Investing in real estate properties can be the start of an exciting new venture. However, it can also lead to a barrage of questions, such as: How do I collect rent? Find tenants? Manage property maintenance?
Even though it can seem scary to get started managing a rental property, there are resources and services available. Software like RentRedi can help you get started managing and streamlining the way you manage your real estate business.
This article will give you a brief overview of how property management tech can help you manage your maintenance.
What is Property Maintenance?
Property maintenance is the upkeep, fixing, and maintaining the appearance, safety, and overall condition of any rental property.
Property maintenance can be preventative or retroactive in nature and can have a wide range of functionality.
What is Considered Maintenance on a Rental Property?
As mentioned above, maintenance on a rental property can involve the appearance, safety, or condition of the property. For example, you might proactively install railings on the stairs of a duplex. This prevents safety issues of a tenant falling off the sides. However, an example of a retroactive fix might be a faucet that leaks. Then, it needs to be replaced to maintain the functionality of essential water fixtures in an apartment.
What does Property Maintenance Include?
Property maintenance can include a variety of repair items. You can include these items on a rental inspection checklist. Some areas to check are changing smoke batteries, furnace filters, and the condition of the rooms.
On the operational side of things, property maintenance can mean tenant call handling, troubleshooting, coordinating with maintenance personnel, and following up on repairs.
How to Handle Maintenance Requests?
When it comes to handling maintenance, ensure you have a system set up before you get renters into your unit. If tenants start calling and you don’t know how to handle the process, then repairs won’t be handled efficiently.
Setting up a work order system, such as RentRedi’s maintenance requests, can save you a lot of time and energy. Tenants can submit a 5-second video of the issue they’re seeing and send it directly to your RentRedi account. Then, you can easily view and understand the repair problem.
This system is built directly into RentRedi’s app. You can manage all work orders internally and add your maintenance team for free.
Rental Property: How Much to Save for Maintenance?
How much money you save for your rental property maintenance will depend on the approach you take for your rental reserves. Rental reserves are essentially the “savings account” for your rental properties.
- Percentage: 15-30% of gross rent
- Fixed: 3-6 months of rent
- Itemization: Total an itemized list of all major appliances & repairs
How to Get 24/7 Emergency Property Maintenance
As you’re getting into real estate investing and managing rental properties, you’re probably trying to determine how you’ll manage the maintenance side of things. Will you be more hands-on, planning to manage it all yourself?
However, you might be looking for something like 24/7 emergency property maintenance. You’ll probably want to research repair services that can handle this aspect of maintenance for you.
To handle this, look at services like RentRedi. We offer add-on services such as 24/7 premium maintenance to handle calls from tenants. Additionally, our premium maintenance partner, Latchel, will troubleshoot and dispatch contractors. Once the issue has been fix, they will follow up on completion.
To learn more about our Premium 24/7 Property Maintenance Services, click here!