It is typical to have seasonal maintenance for rental properties. One of the most important tasks for landlords and property managers is to keep the property in good shape for the renters and preserving the quality of your investment. Below is a list of rental property checklists organized by season to help prevent issues before they arise.
Spring/ summer rental property maintenance checklist
Spring/ Summer brings the promise of better weather to come but also the threat of HVAC problems, among other things. However with a little preparation, property owners can combat impending spring time maintenance concerns.
Outdoor:
1. Inspect the roof
2. Replace or fix screens
3. Keep doors and window locks secure
4. Clean exterior vents
5. Clean gutters
6. Service the HVAC
7. Spruce up curb appeal
Indoor:
1. Test all emergency alarms
2. Test the thermostat
3. Inspect the attic
4. Check ventilation
5. Inspect the pipes
Fall/ winter rental property maintenance checklist
fall/ winter means the holiday season is approaching, but so is freezing weather and the need for heaters. However here are a few ways to be prepared in advance.
Outdoor:
1. Check for roof damage
2. Clean the gutters
3. Winterize outdoor spigots and hookups
4. Chimney cleaning
5. Prepare for snow removal
Indoor:
1. Prevent frozen pipes
2. Reverse ceiling fans
3. Service water heater
4. Look for water damage/ leaks
5. Prevent rodent infiltration
How to budget for routine maintenance
Both routine and emergency maintenance are something to plan and budget for. So what is the best way to anticipate expenses for rental properties?
• The 50% rule- this formula plans total operating cost to equal about half of the total rental income. This includes repairs, taxes, insurance and administrative services.
• The 1% rule- this helps investors plan for their years average cost of maintenance needs to be 1% of the value of the property.
• Square footage rule: this means you expect to pay $1 per square foot in annual maintenance needs.
As you can see all these will average around the same price. However take in to consideration that this could vary based on the age and condition of the home or property.
Final Thoughts
Preventive maintenance is one of the most important tasks for landlords and property managers. It requires a year around effort to maintain vital systems and prevent costly repairs. Many landlords opt to leave complex inspections, maintenance repairs, and other administrative work to the professionals. All County Property Management group can help you with keeping your investment in tip top shape! To find out how we can help you more please give us a call today!