Property maintenance is one of the key factors that every real estate owner should know and do. Keeping your estate well-maintained and pleasing will attract the interest of possible tenants and boost its overall market value.
Maintaining a real estate also amounts to the safety of your tenants. Having a rundown real estate would make them more likely to decline your offer. Even if they accept the offer, it is not sure if they would stay for long.
Having said that, there area few important factors that you should take to consideration when doing maintenance.
What are the key factors that you should take into consideration when doing maintenance?
- Cost – it refers to the amount of materials, equipment, and overall requirements for a maintenance. Doing some canvassing may help you conduct estimates regarding the costs necessary for the materials and maintenance from providers such as Phoenix HOA management services.
Moreover, according to Investopedia.com, doing monthly maintenance could put a dent in your bank account than you would by having a condominium. Having monthly maintenance is too impractical if you only do small maintenance. It would be better if you perform full-scale maintenance every 6 months to lessen the expenses you would have.
- Trustworthy maintenance providers – maintenance providers are the ones who do maintenance work for your real estate. Choose the maintenance provider who can provide you good services and offers everything you could ever need. One prime example is Phoenix HOA Management Services, a company that offers a range of maintenance services that would suit your needs.
In addition, it is beneficial if you befriend a few contractors that you trust.
If you intend to maintain your real estate property by yourself, it would be beneficial to canvass for cheap but high-quality materials. Asking other maintenance providers for opinions and suggestions can also help. However, keep in mind that doing so will only limit you to small maintenance work on your property.
- Time – this refers to the duration the project should take. Maintaining your property would probably take less than a day for small projects and maybe a week or two for larger ones. It also refers to the length of time you should take before having to do maintenance again.
It is advisable for real estate owners to do big maintenance project during the time when real estates are still unoccupied.
Is it important to do regular maintenance on your property?
Basically, yes.It is no doubt important. Having a pleasant and well-maintained real estate property will determine the type of tenants and residents who will become interested with your offer.
If you want to have good tenants, it would be ideal if you have a well-maintained real estate property. Keep in mind that some tenants don’t even care about the location as long as it’s well-maintained and safe to live.
Still, don’t forget to remind your tenants that having to maintain the property is necessary. They might be entitled to use your property because they paid for it.However, they also must take responsibility for the maintenance.