Investment property ownership comes with many perks. However, you should also expect a fair share of responsibilities. Like any property, an apartment needs routine upgrades and maintenance to remain functional.
As a property owner, one of the most important responsibilities is maintaining the property and repairing things when necessary. While this can be stressful and costly, if you plan and budget for repairs you’ll have money to tackle these problems.
Otherwise, you’ll need to pay out of your pocket. Here’s a list of common problems you can expect and how to handle them.
These are among the most recurrent problems landlords must handle. Renters use bathtubs and sink several times and unless the renter is conscientious about drain care, clogs are inevitable.
Consider installing drain screens, issue clear instructions when it comes to drain care, and put a limit on the number of times you’ll repair this problem at your expense per year.
You should also request renters not to pour grease or other chemicals down the drain and ask them to clean the drain stoppers and pour boiling water once a month down the drains. You might also want to leave a plunger in the event that tubs and sinks begin draining slowly.
Most landlords know that these appliances usually need repair during summer. You should treat a malfunctioning AC unit as an emergency repair and call in professionals to handle the issue. You should also consider servicing the unit regularly as a proactive way of staying on top of your unit’s status.
This way, you won’t be surprised when it needs replacement or repair. Preventative maintenance is crucial when it comes to sustaining your air conditioning and heating units.
Consider replacing the furnace filters after three months and calibrate the thermostat yearly. You should also clean the AC’s evaporator every spring and ensure you clear the area around the condenser.
It’s imperative you maintain an open communication line with your renters. Otherwise, the repairs could cost you a lot of money. Beware that a seemingly minor drip in the bathroom sink or kitchen could affect your water bill considerably.
The faster you tackle the problems, the easier they will be to repair. You can repair most plumbing problems yourself but not all. If you’re not careful, you could turn a simple problem into a major disaster.
In this case, don’t attempt any repair if you don’t know what you’re doing. While it’s understandable to try to save money, beware of your limitations. Don’t ignore plumbing issues either because they’ll cost you more eventually.
This task can be annoying for most landlords because most of the time it’s the renter’s fault. Rodents and bugs like crumbs, so renters with clean units rarely experience this issue. That said, you have a responsibility to handle any infestation.
You can handle this problem on two fronts: educate the renter and hire a pest specialist to handle the problem, usually costing hundreds of dollars. Alternatively, you could seal any holes that rodents or bugs might be using to enter the property regardless of the size.
Maintenance issues are inevitable for any rental owner and these issues typically increase with the number of renters you have and the properties you own. Although landlords receive these complaints often, they can become difficult to handle. Fortunately, these tips will help you handle the unavoidable maintenance issues.
For more information on how to prepare for common maintenance problems, contact us at Apartment Agents or leave a message.