In the US, there are around 20 million rental properties, and you may be one of the lucky ones who own a property or two.
Many people mistakenly believe that being a landlord is easy. But costly mistakes can happen, which can also bring headaches into your life. In those cases, it may not feel like it's worth getting this source of passive income.
However, if you know the rental property maintenance mistakes others have made, you can avoid them. As a result, you'll have a smoother time as a landlord.
Below are 4 common mistakes to watch out for.
1. Not Having Regular Inspections
In the worst-case scenario, wreckless tenants can ruin your property quickly. And you might not know it until it's too late, when it'll take lots of time and money to fix up the units again.
Even if you have responsible tenants, it's still important to keep up with regular inspections. That way, you can find normal wear and tear, then patch things up immediately before things get worse.
2. Delaying Maintenance and Rental Property Repairs
As part of your property maintenance routine, not only should you have regular inspections, but you should also take action. What might seem like a small issue (such as a leaking faucet) can grow into larger and costlier ones.
Plus, if you don't take prompt action, this can leave a bad impression on your tenants. In San Diego County (and in general, California), you're required by law to provide proper gas, electricity, and plumbing. So if you don't keep up with maintenance, tenants can take legal action.
3. Trying to DIY Fixes
There are countless DIY videos on YouTube, so landlords feel confident about performing repairs on their own. However, this often ends in a disaster; not only do you waste time, but also money.
Your time's better spent on other things, so don't try things on your own, unless they're simple fixes. Instead, have a trustworthy and licensed contractor in your contacts. That way, you have someone to call immediately if things go wrong.
4. Not Delegating Property Management
Being a landlord means passive income, so you shouldn't have to work to the bone to get that money. Property maintenance can be time-consuming and can take a lot of your energy to coordinate things.
A better idea is to have a property management company handle the details for you. Your rental property will have regular inspections, as well as quick and expert repairs. And best of all is, you won't have to get involved.
Don't Make These Rental Property Maintenance Mistakes
Rental property maintenance mistakes are easy to make, especially if you're trying to cut corners. But if you work with a good property management company, you can trust that everything will be taken care of with top workmanship. All you have to do is sit back and see the money roll in.
For reliable rental property maintenance service, get in touch with us.