What is Property Maintenance and Why It Matters
Keeping your real estate investment ready for viewing and rental is a responsibility that you need to do. Whether you’re the property owner or the property manager, keeping everything spick and span is not only a matter of keeping things hygienic. It’s also making sure that the property lasts while keeping its inherent charm.
With every investor, the cost is always a big deal. Then again, if you want to keep the value of your investment, spending on proper maintenance can be worth it in the end. Here’s everything you need to know about property maintenance, from what it is to why it matters.
What is Property Maintenance?
Property maintenance is a type of service for a real estate business where contractors provide cleaning and upkeep for the entire property. If you don’t have time to improve or keep the current condition of your investment, maintenance professionals are the right solution for you.
You can request valuable support maintenance, which includes professional-level cleaning, safety checks, and repairs throughout the building. You can also pick from a number of extra services that can make tenants and would-be buyers satisfied. These extras include:
- Lawn care
- Snow Removal
- Drywall Replacement
With so many options to choose from, the idea is to pick the ones that are right for you. It doesn’t matter if your facility is small or large. Consistent property maintenance will lead towards the protection from the elements as well as replenishing supplies necessary for keeping your investment operational.
How Does Property Maintenance Work?
Property maintenance companies can either start a maintenance contract with a specific property management team or perform maintenance on request. In most situations, it’s the former that’s more common, usually having a maintenance team on-site for a specific number of days.
Bigger properties may rely on maintenance teams to do the work at least once a week, if not every other day. Smaller properties without neither foot traffic nor tenants may only need their service once a month. Companies would also need to have real estate maintenance quarterly or biannually, depending on their needs.
The value of property maintenance comes from the support you get. Depending on the season, you would need to prepare your property for any upcoming weather events. For example, you want to request roof maintenance in spring to prevent water damage during the storm season.
At the same time, you would also want to get HVAC maintenance for your property in the spring or fall. During these periods, you need to keep your property cool if there are tenants. During winter, heating can be crucial to prevent frost damage, as well as issues associated with accumulating snow.
Why Does Property Maintenance Matter
So, now that we understand more about property maintenance, why does it matter? At its simplest, the value of property maintenance comes from hiring people to help your investment last longer. Whether you’re trying to reduce property damage caused by summer heat or need to clip the lawn, maintenance keeps everything aesthetic.
It Makes Your Property Desirable for Tenants
One of the most important reasons why property maintenance matters comes from the need to make a property desirable. Most property managers plan to lease the premises, so much of its value relies on people wanting to rent. To make it more attractive, you want to make sure the property is not only functional but beautiful too.
An attractive property involves many different elements, many of which are generally subjective. Much of the desirability can come from how clean the property looks, as many would rather rent from something that has good optics, to begin with. There’s also the general feel of the property.
Hiring a team for the maintenance of a building can help keep the property looking beautiful and in excellent condition. It shows how professional you are as a property owner, as well as showing a positive outlook towards the property. Badly preserved real estate will only gather negative impressions from would-be tenants.
Preventive Maintenance Keeps Your Property Functional
Other than ensuring that your property is desirable, another reason why you need to hire a property maintenance team is, well, maintenance. Many property owners underestimate how many things you need to keep in order for existing and future tenants. Preventive maintenance saves you a lot of time, money, and unnecessary grief.
Rather than react to issues that come out once they’re in full swing, preventive maintenance keeps everything in working condition. These can be anything, from your roofing, drywall, electrical, plumbing, to HVAC. Having a team come over and do some occasional cleaning and spot checks can come a long way for your property’s longevity.
For example, electrical maintenance checks for potential issues in wiring, electrical supplies, and appliances. It checks for any wear and tear and if there are any minor repairs that need to happen. Doing simple repairs now can save you thousands down the line. It also lowers the risk of fire and other issues that come from electrical damage.
Property Maintenance Saves You Money
Let’s be real: real estate investments receive damage from the elements all year round. No property in the world stays pristine and your property is not immune to changes in the environment. Rains, hot summers, dust, storms, snow, and any inclement weather can cause general wear and tear.
As you ignore these issues, they accumulate over time, resulting in bigger damages and more troubles down the line. With property maintenance, you save a lot of time and money. It reduces the time spent repairing things and keeping things in order, giving you more time to work on other things with your business.
Simple, straightforward repairs are easy to do but pay for themselves if you get tenants interested in your real estate. It saves you thousands upon thousands of dollars from having to make full replacements. Smaller repairs can also be inexpensive, especially if you catch issues very early into their life cycle.
The Bottom Line
Looking to make the most out of your investment properties? If you have no time to take care of them yourself, property maintenance has you covered. With consistent maintenance, you keep your investment valuable. You increase its longevity while pushing down the cost of maintenance and repairs.
If you’re looking to keep your properties in tiptop shape, hiring a property maintenance team is the right move. What little money you invest now towards maintenance can save you a lot more in the future.