TIP OF THE MONTH - April 2013

Techniques and Tools for Managing

Source: Property Management for Dummies
              By Robert Griswold

The number one complaint of tenants, and the bane of all rental owners, is deferred maintenance.  Not really a type of maintenance at all, deferred maintenance is the result of obvious repairs that are not properly addressed in a timely manner.  Common examples are peeling paint, broken screen doors, overgrown landscaping, and minor roof leaks in the garage. etc.  Although every property has some deferred maintenance, your goal as an owner is to keep it to a minimum.

Properties with great curb appeal are easier to manage and generate higher returns on your investment.  So if you are willing to spend money to improve and upgrade the appearance of the exterior and individual rental units, you will reap the rewards.  Examples of cosmetic maintenance or upgrades include replacing old countertops, installing new light fixtures, repainting, installing new window coverings, and decorating with wallpaper.

Even though you may be assertive in properly maintaining your rental property through regular property inspections and diligent interior maintenance upon tenant turnover, there will always be an ongoing need to make repairs.  

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This web page was updated on 04/03/2013.