Ever heard that phrase, “If it ain’t broke, don’t fix it?” A lot of Dallas property managers use that strategy when it comes to their rental. They ignore the minor issues and don’t take care of any repairs until they are absolutely essential. At Specialized Property Management, we don’t believe in that strategy.
We know that the best way to lower your maintenance costs is to prepare for the worst so you’re covered no matter what happens. We want to give you some tips on how to reduce maintenance costs and also keep your tenants happy.
Set Aside Money for a Rainy Day . . . or a Leaky Sink!
Take the equivalent of one or two month’s rent to pay for future maintenance expenses, or about 10% of the rent per month. If your rental is older, then it’s smart to set aside slightly more. The older the home is, the more maintenance issues you may encounter. Then when you do have to pay for a repair, you won’t take the major hit to your credit card.
Figure out Your Preventative Maintenance Protocol
Is the tenant responsible for changing the air filters, or is that your job? Are you going to have quarterly property inspections or semi-annual ones? Will you take care of trimming the trees or pay someone to do it for you? You should make a list of what your property will need throughout the year and who will be responsible for it. A successful Dallas property manager plans ahead so there won’t be any surprises.
Respond Immediately to Your Tenant’s Concerns
When you listen and respond to your tenant’s needs quickly and efficiently, you are going to earn a reputation as one of the Dallas property managers that’s great to lease from. You want your tenants to tell their friends what a great experience they had with you and how you took care of their maintenance issues right away. Overlooked or ignored maintenance calls are one of the primary reasons why tenants leave.
Take Care of All Safety and Health Issues
If a tenant reports a problem like mold growing in their bathroom, you should know to take care of it right away. When maintenance issues stand in the way of a tenant’s health or safety, you could be in legal trouble if you do not take care of it. If you are a Dallas property manager who lives out of state, compile a list of handymen or companies you trust to take care of the repair for you.
Only Specialized Property Management has the experience and knowledge to help you succeed as a rental property owner, while also keeping your maintenance costs down. You can also rely on our experts to be on call 24/7 for your tenant’s maintenance issues. Put us to work for you today!