working condition. This includes fixing leaks, unclogging drains, and maintaining water heaters. Additionally, you must look for signs of water damage and mold, which can lead to more serious problems if left untreated for long enough.
Addressing Electrical Issues
Faulty electric systems can be a fire hazard. To protect your investment and your tenants, you should check all electrical systems, outlets, and appliances in the property. Additionally, you must replace faulty wiring, outlets, or appliances promptly.
Inspecting HVAC Systems
In areas with extreme climates, such as Arizona, landlords must provide tenants with functioning HVAC systems. To do so, you must schedule maintenance and change air filters.
Addressing Repairs
In Arizona, landlords must ensure their rental properties are habitable. This includes making any needed repairs shortly after receiving notice from the tenant. Failing to do so can lead to tenants breaking their lease early or using their right to repair and deduct.
Landscaping
Tenants are usually responsible for general yard maintenance. However, anything over 6 feet tall in the yard automatically becomes the landlord’s responsibility. What’s more, when a property is vacant, landlords will be responsible for maintaining curb appeal by mowing the lawn, trimming bushes, and removing weeds.
Pest Control
Pests can be an inconvenience to your tenants. That’s why you must take preventive measures and conduct inspections to identify and address pest infestations before they become costly and impact your ability to rent out your home.
Cleaning Common Areas
If you own a multi-family property or an apartment building, you’re responsible for keeping all common areas clean. This includes stairs, elevators, lobbies, hallways, and even gardens or small green areas.
Budget for Maintenance
The cost of cleaning supplies, tools, construction materials, and vendor and contractor fees can add up. That’s why you should set aside savings solely for maintenance and repairs. By budgeting, you can alleviate the financial burden of maintenance expenses. It should be noted, however, that if you’re spending less than 10% of your annual revenue for the years on property maintenance, you’re doing well.
Understand Tenants’ Maintenance Responsibilities
Property maintenance is a shared responsibility between landlords and tenants. While most of the duties fall on property owners, renters are required to comply with some maintenance responsibilities. This includes cleaning the property regularly, making good use of any provided appliances, charging smoke detector batteries and air filters monthly, disposing of their trash appropriately, making minor repairs, and reporting maintenance issues or repairs as soon as they notice them.
Communicate with Tenants
As a landlord, you should proactively let tenants know about their maintenance responsibilities, as well as your cleanliness expectations from the start. It should be noted that if your tenants work with our expert cleaners, a cleaning fee won’t be deducted from their security deposit at the end of their tenancy.
Plan for Seasonal Maintenance
Different weather conditions can damage your rental property. For instance, heavy rain during monsoon season can cause leaks and water damage. Seasonal maintenance can help you prevent these issues. Therefore, in addition to your regular maintenance responsibilities, take the time to inspect and repair roofs and gutters before the rainy seasons.
Partner with a Property Management Company
Successfully maintaining a rental property requires consistent availability. If you don’t have the time or experience, you should consider hiring a property management company. A seasoned property manager will help ensure that your rental is in good condition and that your tenants are always happy. Property management firms also have long-term partnerships with reliable vendors that can help keep costs low for property owners.
Bottom Line
The condition, functionality, and safety of your rental property will help you retain tenants and ensure the long-term profitability of your investment. However, property upkeep is no easy task. As a landlord, you’ll be responsible for making most repairs and inspecting the property, among other things. Luckily, you can minimize your workload by working with tenants and partnering with a property management company!
If you’re looking for a trusted property management company in Mesa or the surrounding areas, contact Mark Brower Properties!
