How long are you planning to hold your Roseville investment property? The longer you hold onto it, the more money you’re likely to make.
As long as you maintain that property.
If you implement good maintenance policies and practices now, you’re more likely to increase the value of your asset.
You maximize what you earn, you’ll need to know how to best maintain it through tenancies, tenant turnovers, and vacancies. You’ll need best practices when it comes to caring for aging appliances, deteriorating floors, weather-worn roofs, and landscaping.
Here’s how to maintain your Roseville rental property over time.
Preventative and Seasonal Maintenance Boosts Value
Preventative maintenance every month or every few months can prevent costly repairs and ensure your investment is in good condition over the long term. You don’t necessarily need a licensed contractor or inspector to take care of these things; you can take care of them yourself when you happen to be on the property, responding to a need that your tenants have or preparing for turnovers.
Here’s what to take care of on an ongoing basis:
- Air filter changes. Inspect your HVAC system and take a look at your heating and cooling unit whenever you get the chance because replacing it will cost thousands of dollars. In Roseville, we use our heat and our air conditioning. You’ll want to keep those systems running efficiently.
- Preventative plumbing. Always look for leaks and signs of water intrusion. Water can be problematic, whether it’s a burst pipe or an irrigation system that is out of control. Keeping your plumbing system in good shape will contribute to the long-term health of the house.
- Inspect the exterior of the property. Look for tree branches that may be dangerously close to the windows or knocking against the roof. Check for foundation issues, gutter and drainpipe clogs, or any safety issues such as uneven pavement
You can’t show up at your occupied property every month with the intention of conducting these checks. But, you can let tenants know that you’ll conduct a maintenance walk-through once or twice a year to make sure there aren’t any issues that need attention.
This type of preventative maintenance catches problems right away and allows the systems and functions of your home to last longer.
A lot of your maintenance over the years will be seasonal. While we won’t have to worry about snow or freezing temperatures very often, it’s always a good idea to winterize your property by checking insulation and draining sprinkler systems. Inspect your landscaping before the summer heat sets in and make any upgrades you can to reduce the amount of water your property needs.
Put Together a Preferred Vendor List
Maintaining your investment property over time will require a team effort. Some of your best team members will be the vendors and contractors you work with to keep your property in good shape. When you develop relationships with these professionals, they get to know your property. That personal relationship and expertise can help you take care of it now and in the future.
Not sure where to find vendors you can trust? It may take some time to build up a list that’s as long as you need. This is one of the best reasons to work with a Roseville property management company. You get some pretty great vendor relationships with that partnership.
Property managers have their own in-house maintenance teams or they have access to the best vendors and contractors in the area. These are licensed and insured professionals who stand behind their work. The long term care and maintenance of your investment property will require a great network of vendors.
If you’re managing on your own, start gathering your preferred vendors early. Start with a plumber and then keep asking for referrals until you have a great team put together. These are the professionals who will let you know when attention is needed or a seemingly minor repair is actually something more serious.
You simply cannot maintain your property over time without the help of great vendors.
Educate Your Roseville Tenants on Maintenance Responsibilities
Like we said – this is a team effort. Your vendors are on your team, and so are your tenants.
Roseville tenants have an important part to play when it comes to maintaining your property over time. While you’re likely to have several different tenants over the years, you can still establish some expectations and assign some responsibilities. Tenants will come and go but if they’re all taking care of your property consistently, you can expect less deterioration, wear, and tear.
The most important thing you can do is stress to your tenants that you want to be informed right away if any work is needed. When they notice that something is broken or needs to be replaced, you want them to tell you as soon as possible. Those deferred maintenance issues are expensive. Sometimes, tenants will fear they’re bothering you. They’ll worry that a repair request is too minor.
But, you still want to know what’s going on. Even if it’s minor. Even if it’s a cosmetic issue.
Don’t wait to respond. Take care of maintenance requests right away. It’s the only way to protect your property’s condition and value for the long term.
Your lease agreement should tell tenants what they’re responsible for. If they cause any damage, they’re obviously required to pay for it. You can also put them in charge of replacing air filters, batteries, light bulbs, etc.
Sometimes, owners will want their tenants to take care of lawn care and landscaping. This is acceptable, especially in single-family homes. However, if you have certain standards that tenants might not be able to meet, it’s better to hire a landscaping service and roll those costs into your rental amount.
Well-maintained rental properties rent for more money and to better tenants. They also appreciate faster and provide you with a stronger investment portfolio. If you have any questions about how to ensure your Roseville investment properties stay attractive, functional, and valuable over the long term, please contact us at Action Properties.