You're a landlord with a portfolio of charming properties scattered across the city, each one promising an amazing experience for your tenants.
As you bask in the satisfaction of providing quality housing, a sudden gust of wind rattles your window, reminding you that owning rental properties isn't all about collecting rent checks. No, there's a whole world of property maintenance waiting for you, from routine fixes to unexpected calamities.
How do you navigate all the costs? We're here to help.
Let's go through the top property maintenance expenses you need to watch out for.
Routine Scheduled Maintenance
Routine scheduled maintenance is an essential aspect of property management that landlords must plan and budget for.
A good property management company can help you manage routine costs to help you keep them under control.
Painting or repairing exterior surfaces, such as siding, trim, and fences, can protect against weather damage, improve aesthetics, and extend the life of the property's exterior.
Regular pest inspections and treatments are necessary to prevent infestations and protect the property from damage caused by pests like termites, rodents, ants, and cockroaches.
HVAC Maintenance
HVAC maintenance is a crucial aspect of property management, especially for landlords, as it ensures the comfort and safety of tenants.
Filters need to be changed out to maintain indoor air quality and prevent the system from working harder than necessary. Landlords should budget for purchasing and replacing filters as needed, typically every couple of months depending on the type of HVAC filter and usage.
Depending on the age and condition of the HVAC system, landlords may need to budget for upgrades or replacements. Newer, more energy-efficient systems can lower utility costs and improve tenant satisfaction.
Investing in energy-efficient upgrades for the HVAC system, such as programmable thermostats, zoning systems, or smart HVAC controls, can lead to long-term cost savings on utility bills.
Plumbing Issues
Plumbing issues are common in rental properties and can range from minor leaks to property-damaging pipe bursts.
Addressing leaks promptly is crucial to stopping water damage, mold growth, and rental property structural problems. Landlords should budget for repairs to faucets, toilets, pipes, and fixtures that may develop leaks over time. Regular inspections will also help you avoid more severe issues.
Landlords must ensure that the property's plumbing system complies with building codes, health regulations, and safety standards. This may include obtaining permits for plumbing work or addressing specific requirements for water conservation and accessibility.
Emergency Costs
Emergency costs are unforeseen expenses that landlords should anticipate and prepare for to effectively manage their rental properties.
These costs can arise suddenly and require immediate attention to address issues that could impact tenant safety, property integrity, and overall satisfaction.
Regular inspections will also help you avoid more severe issues. Emergency expenses related to security may include broken locks, unauthorized entry, vandalism, or safety hazards. Landlords should address these issues promptly to protect tenants and property assets.
Keep an Eye Out for These Property Maintenance Expenses Today
There are so many property maintenance expenses you'll need to keep in mind.
Are you looking for property management support near Kennewick, WA? Crown Property Management has been supporting investors like you since 2001.
Contact us today.
