When you get to the point where you can rent out your extra property, your responsibilities will be very specific. Basically, you will need to do only two tasks every month: pay the mortgage and repair the home. Good maintenance is not only part of the contract, but also advantageous for you.
There are many reasons that it’s important to keep a house in good condition. At a very basic level, it’s about safety. You want your property to be a place that you or your tenants can feel safe living in. That means that all parts of the interior and exterior should be up to code. They should also have potentially dangerous or hazardous issues taken care of as soon as possible. That’s the thing with maintenance – even if a problem seems small, it can grow into an exponentially larger issue if neglected. It’s always best to take care of everything as soon as possible. That way, there is minimal risk that somebody gets hurt.
Create a Better Relationship With Tenants
The key to having a good experience as a landlord is good tenants. A big part of having good tenants is having a good relationship with them. Your tenants are human beings with real problems. Both of you have signed a contract that legally requires you to maintain the property. It’s a show of good faith when you act swiftly and diligently to repair whatever problems may come up. On the other hand, tenants who you have a good relationship with will want to pay rent on time. Satisfied tenants tend to stay in your properties longer as well.
Keep Up the Value of the Property
The condition of your property has a big effect on the value. By keeping it good, you will be saving yourself money in the long run. Applicants who are looking for a place to live will either turn away from a dilapidated property entirely or they will want a lower price. When the property is nicer and better kept, you will be able to ask more from those who rent from you. It will also be more attractive to potential renters. Repairs are always going to be a good investment for you.
Maintenance is undoubtedly a pain. It always seems to come up at the most inopportune moments. But as annoying as it can be, it’s essential that you organize and motivate yourself to get it taken care of. If you don’t, you just might regret the outcome.
Check out this article on maintenance that can help fortify your home against the elements!