5 Ways to Save Money on Repair and Maintenance in Between Tenancies
Save Money on Repair and Maintenance in Between Tenancies
Most landlords don’t do much during the vacancy period. The property sits idle, and the cash flow stops – such a drag! Still, you need to understand that these downtimes come with a silver lining – how? They give you enough time to perform any repair or maintenance work and get your property looking like new before the next tenant arrives. Here are five budget-friendly ways to help you with handling vacancies like a boss!
1. Utilize Your Notice Period
Start planning your repair and maintenance schedule as soon as a confirmed end date is in place for the tenancy agreement. Remember, the idea here is to get all the work done in the shortest possible time so that the next tenant settles in comfortably. Follow this checklist: ✓ Get your property inspected. ✓ Look at what repairs you can do yourself and what you could be outsourcing. ✓ Synchronize your schedule with different contractors so that you can keep an eye on their work. ✓ Get quotes and make bookings. If you are vigilant enough, you should get everything ready on the move-out day. Once you take care of the repairs and maintenance, you can focus on finding a tenant for your property.
2. DIY, Your Way Through it!
DIY can help you cut back on significant outsourcing expenses. Keeping within the time and skills you have – DIY as much as you can. Thanks to the internet, you can acquire the necessary skills in no time. Plus, remember the rule of working with this tip – don’t go near plumbing, electrical, or gas work unless you are qualified to do so. Experience (and qualifications) is crucial for this tip as safety and professional finishing must never be compromised.
3. Don’t be a Jerk!
If you want things done on time, pay people on time and don’t be a jerk – period. You need to establish yourself as a long-term customer. You also need to build a working relationship with tradespeople if you want them to answer your calls. To become their go-to client – provide them immediate access to the property, stop lurking around while they are working, and give them constructive feedback without acting like Mr. know it all!
4. Keep the Spare Parts
Do you know how spare parts come with different appliances? Well, NEVER throw them away and don’t leave them with your tenants. Keep them labelled in a place where they are easy to access. Some appliances need maintenance in between tenancies. Similarly, as a landlord, you need to think ahead and purchase new parts, especially if they are vital to the workings of the appliances. For example, consider stocking spare home ventilation system filters.
5. Replacement is the Last Resort!
There are times when the property is in such a poor state that you think only a flamethrower can help in its redemption! Before you start ripping things apart, take a closer look to see if minor renovation can do the job for you. For instance, kitchen cabinetry can be made new by a coat of the traditional gloss. With that said, if it comes down to the last resort, invest in quality fittings that could go the distance.
Lastly, consider the following bonus tips that might make repair and maintenance work easy! · Use tiles as they offer longevity and mould resistance. Paint often does the trick and makes your property look new! · Use everyday items to clean as they do the job and don’t drain your pocket. · Follow the fix first and clean the last rule! If you want to make things work, be professional and realistic about your home improvement. Accepting the changes that tenant has made to your property is at times a part of being a landlord, and you can’t spend all your time undoing what has been done. Keep in mind that the goal is to bring your property to a state where it can be listed among other houses for rent. Be strategic and don’t run around fixing everything on your own without experience.
Still, Looking For Answers?
Well, if you feel overwhelmed at how much is going on as there might be multiple people and projects to manage. You need to ask for the help of airpropty – we provide lowest fee property management services in Auckland, as well as property renovations and repairs management. Moreover, landlords often get overcharged and overworked while working on the repairs and maintenance of their property. To help with that, airpropty offers assistance in construction, bathroom renovations, and kitchen design so that you can share your workload. From managing the renovations between tenancies, finding tenants and securing a new residential tenancy agreement, to the traditional property management services – we’ve got you sorted!