Maintenance Management: Keeping a Property in Top Condition

Jose Ernesto Batres

Being a landlord holds the promise of consistently lucrative paydays, but it isn’t as easy as some tend to think.

It’s not exactly like passive income, often coming with many unexpected challenges. Sometimes, the only thing that can be expected is the need for hard work. 

Jose Ernesto Batres says that managing a property to keep it in peak condition requires exceptional accessibility and a strategic approach to maintaining a good relationship with tenants. The possible payoff for this is more than worth it. The property management market industry in the U.S. was worth $101.3 billion in 2021.

About 45% of all landlords manage their own properties, and vacancy rates are expected to drop to under 4% by 2025, according to iProperty Management.

Here’s how to tackle property management efficiently and responsibly. 

What Goes into Property Management

Today’s property managers must be a little bit of everything to every tenant. Keeping a property in good condition is what makes up a large portion of the work. This includes cleaning, landscaping, making repairs, controlling pests, garbage disposal, and testing safety measures.

Most property managers are guided by local or state laws concerning occupancy standards and property maintenance codes in order to hold on to their investments. Property managers must prioritize many tasks, taking on critical needs (emergency repairs, maintaining utilities) first before moving on to lower-priority jobs.

At any time, property managers may upgrade appliances, add more washers and dryers to individual units, or repair roofs. Maintaining a good work ethic — and especially good communication — is key. 

Find a System

More often than not, property managers aren’t always physically on the property they own. That’s why coming up with an easy-to-use system for tenants to ask questions or put in requests for maintenance is essential. This may be done via email or through a property’s website. Some property managers may choose to connect with tenants via text message or phone as well. 

Respond Promptly

Even if it isn’t their full-time job, property managers must commit to responding to tenants’ needs, wants, and requests in a prompt manner. The longer an issue lingers, the greater the chance it becomes an emergency or causes tenant unrest. 

Proactive Maintenance

Responding to tenant requests is reactive maintenance, but property managers should keep proactive maintenance in mind throughout the year as well in order to attract new tenants and upkeep the value of their property investment. Proactive maintenance may include installing faster Wi-Fi and working with contractors to upgrade fixtures. Cosmetic changes, such as installing new floors or adding a fresh coat of paint to buildings, are also proactive ways to improve a property’s appeal in the long run. 

Jose Ernesto Batres

Think About ValueProperties can become outdated rather quickly, whether they are single-family homes, apartments, or condominiums. Occasionally updating the overall atmosphere of a property is a good way to increase its value. Some property managers choose to include nice outdoor spaces, like patios and decks, or appealing features such as new landscaping, an area for grilling outdoors, or a dog park. Tap into TrendsThere is no secret formula property managers can follow to guarantee the security of their investments, but it helps to have a property that reflects current real estate trends or the desires of high-quality tenants. One example is making energy-efficient upgrades to windows, insulation, and more.This approach will attract tenants looking for an environmentally friendly property and help a property manager not just add value to their asset, but potentially make even more money through charging higher rent.

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