Owning rental property is often depicted as a relatively simple investment that offer regular financial benefits to those who try it. However, managing rental property is more labor intensive and often more expensive than many property owners expect. For this reason, a growing number of landlords choose to hire property management services, such as rental property management companies or rental property managers, to handle problems and decrease their expenses. Often, this is accomplished by making simple changes to a building’s maintenance. Could you benefit by using some of these easy tricks?
Check Air Conditioning Filters
A dirty air conditioning filter strains the equipment, shortening its life, decreasing its efficacy, and increasing regular utility bills. Moreover, because the system is likely too clogged to filter the air properly, your tenants will be more likely to suffer from allergies and other issues. Cleaning or changing the filters regularly will therefore lower any utility bills you pay and also improve your tenants’ experience in the building by decreasing their monthly costs and respiratory problems.
Keep an Eye Out for Leaks
Before a new tenant moves in, make sure you check the unit’s faucets and pipes under the sink for leaks. By catching any problems early, you can avoid having to pay for repairs to the plumbing, floors and other areas that might be damaged by a sudden flood. Moreover, avoiding major problems helps keep good tenants around, and will also attract new ones.
Make Sure Your Tenants Are Using Their Dishwashers and Garbage Disposals
While you might equate use with wear and tear, some systems degrade if they aren’t used regularly. This is especially true for dishwashers, as the waterproof seal can dry out and cause leaks, and garbage disposals, which can seize up. Check these utilities every so often and ask your tenants to use their systems once or twice a month, or be ready to pay for repairs.
There are a number of unexpected costs associated with owning rental property. Fortunately, by taking good care of the property and making simple changes, you can avoid costly repairs and even decrease your expenses. Unsure about how to implement new steps or looking for other ways to cut costs? Consider talking to property management services in your area today. Get more here.