Managing a rental property can be a challenging and complex task that requires a wide range of skills and expertise. These include tenant acquisition, rent collections, and the scope of property maintenance such as safety checks, cleaning, rodent control, and asset repair.
Property maintenance is often confused with property management but they are very different at the core. A clever owner would leverage both property management and property maintenance to ensure the rental property is always at a good value and increase the demand for the rental service.
So, without further ado, let’s dive in and learn more about property maintenance!
What is property maintenance?
Property maintenance is the process of keeping a property in good condition. This includes repairing, cleaning, servicing, maintaining assets, and other routine care to ensure the value is preserved while the property remains safe and functional. When done regularly, property maintenance is beneficial to both the property and the owner. Not only does it improve property safety and increase aesthetic appeal, but it also helps reduce repair costs in the long run and increase property value.
Property maintenance company is often hired to take care of the property, so property owners can just sit back and relax. Some companies also offer packaged services for both property maintenance and management, allowing the property owner to pass the full scope of tasks to the service provider.
Benefits of property maintenance
Increase the value of the property
A well-maintained property is more attractive to potential buyers and renters, hence increasing the value of the property.
Reduce repair costs in the long run
Besides, regular property maintenance will reduce repair costs in the long run. Regular maintenance can help catching small issues and prevent these minor issues from turning into major problems that will be more costly to repair. By doing regular maintenance and checking, property owners are more likely to save money in the long run.
Improve the safety of the property
One of the issues that are often overlooked is the safety of the property. With so many wear and tear assets present in the property such as wiring, fans, water heater, and more, it is an increased hazard concern over time. Regular maintenance can help identify these hazards and address the issue immediately to prevent any accidents from occurring.
Improving the comfortability
Regular maintenance creates a positive environment for the people staying in the property. Not only does it increase aesthetic appeal, but it also provides a comfortable and good condition for tenants. This improves tenants’ satisfaction and leads to longer-term tenancy and higher retention.
Types of property maintenance
There are different types of property maintenance that cater to the needs of different properties. Understanding the types of property maintenance available is crucial for the long-term success of a property.
Regular maintenance
This involves the process of regular and routine inspection and maintenance to prevent any issues from occurring. This includes the inspection of equipment and assets such as checking and changing air filters and cleaning the gutter to avoid unnecessary downtime.
Corrective maintenance
Corrective maintenance is a type of maintenance that involves addressing issues that have already occurred. It is a type of reactive maintenance and generally involves basic repair on non-emergency equipment such as broken appliances or leaky faucets. While the repairs are generally low-priority and do not put the users in excessive inconvenience, they should still be attended to within a reasonable timeline.
Emergency maintenance
This maintenance involves addressing urgent matters that need to be fixed immediately as they pose some serious safety hazard or will cause further damage if left unattended. This includes major issues such as burst pipes, gas leaks, or electrical faults. Specialists and professionals are generally required to address the issues of this scale.
What is the difference between property maintenance and property management?
Property maintenance and property management are two important aspects of owning and maintaining a property. While the terms are often confused and used interchangeably, they are actually totally different at the core and refer to different responsibilities and tasks.
Property maintenance, as discussed above, is the process of upkeep and repair of a property to preserve the condition of the property. This includes cleaning, repairing, painting, and landscaping. They are crucial for the safety, comfort, and visuals of the property while also ensuring the value of the property remains competitive and attractive. This is usually overseen by the property maintenance contractor or company.
On the other hand, property management involves the daily operation of property such as leasing, tenant acquisition, rental collection, and tenant relations. Usually, property owners will hire a professional property management company to oversee the tasks. They are tasked to put up leasing notices, screen for potential tenants that fulfill the owner’s requirements, ensure all the rental paperwork is documented properly, collect rent, and more. Some property managers will also hire and coordinate with property maintenance contractors to perform the necessary maintenance and repairs on the property as well.
Examples of property maintenance
While the property maintenance tasks are broad and may scale from simple tasks to difficult fix that requires specialists, some of the tasks are still pretty straightforward and are done regularly.
Some of the common tasks for property maintenance are:
- Checking for water leaks
- Checking for electrical faults
- Cleaning and inspecting gutters
- General repairs on non-emergency equipment
- Pest control
In conclusion, property maintenance is an essential part of owning and maintaining a rental property. Besides having high-quality property maintenance, a wise property owner will also leverage on the property management aspect to ensure a smooth operation of the property renting process to save time and cost.
At Airhost, we pride ourselves on our property management service with a simple philosophy – ‘We manage. You earn.’ We will oversee the whole property management from makeover to renting the property, packaged with additional property maintenance service to ensure all our guests and property owners’ satisfaction. Learn more on our property management page or contact us today!