Once you purchase your very first investment property, you may think that your challenges end when you complete the purchase. However, as an investment property, you will have to perform several tasks that include responding to emergency maintenance issues from tenants.
No matter how proactive you are in terms of Glendale, CA property management and maintenance, there would still be issues that your tenants may have to deal with that requires your help. Keep in mind that keeping your tenant safe at all times helps ensures occupancy and makes your properties attractive to future renters. If a tenant calls you for an emergency maintenance request, here’s what you should do:
Come up with a Solid Plan for Addressing Maintenance Requests
As a landlord, you need to decide how your tenants can submit requests and who will respond to them. If you choose to hire a property manager to address these requests, you will just have to monitor the manager to ensure they are handling all requests efficiently and promptly. By hiring a professional property manager, you save yourself from the frustration and inconvenience of unexpected maintenance requests. If you have not hired a manager, you should get the requests based on the method you prefer which can be by phone, written notice, text, or email. Emergency requests must be addressed no matter what time of the day they are made.
Set a Budget
To ensure you can address any emergency maintenance requests effectively, you need to have a budget set for unexpected repairs and maintenance issues. You should have some funds available when the water heater or fridge goes out. Generally, you may need to spend at least 1% of the value of your property on maintenance every year.
Be Aware of Applicable Law
Did you know that you have legal obligations to maintain your rental properties? These include conducting necessary repairs. The majority of states have stipulations regarding how soon you should respond to issues and guidelines for keeping your rental property structural safe and habitable. Often, you have the responsibility to maintain clean running water, adequate weatherproofing, heating, electricity, sanitary conditions, and keeping your property pest-free.
Create a Preventative Maintenance Plan
To minimize emergency maintenance requests, make sure to stay on top of regular maintenance. Get your investment property serviced professionally twice every year. Make sure to have a list of what must be done in the spring and fall.