Real Estate Pro Articles
   
   

Landlord tips: Keeping Up with Maintenance and Reducing its Cost



[Valid RSS feed]  Category Rss Feed - http://www.realestateproarticles.com/rss.php?rss=270
By : Vicki Hat    99 or more times read
Maintaining a rental property is one of the most important tasks of the landlord. This needs to be done because it is the landlord's responsibility to keep it in a good condition and ensure never ceases to be livable and free from threats to health and safety. Aside from that, the law mandates that landlords should offer a rental property that is safe for dwelling and that the landlord holds this obligation towards his or her tenants.

However, maintenance reduces your rental income. This is one of the operating expenses of the business is inevitable. If you are not smart with it, you'll probably lose a lot of money; hence, reducing your gain. When you are running a business, this is not what you should be settling for. Remember, lesser cash on hand would forgo opportunities that could proliferate your rental business.

So do not allow your money to go to waste just for maintenance expense. If you want to save from it, follow these tips and see a growth in your profits:

  1. Share the responsibility of maintaining the property with your tenants. You can actually let them sign an agreement that they will be the ones to shoulder expenses for minor maintenance cleaning their lawn, shoveling of snow, garbage disposal and payment of utilities.

  2. Part of the agreement is to let the tenant be accountable for any damages made to the property. Hence, you need to establish a baseline data in order to determine if the problem was an impending or a new one. To do this, you and your tenant should inspect the property and make a checklist, before the tenant could move in. Then this should be kept for future references.

  3. Inspect the property regularly. This needs to be done to prevent the worsening problem of a particular component. If you do your regularly inspection, you will also be able to identify possible threats to safety and health. As a result, you can avoid legal suits for injuring a tenant. You should also include this in the agreement and make the tenant understand its importance.

  4. Encourage your tenants to report minor or major problems the soonest. You can do this by posting your number on the rental agreement so that in case of emergency they know where to call. Doing this also allows you to respond to their needs promptly and at the same time, prevents the problem from getting bigger.

  5. If you plan to upgrade your rental property, think of installing low-maintenance products. If you cannot do this, create a list of do's and dont's so that your tenant would know exactly how to operate the appliances and what possible actions causes its destruction. Educating your tenant can guide them on how to properly use the appliances; hence, preventing breakdowns and premature repairs.

Creating a maintenance system is vital in saving money. Hence, you as the landlord should take this seriously so that you could fully enjoy the fruits of your business.
Find more real estate tips in renting by visiting Real Estate in Terramar, Terramar Three-Bedroom Homes for Sale and Peoria AZ Terramar Homes for Rent.

Related Articles



Actions
Print This Article
Add To Favorites



Sponsors

 

 

© All rights reserved to Real Estate Pro Articles