Your Home WILL Need Maintenance!!

Your Home WILL Need Maintenance!!

I’ve written several blogs in the past about the need for new landlords to budget for maintenance. I’m writing another, as I feel this is THE MOST IMPORTANT action that a landlord must take when transitioning their home into a rental property.

We have found that many new landlords have set aside funds to make mortgage payments during vacancy periods or if tenants are late with paying rent, but have not budgeted for required maintenance items that could occur at any time.

Regardless of the age of the appliances or the age of your rental property, maintenance problems happen! At any time, a faucet or angle stop can begin leaking, a toilet can run continuously, a main drain can back up due to tree roots, a AC condensation line can back up, an AC system can stop cooling, a roof can start leaking, a piece of siding or a shutter can blow off the house, a small decorative tree could begin leaning and trigger an HOA violation, deck boards could warp, split or splinter, a fence could begin leaning, a refrigerator could start leaking or stop cooling, a gas cooktop igniter could stop working, a microwave could start sparking, a basement could flood due to grading issues or sump pump failures, a hot water heater could leak or stop functioning, a dryer vent may have a lint back up, a sensor on a front light could go bad, a bird could get into a vent or a squirrel could get into an attic. These are just SOME of the maintenance issues that have occurred in our managed properties WITHIN THE LAST MONTH!


While some maintenance issues may end up being charged to a tenant (like a toilet clog or disposal jam due to a foreign object) most maintenance issues are landlord responsibility and must be addressed promptly. Landlords should plan for such unexpected maintenance needs and budget so that they can make monthly mortgage payments on their rental property each month without negatively impacting their own personal financial needs.


In addition to unexpected maintenance issues, landlords should also plan for routine or preventative maintenance tasks to maintain the value of their investment. Landlords should be ready to paint exterior wood trim to avoid wood rot, power wash decks and siding when algae builds up, stain or seal decks, service or clean HVAC systems to maximize performance and extend their life expectancy, trim trees that grow close to the house, seal driveways, replenish mulch, paint after long term tenants, and replace carpet that is worn.


Professional investors know that calculating monthly cash flow consists of much more than subtracting the mortgage, HOA, and property management fees from the monthly rent. I strongly encourage new landlords who are turning their primary residence into a rental property for the first time take steps to ensure that they are fully educated and ready for the full scope of expenses associated with owning a rental property.

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