The Importance of Quick Maintenance Repairs

Property investing, for the most part, is an enjoyable endeavor for the new investor

. It opens up a door to a whole new world of learning, experiences and lucrative returns on the investment.

When the property investment involves the investment into rental property, such as rental units, it comes with a big responsibility no matter what the size of the investment. Whether it is a single or multi family unit, as the property owner you will have many demands placed on you, and one of the most important to be addressed is quick maintenance repairs and there are several reasons for this.

To begin, you want to achieve and maintain your credibility of being a fair and reputable landlord. There are far too many individuals that jump in and buy rental properties as an investment with no intention of taking on the responsibilities that go with it, and don't realize the harm they are causing themselves.

The property you have invested in will only serve to bring you a great return on your investment as time evolves. That is of course is if you have looked after it. If you fall into the trap of not attending to quick maintenance repairs then what may start out as insignificant repair can soon turn into a major and far more costly endeavor. For example, let's assume the roof of one of your apartment buildings is old and needs replacing. You perceive it as something that can wait as there is only minor leakage at the present time. Within a few months you could easily end up with a rotting interior. Then you not only have the roof to replace but the repairs of interior structural damage. All of a sudden the cost of that new roof doesn't seem so bad anymore.

If you make it a point to look after small maintenance repairs quickly you are going to have far less headaches in the future. Remember, you made a financial investment in this property and a good investor protects their assets.

Failure to take care of repairs in a timely manner may cause you to develop the reputation of being a poor landlord. Word spreads quickly and you will soon find that not only is it more difficult to rent your units, but the caliber of renters will wane as well. Ultimately, this will mean less tenants with the means to afford the rent you were expecting to collect off your investment.

So as you can see allowing repairs to slip and become unattended to can cost you a great deal in many ways.

Whoever is responsible for overseeing your units must ensure that you are made aware of the necessary repairs. If you are a busy investor you will not have the time most likely to being doing your own property inspections. Also, tenants will report potential problems to your property management team. You should, on occasion, do your own inspections. Sooner better than later as well, because you don't want to end up with whopping repairs because your property management neglected to keep you informed.

The Importance of Quick Maintenance Repairs

By: Dave Lindahl

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