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Why Does Regular Maintenance of Your Rental Properties Matter?

Why Does Regular Maintenance of Your Rental Properties Matter?

The national average cost of replacing an HVAC system is $8,267. The average cost of an air filter is about $20. 

By spending $20 and 20 minutes of your time to change your air filter, you can help to keep your HVAC system in good condition. That is the power of regular maintenance.

When you get into real estate investing you need to treat your investment with respect. Even though regular maintenance may seem like a lot of added time and work, it is critical if you want your investment to be successful. 

In this post, we'll go over some of the biggest reasons why regular property maintenance should matter to you.

Keep reading to learn more.

Fewer Big Maintenance Expenses

By doing regular maintenance you can catch little problems early before they turn into big, expensive problems. By regularly checking on and fixing things like your HVAC system, your roof, or any other major part of the property, you can help to prevent any big fixes down the line.

While something like a couple of broken shingles on your roof may not seem like a big deal, if it's not fixed in a timely manner it can lead to major leaks and damage. 

By keeping up with maintenance instead of waiting for things to become dire, any repairs you do need will typically be much less expensive since they were caught early.

Happier Tenants

Your tenants deserve to live in a safe, happy environment. By taking care of the property, landlords can show tenants that they care and respect them. This makes the tenants feel valued and makes them more likely to treat the property with respect, and generally makes for overall happier tenants.

One of the reasons that people rent is so that they don't have to be responsible for the maintenance of the property. Therefore you need to live up to your responsibilities to take care of it for them.

When your tenants are happy with the property and your property management, they are less likely to leave. This is great for you because turnover and any vacancies get expensive fast. 

Having a good relationship with your tenants also helps when it comes time for rent collection, property inspections, or even rent increases.

Faster Turnover

If for whatever reason your tenants do leave, the turnover will be shorter and less work-intensive. Because you've kept up with the regular maintenance you shouldn't have a significant amount of things to fix.

This means you can start marketing the property and working on leasing it that much faster. Prospective tenants will appreciate being able to see the unit in good condition which will help to attract good quality tenants.

Additionally, if you keep up with necessary appliance updates, you won't have to do them all while trying to find a new tenant either, and you can use the updated appliances in your property marketing.

Keep Up With Regular Maintenance at Your Property

By doing regular maintenance at your investment property you will keep your property in good shape, have happier tenants, and save on big repairs. If you make this a priority you will reap the benefits.

If you're in the Tampa, FL, area and are looking for help with your rental property, we can help. Contact us today!