3 Tips to Help With the Optimal Maintenance of Property
According to one survey, the average estimated cost of home maintenance in the U.S. reached $2,467 in 2022. That’s on top of the average $1,953 spent on unexpected repairs, bringing the total to $4,420. Another poll even had a higher estimate; a staggering $6,000 on repairs and maintenance!
Maintenance of property, however, can help minimize repair costs. That’s why it pays to know how to keep your properties in top condition.
Fortunately, you’ve come to the right place. Below, we’ve shared the top property management tips you can follow today, so keep reading.
Create a Checklist
As impressive as the human brain is, it can still forget over half of the new information it learns within an hour. After 24 hours, it loses as much as 66%.
That may help explain why people forget to do crucial tasks unless they have a visual aid. For the same reason, highly productive, organized individuals usually rely on checklists. These to-do lists help them counter forgetfulness by reminding them of what they must do.
So, take a page out of their books by creating a checklist for maintaining and managing property.
In your list, create a column for each of your property’s most integral components and systems. These include the exteriors, interiors, foundation, plumbing, electrical, roofing, and HVAC systems.
Then, list all crucial cleaning and maintenance tasks in each column. Don’t forget to note frequency (e.g., daily, weekly, monthly, or yearly).
For example, you can list cleaning under interiors and separate the chores by room. Daily tasks should include sweeping, while mopping and vacuuming should be under weekly. As for your HVAC system, you can put air filter replacement as a monthly job.
Set Up Reminders for Routine Maintenance
Effectively maintaining properties requires professionals like plumbing, electrical, roofing, and HVAC contractors.
The good news is that you only need to hire them once or twice a year for preventative maintenance. These services help minimize system failure as long as experts perform them regularly.
To ensure you don’t forget, create reminders on your phone to set up service appointments.
Schedule professional plumbing, electrical, and roofing maintenance at least once a year. For your HVAC system, schedule one for the heater during fall and one for the AC in spring.
Save Up for Repairs and Maintenance
One of the wisest property maintenance practices to abide by is to save up for these tasks. This way, you can worry less about not being able to afford home maintenance or a roof repair emergency.
Using the estimates above, saving $12 to $16.50 a day for a year can cover a $4,420 to $6,000 expense. And even if you don’t end up using all of your repair/maintenance funds, you can set them aside for next year. Alternatively, you can use them for other crucial expenses, such as medical emergencies.
Use These Tips for Optimal Maintenance of Property
Maintenance of property helps ensure your assets live longer instead of degrading earlier. It also prevents depreciation, especially if we’re talking about real estate. To top it off, it can lower the odds of unexpected repairs that cost hundreds, even thousands of dollars.
So, as early as today, follow our property maintenance tips. The sooner you do, the sooner you can retain or boost your assets’ values.
If you liked this guide, you’d love our other informative posts. So, check out the rest of our blog for more educational reads like this!