Investing on property requires more work than simply collecting the rental payments and get the benefits. But it requires all the expenses that are compulsory beyond a mortgage payment. There are lots of expenses and one of the mains is the maintenance costs. Superb maintenance can keep your property in a good condition and tenants become happy also. House Maintenance for rental properties may be the tedious task and it varies month by month like a landlord may spend $400 in one month while $0 in another month. But a smart investor creates an estimated budget in order to cover unexpected bills. Let’s have a look at the types of maintenance associated with rental property:
- Routine Maintenance:
Routine maintenance includes regular exterior and interior cleaning, landscaping, recycling collection and involves some fixing that does not cost you much at each month.
- Seasonal Maintenance:
Seasonal maintenance includes tree pruning in the winter, snow removal or gutter cleaning in the fall, all these activities depend on the location and type of property you own.
- Appliance Maintenance:
This type of maintenance includes the home fixtures such as clean out the dryer and change air filters. This type of costs associated with keeping them running smoothly.
- Emergency maintenance:
Sometimes, there is an emergency maintenance such as air conditioner broke in the middle of summer, a pipe burst in the middle of the night and much more. So, these emergencies can come at any time and you need to protect, so, you need to make a plan for the unexpected.
Sometimes, you need to do some replacements such as roofs, appliances, flooring and paint, so that you can add the value of your house. New flooring and new paint just add the value and increase the rental cost also. So, it is necessary thing to maintain the property.