As the landlord of a property, you want to ensure your investment is looked after. Although there are laws to ensure that tenants of a property live in a safe and habitable environment, it’s also imperative that the landlord keeps their property in top condition from a financial point of view. A property in great condition means regular income from tenants, higher market valuation and strong peace of mind.
After working with tonnes of landlords and real estates over the years, we strongly encourage property owners to instil a regular maintenance schedule with our hubbies to assist with deterioration of certain elements around the home, protect tenants against potential safety hazards and ensure that the property is always producing the highest amount of income as possible.
From a cost point of view, we’ve found that those with a regular maintenance schedule ended up paying less in repairs over the years. Fixing the problem or acting proactively has positive consequences on your overall spend toward the property.
“Another factor which can affect the quality of tenant applying for a property is cosmetic maintenance. Touching up the paint job on interior walls when the property is between tenants is a simple task, and is reasonably inexpensive… It may also enable you to add extra dollars to the rent that you charge the next tenant. The same approach applies to replacing aging fixtures and appliances.”
Source: http://www.realestate.com.au/blog/why-landlord-maintenance-matters/, 10 June 2013.