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Best Real Estate Property Maintenance Tips
Data collected in the 1st quarter of 2023 by Statistics Finland states that real estate maintenance costs have risen by 11.5 %. So, before investing your valuable money in your estates, let’s look at the best real estate property maintenance tips.
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Go for regular inspections
Develop a comprehensive maintenance calendar that outlines specific inspection dates for each property in your portfolio.
Use property management software or apps to automate scheduling, send reminders, and track inspection history.
Plan seasonal inspections to address weather-related issues, such as gutter cleaning in the fall and HVAC maintenance in the spring. Notify tenants or occupants well in advance about upcoming inspections.
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Do repainting
After the inspection, you’ll get an idea of the existing paint’s condition. Identify areas that need repainting and determine the type of paint required.
Purchase high-quality paint, primer, brushes, rollers, painter’s tape, drop cloths, paint trays, and other tools.
Repair any cracks, holes, or damaged areas by filling them with spackle or putty. Then, inspect the painted areas for missed spots, uneven coverage, or imperfections.
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Address leakage
Look for signs of water stains, discoloration, or peeling paint on ceilings, walls, and floors. Check for dampness or musty odors, which may indicate hidden leaks.
Check the exterior walls for cracks, gaps, or damaged siding that may allow water to seep in. Consider hiring a professional plumber or contractor to conduct a more comprehensive inspection if you notice any leakage.
Reach out to good commercial roofing services to fix your roof and lock the moisture outside. Speak to roofing materials manufacturers to get a hold of the best roofers!
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Hire a property management company
Research and shortlist potential companies that align with your needs and have positive reviews. Verify that they are licensed, insured, and registered according to local regulations.
Discuss the pricing structure and any additional fees for maintenance services, emergencies, or after-hours support.
Compare different property management companies to make an informed decision.
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Monitor pest activity
Research and hire a reputable pest control company with experience in real estate properties. Look for cracks, gaps, or holes in the walls, foundation, and roofing from where pests might enter.
Seal entry points using caulk, weather stripping, or other appropriate materials.
Thoroughly inspect the interiors, including basements, attics, crawlspaces, and utility areas. If the property is leased, educate tenants or occupants about proper pest prevention measures and promptly report any pest sightings.
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Get good insurance
Evaluate the risks associated with your real estate maintenance activities, such as property damage, liability claims, natural disasters, and more.
Explore different maintenance insurance policies, including property insurance, liability insurance, and specialized coverage options.
Ensure that the offered coverage limits protect your assets and potential liabilities.
Regularly review your insurance coverage and needs. Update your policies as your real estate portfolio and maintenance activities evolve.
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Focus on outdoor cleanliness
Ensure that outdoor lighting fixtures are clean and functional, enhancing safety and aesthetics. If your property has a pool or water features, regularly clean them.
Periodically use pressure washing to clean outdoor surfaces such as sidewalks, decks, and fences. Rake leaves in the fall and clear snow in the winter. Keep trash and recycling areas organized and clean.
Pay attention to landscaping details, including trimming bushes, weeding, and keeping walkways clear of debris.
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Explore Property Management Software
Centralize maintenance requests from tenants using the software. Thus, they can submit requests online, including details and photos.
Maintain a database of preferred vendors, contractors, and service providers within the software. Easily assign tasks and track vendor performance.
Keep tenants, owners, and relevant parties informed about the status of maintenance requests through automated notifications and updates.
Set up automated reminders and schedules for routine preventive maintenance tasks, such as HVAC servicing or gutter cleaning.
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Plan and manage expense
Categorize maintenance expenses, such as routine maintenance, repairs, upgrades, and emergency repairs.
Prioritize expenses based on urgency, safety, and potential impact on property value. Address critical repairs promptly.
Monitor maintenance expenses and budgets within the software to manage costs efficiently.
Keep emergency funds to cover unexpected maintenance expenses, such as sudden repairs or weather-related damage.
Regularly compare actual maintenance expenses to your budgeted amounts and review your maintenance budget.
Conclusion
Maintaining a real estate property is an art that requires a combination of diligence, expertise, and strategic planning. By following the best maintenance tips outlined in this blog, you’re equipped to preserve your property’s value and functionality, enhance tenant satisfaction, and safeguard your investment.
Read More – Why Invest in Real Estate?