Keeping a tenant in your rental property is easier said than done. However, there are several things you can do to increase the chance of remaining at total capacity, including performing routine property maintenance.
If you're still unsure what the benefits of hiring a property maintenance company would be, you've come to the right place. Read on below and check out some of the top benefits of property management.
1. Property Remains Within Code
As a property manager, there are several laws you have to follow to ensure the home you're renting out is within code compliance. Primarily, you need to ensure that the home isn't a hazard to anyone's health.
When you perform routine property maintenance, you're doing what it takes to remain compliant. It also helps you stay on top of potential issues that could worsen without proper attention and care.
2. Increases the Value of the Property
When you perform the property manager job, performing maintenance is a part of the job. When you do this well and routinely, you increase the property's value without realizing it.
Increasing the value of the property you own is crucial because it means you can ask for more money from tenants within reason. Of course, if you're going to raise the price of the rental property based on the maintenance you perform, you have to be ready to explain this to tenants.
Some people will want to know why you're raising their rent. Letting them know you will be raising the rent due to the increase in home value will give the tenant time to determine if they will continue renting the property or find someplace else to live.
3. Saves You Money
Maintaining a property will help save you money because you're constantly assessing the home's condition. For example, if there is an increase in the heating and cooling bill that wasn't that way in the past, it could be a sign that there is a leak somewhere.
From there, you'd do what it takes to seal the leak. Otherwise, the bill will continue to remain high. It's better to seal the leak and save energy than to allow it to continue.
4. Reduces Pests
There is no way to 100% ensure that pests don't infiltrate your home, but routine maintenance can reduce a pest problem before it begins. Once an infestation has occurred, it can be more challenging for pest control specialists to get it under control.
This is especially if the pest has found its home in a small space that isn't supposed to be there.
Property Maintenance and Why It Benefits You
Property maintenance is essential and benefits you as a property manager in several ways. Doing so can increase the value of your home, allowing you to charge tenants more rent than you were charging them before.
Contact Advantage Property Management Services and let us help you make the most of your time as a property manager.