Is your property looking tired and dated? Don’t leave it to decline too far or you’ll find the cost of repairs start to escalate.
Instead, like a well-managed apartment building, you need a long-term maintenance plan. That means spending time and money each year to check that the basics are kept in good condition. Generally you’ll want to repaint and recarpet every two or three years, replace the kitchen and bathroom every 10 years and re-roof a house every 20 years. In between times you’ll need to think about the little jobs, like cleaning the guttering, checking the insulation and replacing window seals.
Spring is a great time to do some maintenance, but obviously you’ll need to do it between tenants. In order to do that, you’ll need to jump into action when you find out about an impending vacancy. Line up your tradies to come in and get going on the work as soon as the tenants leave, cutting down the time it takes and your vacancy period. Can’t find tradies? Talk to one of our property managers as we have lots of contacts in the industry and we might be able to help you get quotes or secure contractors.
When your place is ship-shape, you’ll have your pick of quality tenants and you may well be able to increase your rent. Plus, you’re looking after a major asset – it will be looking after you in the future.