Keep Your Rental Property Maintenance and Repair Costs Down
With a rental property, being proactive can yield cost savings without affecting the quality of life of tenants. However, property repair and maintenance is one area where expenses cannot be escaped, nor should they be. Whether it’s something major such as an HVAC unit going kaput or damages by a less than careful tenant, something can and will happen. A few tips may help reduce repair and maintenance costs.
Screen beyond the credit check. Credit checks are fundamentally important but if you aren’t contacting previous landlords to ask about the prospective tenant or requesting references, you may be setting yourself up for expensive costs. There are, unfortunately, tenants that have no issue with losing their deposit and trashing the place. You can never be too diligent in your tenant selection.
Be proactive. Similar to the way a regular doctor checkup can reveal health issues before they become a major problem, preventive maintenance may result in thousands of dollars in savings. Ensure the smoke detectors are in proper working order, perform regular maintenance on the cooling systems, and check for leaks.
Check your vendors. If you are trying to reduce maintenance costs where applicable, it is critical that you partner with trustworthy vendors. You have access to skilled, screened, and trustworthy contractors by partnering with a trustworthy vendor.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.