As a property manager, keeping your property looking good and functioning well entails year-round attention to its condition and routine preventive maintenance.
Upkeep is essential to maintaining the property’s value, attracting more tenants and staying compliant with state and local regulations.
Creating a Rental Property Maintenance Checklist
Basic routine maintenance includes tending to landscaping, picking up trash and keeping the property clean and tidy. The landlord is also responsible for ensuring the property’s structures, such as the roof, walls, driveways and sidewalks, are in good condition. Repairing these features can be expensive, so you should conduct routine inspections to fix minor issues before they become costly problems.
These tasks can feel overwhelming for a property owner, but breaking them down methodically into weekly, monthly and quarterly schedules can help you stay on top of your management routine.
For tenants’ safety and comfort, here are a few key things for landlords to keep an eye on:
- Smoke detectors.
- Water leaks.
- Heating, ventilation and air conditioning (HVAC) systems.
- Water heaters.
- Garbage disposals.
- Electrical work.
- Toilets.
- Drywall.
Conducting Seasonal Inspections
Seasonal maintenance depends on the location of the property and the local climate. Regular inspections allow you to identify issues early and address them to maintain the appeal and value of your property. Seasonal inspection reduces maintenance costs and extends the lifespan of various components. Each season comes with specific tasks.
Spring
As the weather warms up, check the property for any damage that may have occurred over the winter, such as freeze-thaw damage to stucco or concrete. Inspect HVAC units and replace filters as needed. Assess the landscaping and prepare for any spring or summer blooms.
Spring tends to be the time of year when the winds pick up in New Mexico. Inspecting your rental property after high-speed winds is essential for finding potential damage early.
Summer
Summers in New Mexico can be extremely hot. Inspect fans and the AC units. Check windows and doors for air leaks, gaps or cracks that require maintenance. Monitor irrigation systems and adjust watering schedules to conserve if necessary. Implement pest control measures and maintain lawns and gardens to keep your property looking its best.
Fall
As temperatures cool, inspect roofs for imperfections like missing shingles or leaks. Prepare the HVAC system for chillier weather. Check for any cracks or gaps in the building’s exterior that may allow cold air or pests — like ants, cockroaches or rodents — to enter.
Winter
During the winter, check heating systems and insulate exposed pipes to prevent freezing. Check and seal all windows and doors to prevent heat loss. Clear snow and ice as needed. Inspect walkways, steps and handrails to ensure they are in good condition.
Rental Property Maintenance Costs and Budget Allocation
Since maintenance is inevitable when you own property, you should have a dedicated budget. To determine what percentage of rental income goes to maintenance, consider applying one of these rules:
- The 1% rule: This entails taking 1% of your total property value and setting that aside annually to cover maintenance costs. This rule is effective because both factors depend on the price of materials and labor. If house prices go up, so will the cost of maintenance.
- The 50% rule: This rule stipulates that you should devote 50% of your rental income to maintenance costs, taxes, insurance, utilities and other expenses.
- The 5X rule: This rule states that the maintenance cost should be the monthly rent multiplied by 1.5.
- The square footage rule: This rule calculates maintenance costs at $1 per square foot of your property.
While it’s impossible to anticipate a repair emergency, successful property managers have systems in place to handle repair requests swiftly and efficiently at any time of day.
Choose Elevated Management Group to Conduct Maintenance for Your Rental Property
When you choose Elevated Management Group, you don’t have to worry about responding to tenants’ maintenance requests. Tenants can direct all maintenance requests to our office by phone or through the online portal. A qualified service person will arrive at their home as soon as possible to handle their issue. Contact us today and take the stress out of property maintenance and other aspects of rental property management.
