Property maintenance is a critical aspect of homeownership, as it helps ensure that your property is in good condition and retains its value. This informative article will look at everything you need to know about property maintenance, from why it is important to how to get started.
What All Are Included In Property Maintenance?
Property maintenance is all the preventive or reactive maintenance actions taken to retain a property in a fully functional and operational condition.
Property maintenance essentially includes a wide range of requests and responsibilities. A few of the duties will indeed include maintaining the landscape, responding to maintenance requests from the tenants, repairing and servicing the HVAC systems, pest control, painting the common areas, cleaning the common areas, etc.
The safety inspections of the property are also counted as a crucial component of property management. Also, replacing malfunctioning equipment like alarm systems or doing away with unsafe conditions can prove a significant liability.
If one fails to perform property maintenance, this can have severe consequences. There are several advantages of implementing regular property maintenance.
Below is the list of the advantages of property maintenance for your consideration.
Benefits Of Property Maintenance
The major benefits of property maintenance are:
A Considerable Reduction In Equipment Failure And Breakdown – When you conduct preventive maintenance of a property, your buildings experience fewer instances of failure. When you check the significant property assets like elevators, HVACs, and boilers at periodic intervals, this rightly ensures that all the costly equipment in the property is operating optimally.
Avoidance Of Any Nature Of Liabilities – In case property maintenance is performed at periodic intervals, this will surely bring down the number of onsite potential incidents or accidents. This will help you to be free of lawsuits or liability.
Increased Property Value – A well-maintained property always retains its market value. A property suffering from negligence in maintenance will inevitably have a decreased value, and its rental prices will also decrease considerably over time.
Happy Tenants – If your tenants are always satisfied, they are more likely to continue renting from you. They will also remain inclined to recommend your property to other tenants even if they are leaving.
Disadvantages Of Property Maintenance
The disadvantages of property maintenance are few and are worth nothing when you compare the same with the long list of its advantages. The notable disadvantages are:
Costly Expenses – If your business depends on the rent payments to stay afloat every month, property maintenance may sometimes be very pricey. If you hire a full-time professional to maintain the property, it becomes even costlier.
Reduced Control Over Your Property – If you hand over the reins to some property maintenance professional, you will indeed have reduced control over your property.
Job Roles That Are Available In Property Maintenance
Property maintenance is typically performed by a combination of 4 significant professionals – a property manager, a janitor, a maintenance technician, and one facility manager. Even though any of these professionals can perform property maintenance, every field has distinct responsibilities, roles, and salaries. They required different kinds of training & the certification processes also differ from each other.
Here are the job roles:
Property Manager – A property manager can be hired full-time or part-time to inspect, overseeing & maintaining the assets of a property, its utilities, the tenants who stay in the property, etc. The property manager ensures that the property is always maintained in optimal condition.
Maintenance Technician – An appointed maintenance technician is responsible for repairing any mechanical systems within a property. They can work in conjunction with the property manager.
Custodian/janitor – A janitor or custodian is hired, usually on a part-time basis, to clean & maintain the hygienic standards of a particular residential property. The concerned is responsible for tidying, cleaning & disinfecting the shared domains of property premises.
Conclusion
After all, regular property maintenance is crucial to keep your home in top condition, protect your investment, and maintain your property's value. Following these aforementioned tips and guidelines, you can keep your property in top shape for years to come.
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