Whether it is your own home or an investment property, wear and tear is inevitable. However regular maintenance ensures that the property’s value is upheld and helps avoid those larger expensive bills.

Just like our cars require regular servicing and repairs to avoid breaking down, your home or investment property requires the same attention with routine property maintenance.

Here are some tips to keep up with property maintenance requirements:

• Create a maintenance fund – In investment properties, wear and tear is higher therefore we recommend freshening up your property every 7 years in between tenancies. Having a maintenance fund will help prepare you for future renovations or those unexpected expensive repairs. This can minimise the financial stress.
• Maximise Trade visits – Take advantage of when a trade visits your property. For example, if you have a plumber attending for a leaking tap, ask them to check all other taps, flexi hoses, washers while onsite to reduce future call out fees.
• Increase market rents – Well-kept properties help you stay competitive in the rental market, as they are more likely to attract higher quality tenants and provide you with a higher rental return. Properties that aren’t maintained, tend to fall behind in achieving market rent and stay on the market for longer.
• Retain quality tenants – It is a fact that well-kept and presented properties rent faster and attract higher quality tenants. By actioning all maintenance requirements in a timely manner, you will keep tenants happy who treat the property with care and are more likely to renew their lease. In return, this offers you stability and lower vacancy.
• Compliance & safety – Property maintenance is not just about the appeal or the aesthetics. It is important to engage licensed and qualified trades to carry out preventative maintenance like annual garage door servicing, air conditioner servicing, and keeping smoke alarms compliant under legislation. This reduces your risk and potential liability, but also ensures appliances such as air conditioners, are running correctly to avoid replacement costs.
• Why engage a property manager? - Professional property managers provide detailed routine inspection reports and help identify wear and tear on your investment. We provide suggestions on when to update the painting, carpet & blinds for example. We are also qualified and up to date with changes to legislation, making sure you remain compliant and protected as an investor.

Maintenance is not just about repairing things when they require fixing – it’s about caring for your asset, increasing the sale value and market rental returns, while ensuring long-term performance and interest in your property.