Investment Properties are without a doubt an excellent way to build wealth and consistent monthly cash flow but if property maintenance is ignored, the rental property will ultimately fall into a state of disrepair and this will affect the ROI that comes from owning the investment property.
If you own investment properties and have been struggling with maintenance, this article will provide you with tips you can use to get your investment property maintenance back on track.
What Is A Quality Maintenance Process?
Before dispatching someone to take care of maintenance at your investment property, it’s important for you to define what is a quality maintenance process.
Having a quality maintenance process should include following these 6 steps:
- Receipt or submission of the maintenance request.
- Sending someone out to troubleshoot the problem and confirm if a professional is needed to handle the repair.
- Dispatching the right professional to the job site so that they can review the work that needs to be done and offer you a quote.
- Receiving approvals and quotes from professionals who are interested in working on the job.
- Choosing the right company to do the work then following up to make sure that they execute the repair.
- Following up with your tenant to confirm that the repair was done.
What Is A Quality Repair?
A quality repair is work that’s done on time, correctly and to your tenants satisfaction. This is vital because if your tenant feels like their needs matter and are being attended to, they will be more likely to renew their lease instead of looking for another rental.
Are You Tired Of Managing Your Rental Yourself? Contact Us
Managing a rental property can without a doubt turn into a full time job if it’s not done right. If you’re tired of managing your investment property yourself we encourage you to contact us at (831) 484-4604 or click here to connect with us online.