Tip of the Month - January, 2019
Source: Principles of Real Estate Management-5th Edition (IREM)
Maintenance is the
key to superior presentation and optimal function; it preserves-and
sometimes improves-the condition and, therefore, the value of the
property. Regular cleaning and repairs are
necessary to keep tenants comfortable. The objective of
maintenance, like that of every other aspect of real estate management,
is to meet the goals of the owner. A comprehensive maintenance program can provide benefits for the owner.
Tenant retention: The owner will have less
expense for turnover of rental space because tenants will be inclined
to renew their leases.
Reduced operating costs, preservation and
enhancement of property value. Deferred maintenance may cause the
greatest loss that an can suffer on a real estate investment.
Safety is also an issue. Regular maintenance reduces potential hazards and provides a safe environment for everyone on the
TIP FROM CROSSETT REAL ESTATE SERVICES
Preventative maintenance: Energy issues: leaking faucets, running toilets, shower heads, leaving lights on, checking thermostats.
This web page was updated on 12/26/2018.