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Establishing a reliable plan for the maintenance and repair of your property protects your investment and keeps the tenants happy. By following a prearranged program, you can avoid costly repairs due to neglect. Follow some general guidelines to ensure your property stays in good condition.
Instructions
1. Design your plan with safety foremost in your mind. Consult your local building authority for a copy of the housing code regulations. Even though your initial investment in bringing a property up to code may be high, calculate the cost against attracting higher-paying tenants.
2. Request a copy of your contractor's insurance policy before he begins work on your property. Should an injury arise as a result of repairs or remodeling, you can file a claim with their commercial liability insurance company for damages. Keep the policies on file for at least 5 years.
3. Designate tenant maintenance responsibilities in your original lease contract. Spell out exactly what the tenant is responsible for maintaining. Keeping the property clean and in good condition are typical requests. Make sure you instruct the tenant to advise you immediately should a defect or dangerous situation arise.
4. Schedule an annual or semi-annual maintenance inspection to address structural, safety and mechanical issues. Hire an experienced residential or commercial inspector who will test the mechanical systems as well as the overall building condition. Ask for a written summary of his findings and make needed repairs as soon as possible.
5. Respond immediately to safety issues. If the potential for harm exists, these issues are at the top of the repair list. If a windstorm blows a tree branch through a window, the situation warrants quick attention, even if you must call a contractor to go out at midnight and board up the window.
6. Consider hiring a residential manager to oversee your repair and maintenance plan. A manager who lives on the premises ensures a quick response to emergencies.
Tags: your property, good condition
