Property maintenance is important for both property managers and owners. It protects their investment, boosts property value, and guarantees a safe environment for their tenants.
This article will explain the benefits of maintaining your properties, the types of property maintenance, and a solution that can help you save more.
What is Property Maintenance?
Property maintenance covers routine tasks like cleaning, repairs, and inspections to keep things on your properties in good shape.
Typical property management includes simple tasks like clearing gutters, leak inspection, or complex work like HVAC maintenance.
Having your properties maintained on a regular basis can help prevent property damage in the long run.
Benefits of Having Your Properties Maintained
Preserve Property Value
Routine upkeep is important in keeping properties in their best condition because it helps enhance their attractiveness to potential buyers or tenants.
By checking that the property remains in good shape, owners can boost its market appeal and increase its monetary value.
Conducting a property check not only makes the property more desirable in the competitive real estate market but also maximizes the property owner's return on investment.
Prevents Costly Repairs
Addressing minor maintenance issues right away can prevent them from turning into major ones, which can cause more severe problems that are much more expensive to repair.
Making sure that your properties are maintained helps in avoiding wallet-draining repairs and replacements in the future.
Regular maintenance checks and repairs are an investment in the property's longevity and can save you a good amount of money over time.
Increases Energy Efficiency
Looking for leaks and repairing them not only prevents excessive water waste but also contributes to the property's overall energy efficiency.
Maintaining fixtures such as toilets, faucets, and household appliances in good working order ensures they operate efficiently, optimizes water usage, and contributes to environmental conservation.
Having your properties checked can help reduce utility bills and promote sustainable living practices.
Improves Tenant Satisfaction
Maintaining properties well contributes to tenant satisfaction, which is also a factor in minimizing turnover and maintaining steady rental income. When tenants see that the property is well-cared for and maintenance issues are addressed right away, their satisfaction levels rise.
This leads to longer tenancies, fewer vacancies, and a more stable and predictable rental income stream for property owners.
Ensures Safety and Compliance
Regular inspections and maintenance also make sure that the property remains a safe living space for tenants or residents. By keeping up with necessary repairs and following safety standards, property owners can prevent accidents and injuries.
Additionally, when compliance with local building codes and regulations is maintained, legal issues and penalties can be avoided.
Common Types of Property Maintenance
Routine Maintenance
Routine maintenance includes regular tasks and minor repairs to keep the property in good condition daily and maintain an appealing and functional space.
These tasks may look minor but are important for preserving the property's overall condition and preventing more issues from arising.
Examples:
Regular lawn mowing and landscaping
Frequent cleaning of common areas
Changing parts of HVAC units regularly
Preventive Maintenance
Preventive maintenance aims to prevent breakdowns and extend the life of property components. Addressing potential problems before they occur can save property owners from costly repairs or replacements down the line.
Examples:
Annual roof inspections and repairs
Scheduled pest control treatments
Regularly testing and servicing fire safety equipment
Corrective Maintenance
Corrective maintenance targets issues after they occur and fixes or replaces broken or malfunctioning elements to restore functionality and reduce further damage or disruptions.
It is important to check that property systems and components are operating correctly and efficiently.
Examples:
Repairing a broken window
Fixing leaking pipes
Restoring malfunctioning electrical outlets
Cosmetic Maintenance
Cosmetic maintenance involves updates and improvements that enhance the property's appearance, such as painting and decorating.
These improvements boost curb appeal and potential resale value and can significantly impact a property's marketability and attract potential buyers or tenants.
Examples:
Repainting walls for a fresh look
Updating lighting fixtures
Replacing old carpeting or flooring
Emergency Maintenance
Emergency maintenance is urgent and addresses immediate issues to prevent damage or harm and ensure the safety of occupants.
A prompt response to these situations is important to avoid further deterioration or hazardous conditions that could endanger people or the property itself, and it can also help reduce maintenance costs.
Examples:
Addressing burst water pipes.
Repairing damage from natural disasters.
Resolving power outages.
When to Engage Professional Property Maintenance Services?
Deciding when to engage professional property maintenance services is important for the longevity and compliance of your residential property. It’s time to seek out these services when:
Routine property maintenance tasks become overwhelming or are neglected.
Specialized maintenance technicians are required for building maintenance or reactive maintenance tasks that go beyond basic repairs.
Compliance with the international property maintenance code is in question, involving the expertise of a property maintenance professional with the appropriate property maintenance certifications.
A trusted property management company or property maintenance team will ensure that your property remains in good condition and meets all regulatory standards.
Submetering: One Solution for Property Maintenance
In 2023, a property owner on Sylmar Avenue, Van Nuys decided to install a submetering system for all 14 units and 39 tenants.
Before submeters, daily water use ranged from 1,650 to over 4,000 gallons in 2022. After installation in 2023, that dropped significantly to a consistent 1,165 to 1,601 gallons daily.
The average daily savings? It's about 1,625 gallons of water conserved.
Annually, the property saved nearly 593,000 gallons of water and slashed water costs by 55% - that's $10,860 back in their pockets. Property-wide usage per unit also plummeted from 225 gallons pre-submetering to just 100 gallons after.
This DrizzleX case study showcases submetering's impact. With precise usage tracking and fair billing, both property owners and their tenants are motivated to reduce consumption. It's a win-win for a property manager or owner who wants to have sustainable operations.
How DrizzleX Can Help You
DrizzleX allows you to detect hidden leaks, such as running toilets and leaky faucets, to stop millions of gallons of waste each year. It also alerts you to excessive water overuse by tenants. Typically, buildings that use DrizzleX reduce their water bills by 25-45% or more.
And you can expect a pretty quick return on investment (ROI). Buildings with DrizzleX save enough water to cover the entire cost of DrizzleX within about 9 months on average.
Usage Reports
One of DrizzleX's solutions is the "Tenant's Overuse" report. Since many people aren't really aware of their excessive water usage, an accurate report can be very helpful in preventing unnecessary expenses. Using the reports, you can communicate with your tenants about their water consumption habits and back them up with precise data.
Leak Detection
Leaks can be sneaky because they aren't always visible. With property inspection, you can see the obvious ones. But silent leaks will only show up on your utility bills. DrizzleX gives you water control because you can monitor the water flow in your building.
The system will notify you about where and how much water is being lost.
E-mail Notifications
Once DrizzleX spots the leak, it will notify you via email. The message you receive will include all the details about the exact apartment and fixture that is the culprit, how many gallons were used, how much it will cost you if the problem isn't fixed, and even possible causes for the water waste and how to fix it.
Billing
DrizzleX also allows you to bill your tenants. Tenants conserve water when they are the ones paying for it. You can easily create water bills based on accurate water consumption and bill them fairly.
FAQs About Property Maintenance
Does submetering help with property maintenance?
Yes, submetering helps in property maintenance by promoting responsible utility usage among tenants, leading to lower operational costs and fewer repairs related to overuse.
What does a Maintenance Technician do in property maintenance?
Maintenance technicians from property maintenance companies perform necessary repairs and preventive maintenance to check the property's operational status and building systems aLearn the importance of property maintenance for safeguarding investments, enhancing property value, and ensuring tenant satisfaction. Discover various types of maintenance and explore solutions like submetering to save on costs and water usagend equipment.
How often should routine property maintenance be conducted?
Routine property maintenance should be conducted regularly, at least quarterly, so you can check that all systems are functioning correctly.
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