Why Renovations, Repairs and Maintenance?
Many owners of property management companies don’t own any properties themselves, so are willing to go along with whatever the client thinks is best, even if it isn’t!
We own many rental investments, and manage many more. We believe it’s best to always keep units in mint condition and, if you have the budget, do more detailed renovations as possible. Not only will you get more rent, but it will rent quickly and to a qualified tenant.
It’s important to maintain an excellent property, especially when these are homes for rent. This includes general maintenance, repairs and renovations. Such upkeep will attract the best tenants at the highest rents and assures you’ll get top value when it’s time to sell the house.
Of course, maintenance is dependent on what kind of a property you own and what area it’s in. It doesn’t always make sense to have the most amazing renovated house in the worst area, since there might not be a great return on your investment. Here’s where an experienced property manager is worth their weight in bricks.
Timely repairs are critical for keeping quality tenants happy. They also prevent any issues from worsening, which can compromise the property.
Properly maintaining your units will also lower ongoing maintenance expenses over the long term. If your plan is to hold the property for a long time then some renovations might increase its value while reducing the ongoing maintenance costs.