Property Management Preventative Maintenance

Property Management Preventative Maintenance

Property Management & Preventative Maintenance

Property management and preventative maintenance go hand in hand. In fact, managing a rental is not just about collecting the rent and calling it a day! As a landlord, you must acknowledge the importance of preventive maintenance. The reality is, you will not enjoy long-term tenant retention and an acceptable return on investment, unless it is maintained properly.

There are two important factors landlords have to deal with: how long it takes to rent your property, and vacancies. Yet, in spite of this, many landlords are guilty of neglecting the importance of preventive maintenanceAs a rental property owner your sole priority is to ensure you do all you can to maximize your investment. And a well-maintained property not only ensures happy tenants, it also ensures higher rents.

Preventative Maintenance does not cost it pays!

Property Management Preventative Maintenance

Preventative Maintenance: Good Property Management

There are many variables that impacts rents such as, the age of the rental property, the location of the rental property, surrounding competition, and perhaps the most important the appeal of your rental property. Rental properties naturally deteriorate overtime, and without a preventative maintenance plan in place, and a budget set aside for it, you will end up spending a lot more than you could ever imagine. Preventative maintenance can be thought of as a way to fix problems before they happen. In fact, by having a preventative maintenance plan in place, problems are found before they become a major complication.

To fully understand what we mean there are two ways to look at how you maintain a property, one is proactive maintenance and one is reactive:

Preventative & Routine Maintenance (On-going & Proactive):

  • This type of maintenance might consist of:
    • Cleaning common areas
    • Landscape maintenance
    • Regularly scheduled checks and services of HVAC systems (heating and air)
    • Regularly scheduled checks of plumbing and electrical systems
    • Proper upkeep of rental property components including roofing, flooring, wood, and any other structure components

Repairs & Corrective Maintenance (Higher Maintenance Requests, Higher Labor & Reactive):

  • This type of maintenance might consist of:

Proactive VS. Reactive Maintenance

To be proactive, is to control a situation by causing something to happen rather than responding to it after it has happened. To be reactive, one is acting in response to a situation rather than controlling it. Proactive maintenance focuses on preventing problems before they happen, and reactive maintenance, reacts to problems as they occur.

In the long-term, proactive maintenance will save you not only money, but also the headache of dealing with costs, which they may not have budgeted for in the first place.

To fully understand the impact proactive maintenance vs. reactive maintenance can have on your bottom-line, we compare the two below:

Proactive Maintenance:

  • Helps prevent repairs
  • Keeps equipment and systems performing better and longer
  • Reduces the labor needs to perform repairs and fixes
  • Time spent on maintenance sessions is less then reactive ones
  • Higher initial costs, lower long-term costs

Reactive Maintenance:

  • Lower initial costs, higher long-term costs
  • Lack of preventative maintenance leads to an increased number of reactive repairs and fixes (emergency calls, and so on)
  • Equipment and systems are less reliable and more often then not, may require multiple maintenance calls just to get it back to working order
  • Labor intensive
  • Takes days versus minutes or hours, to repair, fix, or rehab
  • Requires more labor in man-hours and overall efforts
  • Requires more time to perform maintenance