Source: Essential Facts of Real Estate Management

Warren, Gorham & Lamont (WG & L) 

Maintenance speaks volumes about the quality of communication between the Landlord and the building's Tenants. Tenants view maintenance and management under one entity-when a Tenant is asked whether the property is well managed, he or she will likely give a reply based on impressions of maintenance. Since retaining Tenants is the best method for keeping vacancies low and turnover @ a minimum, a good, responsive maintenance program is imperative.  

All residential leases contain an implied warranty of habitability-a guarantee that the Landlord will maintain the premises in a livable condition, including but not limited to the common areas.

An efficient and responsive maintenance program ensures compliance with these obligations. 

In the quest to increase net operating income, the Landlord must not only manage rents, but must develop programs and guidelines to reduce costs. Unlike fixed costs, such as mortgage and insurance, maintenance costs are controllable. With a carefully planned schedule and budget, a Landlord can manage rather than react to maintenance problems 

Proactive maintenance strategies preserve and even maximize the value of the building, land and fixtures, promotes early identification of safety problems, which translates into fewer insurance claims.

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This web page was updated on 05/31/2004.