If you own a rental property, keeping your expenses down will go a long way toward making your investment profitable. Reducing the property maintenance and landscaping costs on your rental is one area of your budget you can control with careful planning.
5 Ways to Cut Property Maintenance Costs on Your Rentals
1. Find the Right Tenants
When it comes to choosing tenants, you want the most responsible ones you can find because they will take better care of your property while they live there. In the long run, this means less property maintenance and lower repair bills for you. Taking the time to do thorough background checks and carefully vetting references is well worth the effort.
2. Hire a Landscaping Service
Landscaping tends to cost less in the long run when you take care of your plants on a regular basis. Have a landscaper regularly trim the trees to keep them healthy and avoid falling branches, which can cause major damage. It’s also easier to keep your grass lush with healthy topsoil that hasn’t been damaged by skipping fall leaf cleanup, so schedule regular service to stay on top of these issues and avoid big charges later.
3. Test the Smoke Alarms
Ensuring all of the smoke alarms on your property work will keep everyone safe, of course, but it can also cut down on property maintenance costs as well. If there ever is a fire, recovering a property from smoke damage alone can be expensive, not to mention the increasing premiums you’ll pay for insurance.
4. Improve Efficiency
Small fixes that help your tenants use less energy will also cut your costs. Regularly replace the filters in the air conditioning units and heating systems to help them run more efficiently and avoid frequent repairs. You should also check for leaky pipes and install faucet aerators to control water use.
5. Consider Appliance Warranties & Insurance
Manufacturers offer extended warranties, and these can be helpful in keeping repair costs down, especially for heavily used kitchen appliances. You might also find a local repair shop that offers their own insurance policies and maintenance plans that help keep your costs lower.
Team Hale LLC of Anchorage, AK, has the experience you need make your landscaping look great for less, and they’ll help you come up wit the right property maintenance plan for your rentals. To find out more, give them a call in Anchorage at (907) 344-3346, or visit their website for additional details on their services.