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Managing Maintenance Costs
If you are a landlord, you probably quake at the thought of a call from your property manager about maintenance matters. MANAGING MAINTENANCE COSTS
You might appreciate the following suggestions, which have come from property managers who are dealing with common issues raised by tenants. They also give insight into the day-to-day, often not-so-glamourous, things the property manager must deal with.
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THE DISHWASHER
Tenant says the dishwasher, or indeed any other appliance, isn’t working properly. What to do? Ask your property manager to call in the tradesperson and get quotes to fix the appliance. If it can’t be fixed, purchase a new one. It will be under warranty; you can claim it on tax, and it will depreciate.
TOILET CONSTANTLY RUNNING
This complaint most commonly occurs when the tank has parts that are plastic, or a similar low-cost product, and the noise of water flowing is irritating the tenant. Your property manager can assess whether a handyman or plumber is needed to sort the replacement parts.
OH NO! THE TOILET IS CLOGGED
This is a tricky one. In some instances, the tenant themselves may have been the cause – but not always. Either way, the property manager will be on to it right away and pass on any costs to the tenant if appropriate.
THE SLOW DRIP
If this is let go, costs can quickly escalate. If your property manager reports dripping taps in kitchens, bathroom, laundries or outside, act to get them fixed as soon as possible. Think of the water wastage too. Water drips are often the result of something as simple as a worn rubber washer, which a handyman can fix.
WATER UNDER THE SINK
Water is meant to be in the sink, not beneath it. This is a job for the plumber so leave it in the hands of your property manager.
WATER SEEN IN CEILINGS AND WALLS
This is a problem you really don’t want to hear about because water leaks can damage timbers and other building materials if not immediately addressed. Leaks can also lead to the growth of moulds, which is another serious problem. Be guided by your property manager and don’t look for the cheapest way out.
HOT WATER
A properly installed hot water system should last at least 10 years. If the one in your investment property stops working and it is past its use-by date, get a new one. Your property manager will call in the expert to give you the best advice. Choose well and you will have fewer recurring issues with the hot water system. Because property managers are dealing with tradespeople and handymen all the time, they will have worked out the best people to call in, generally giving you the best job at a competitive price. If you want to seek quotes yourself – usually around three – don’t be afraid to ask the property manager for their opinion on the best one in terms of quality and affordability. The property investor who acknowledges the fundamental role of their property managers and optimises their support is in the best position to minimise maintenance costs.
