The importance of preventative maintenance on your investment property

As any savvy investor knows, preventative maintenance is key to protecting the value of your property. By keeping your investment in good repair, you can avoid the costly repairs that can come with neglect. Regular maintenance also helps to ensure that your property remains safe and habitable for renters. By investing in preventative maintenance, you can save yourself a lot of time and money in the long run.

  • November 15th, 2022
In addition to protecting your investment, preventative maintenance is also important for maintaining renter satisfaction. Happy renters are less likely to move out, which can save you the hassle and expense of finding new ones. They’re also more likely to take care of your property and report any problems early on, which can help you avoid even more costly repairs down the road. What to expect from your property manager in terms of preventative maintenance As a property owner, it is important to have someone you can rely on to keep your property in good condition. This is where a property manager comes in. A property manager will typically be responsible for carrying out preventative maintenance tasks such as checking the condition of the property and ensuring that any necessary repairs are carried out in a timely manner. They will also liaise with contractors and suppliers to ensure that the property is being well-maintained. As such, a property manager can provide peace of mind that your investment is in good hands. When you are looking for a property manager, be sure to ask about their experience and track record. In today's increasingly bargain basement world of property management finding a cheap but inexperienced property manager is all too easy. Finding the right team who may not be the cheapest can save you problems in the long run not only on maintenance but renter selection, arrears management and legislative navigation. The right property manager will help you to ensure that your investment is in safe hands. How to work with your property manager to ensure that your investment property is properly taken care of When it comes to the management of your property, it is important to work with your property manager and establish the right level of trust in them to take care of your investment. Here are a few things you can do to build a strong working relationship with your property manager and ensure that your property is being properly taken care of: Establish clear expectations from the start. Discuss your expectations for communication, frequency of inspections, turnaround time for repairs, etc.Keep an open mind. Your property manager may have different ideas about how to care for your property than you do. They are a professional who will usually have significant experience not only in property rentals but also the area you have purchased. Listen to their recommendations and give them the opportunity to implement their plan.Be responsive. When your property manager reaches out to you with questions or concerns, respond promptly. The more responsive you are, the easier it will be for them to take care of your property. By following these tips, you can set the foundation for a strong working relationship with your property manager and help ensure that your investment property is well taken care of. At the end of the day, as a property investor, it is important to remember the importance of your own responsibility to your property when it comes to preventative maintenance. By working with your property manager and setting expectations for what you want in terms of preventive maintenance, you can ensure that your investment property stays in top condition. So if you’re looking to protect your investment and keep your tenants happy, don’t forget the importance of preventative maintenance. It may require some up-front costs, but it will pay off in the long run. Been burned by an inexperienced property manager neglecting maintenance on your property in the past? Speak with The Property Mentors' property management team to see how our professional team can ensure your property is looked after the way it deserves.


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