Appliances wear over time. Parts fail or need replacing just from normal usage. And since rental properties see a lot more traffic than primary homes, your appliances can see a little more wear and tear than those in your home. With that said, be prepared to address repairs for your appliances. This includes your garbage disposal, washer and dryer, fridge, stove, dishwasher, microwave, etc. Make sure you have a trusted appliance vendor who can address repairs as they come. And if your appliances are just old and outdated, consider replacing them. Sometimes the cost to repair is higher than the cost to repair or the value of the current appliance. Just be sure to address these issues quickly and efficiently so as to prevent unhappy tenants and potential further damage.
#2: Water Leaks
Water leaks are an emergency repair that can cause a lot of damage to your rental if not addressed quickly. This is an area where preventative maintenance is crucial. Be sure to check your roof, pipes, and window seals to make sure there are no small leaks that can turn into a bigger problem. And if your tenant reports any kind of leak, whether major or not, address it quickly. Don’t let a small leak become a big problem by putting it off.
#3: Furnace Repairs
Adequate heating in a rental is a requirement, and when you run into furnace repairs, the dollars can quickly stack up. This is another area where preventative maintenance goes a long way. Keeping up on routine inspections, cleaning, and repairs is a great way to help ensure the life of your furnace and catch small problems before they grow to complete disasters. But if your system does fail and the heat goes out, fix it quickly. Make sure to have a few vendors you can turn to in the event your heat goes out. That way if an emergency arises at your rental, you have options if one vendor isn’t available. It’s better to be prepared for disaster than to cross your fingers and plan how to address it only when the problem arises.
#4: Hot Water Heater Repairs
Like heat, ensuring your rental property has access to a reasonable amount of hot water is another requirement. This means keeping up with the maintenance on your hot water heater. In the event it needs repair, having multiple vendor options is another great way to prepare. Hopefully, the issue is just with the heating element in your existing hot water tank, but if not, be prepared to replace the whole tank if necessary. Furnace and hot water heater replacements can cost a pretty penny. Having an emergency maintenance fund to help cover these costs can help relieve the burden of these high expenses and avoid accruing interest on your credit card. Like any other emergency repair, be sure to handle it quickly and efficiently to keep your tenants happy and your rental in good shape.
#5: HVAC Repairs
Nothing is worse than having AC problems in the heat of the summer. If your tenants report a problem with the AC, make sure to contact an HVAC professional. HVAC repairs are not a DIY repair and should be handled by a pro. Keep up on routine maintenance to ensure small problems don’t get out of hand.
No one wants to deal with pests, not you and not your tenants. But if creepy crawlies do make it into your rental property, be sure to address the problem before it has the chance to get out of control. If there’s an infestation, contact an exterminator to eliminate the pests. And be sure to inspect your rental regularly to make sure your tenants aren’t inviting pests in by not maintaining the rental in a clean in accordance with the lease.
Maintenance will always be a part of managing a rental property. Staying informed and being prepared to handle both routine and emergency repairs quickly and efficiently can help turn a bad situation into a positive outcome.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.