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Tip #142: Repair… or Despair

Those annoying little maintenance issues, like cracked caulking or leaky flashing quickly lead to significant damage, and exponentially increase your costs of owning a rental property.

To make sure you are staying on top of maintenance:

Conduct periodic inspections of the rental property.  In the winter, check windows and doors for gaps, the roof and gutters for leaks or clogs, and be sure the furnace filter is fresh to increase the life of one of the more expensive appliances.

Frequent inspections also provide an opportunity for your tenant to alert you to possible maintenance issues, like a sudden surge in water or heating bills, or a leaky faucet.

Train your tenants to contact you as soon as they sense a problem or need a repair.

Perform repairs as soon as possible once you discover a problem– because waiting will only make matters worse. And that’s going to cost you a whole lot more than a tube of caulk, a rubber washer or a furnace filter!

See last week’s Landlord Quick Tip.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

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