Are You Getting the Most Out of Your Property Maintenance?
Only homeowners can truly understand the vitality of maintaining and caring for their property, regardless of whether they are looking to sell or rent them in the foreseeable future. Needless to say, the practices of property maintenance in Orange County CA and other locations of high-end property have seen an upsurge in the recent times.
Simple reasons why every homeowner needs property maintenance
- Fixing trivial issues to prevent big ones: Regular rental property repairs and maintenance can help avert major issues that can considerably reduce a property’s value.
- Keeping hold of the best renters: When a renter occupies a property, the owner’s anticipation is that the renter would take care of the property as if it was his own property. However, making sure the property is damage proof in all ways not only ensures consistent rent and tenants, it also builds goodwill and good relations.
- Growing the value of the property: Effective property maintenance in Orange County CA has seen property values soar up considerably since well-maintained properties are more preferred over properties needful of repair.
Common mistakes everyone makes about property maintenance
When you are seriously considering property maintenance, it orders to make the most out of it, you must steer clear of the following mistakes:
- Thinking it’s an unnecessary expense: Maintenance expenses never get any cheaper. The price of labor and materials required to conduct property maintenance are bound to increase every year. Hence dilly-dallying on the regular upkeep of properties can only lead to a highly expensive damage which can cost you a lot more than the average spend.
- Not regularly visiting the property: Visiting the property no less than once a year to check on how it is being kept by the tenant or the agent is crucial, as recognizing damage to a property can only be done to the tee by the owner of the property.
- Not knowing the amount to spend: Homeowners looking to indulge seriously in property maintenance must consult a property manager to ensure that they spend just the right amount in maintaining their properties. Often owners tend to go for over or under spending, neither of which is advisable.
Normal spending on property maintenance in Orange County CA
One prevalent practice says that rental property repairs and maintenance should take up 1% of the acquisition price of the home. For instance, if the home costs $700,000, a budget of $7,000 per year for upkeep should be kept aside. That does not imply literally spending $7,000 every year, it just means that, on an average, over a considerable number of years (over 10 years), the average spend should be 1% of the cost multiplied by the number of years of ownership. It is difficult to forecast how much a property will cost to maintain. The best way to save money is to hone in these factors about the property when setting out the plan:
- Type of Property (Single/Family/Commercial)
- Location of the Property
- Weather conditions
- Age of the Property
- The condition the property is in
How a property manager can help you out?
The hiring of a property manager for your property maintenance in Orange County CA may seem like an added expense but it can be quite beneficial. A property manager can help homeowners to:
- Set appropriate rental rates.
- Timely collect and deposit once-a-month rent payments.
- Market the property in the most appropriate manner.
- Make best use of time and money.
- Guarantee that all housing regulations & property regulations are abided by.
- Handle vendor relations.
- Handle relationship with possible tenants, choosing them wisely.
Property management necessitates a huge amount of commitment, time, and effort. For years, Goodman Management Team has conducted property maintenance in Orange County CA employing the most advanced techniques of aiding their customers. Offering customers with all-encompassing services ranging from lease documentation to control of rental income, the underlying essence of the team’s service is dedication and honesty.