Stay Responsive While Lowering Your Costs
Costs ignored do not mean costs reduced. That’s an Arlington residential property management myth. It may mean you pay more in the long run. Here’s why. Regardless of how well your tenants treat your property, stuff breaks, systems wear out, and things need attention. Think of your current residence. How long is your honey-do list for short and long-term projects? The longer you put off needed maintenance, the bigger the problem may get and the more costly the repair. Additionally, delaying a repair could also mean frustrating your tenants and motivating them to move, leaving you with turnover and vacancy costs.
Specialized, a trusted Arlington property management company for more than 30 years, understands proactive maintenance. You want to increase earnings and reduce costs. We can show you how to do both. Here’s the plan:
5 Arlington Residential Property Management Steps to Reducing Rental Maintenance Costs
- Prepare the property between tenants, so it is clean, well maintained, and meets basic habitability standards and codes. This not only protects you from fees and potential lawsuits but also adds to the curb appeal of your home that will then rent more quickly. The best tenants want to rent the best properties.
- Plan for maintenance costs. This is the inevitable “other end of the stick” when you own a rental property. Set aside 1-2 months’ rent per year to allow for ongoing, routine maintenance and turnover costs when tenants move. Having money set aside will also reduce your anxieties when you have a significant repair need.
- Check proactively to catch problems that could become more expensive if left too long. Perform seasonal maintenance and routine property inspections inside and outside to help you solve small problems before they escalate.
- Respond promptly when maintenance is required. Not only will your tenants feel important – they are your customer after all – but they will take a cue from you and are likely to treat the property better as well.
- Use our discounts. That’s what friends are for. Rely on Specialized for preferred pricing and discounts on service, appliances, repairs, supplies, etc.
Being proactive and prepared will help you plan for and reduce your maintenance bill while increasing your chances of keeping your tenants happy. Happy tenants stay longer and are more likely to pay their rent on time. They also take better care of the home. All of this translates into, yes, increased earnings. That’s why you are in the Arlington residential property management business after all, right? Specialized is here to help you accomplish that. Learn more about our comprehensive list of services today.