Property investment in residences means that while residents are expected to clean their homes and respect their condition, it is you, as an owner and investor, who is responsible for repairs and upkeep. While repairs can be expensive and must be addressed when needed, there is one way to minimize major repairs: creating and adhering to a maintenance schedule.

Fixing Small Problems

The best way to avoid the unpleasant surprise of a sudden major repair is to schedule regular inspections and maintenance. No matter how good a property's condition may be, time, wear, and tear, as well as weathering, will inevitably have their effect. A regular inspection of the roof, however, may reveal a small leak, while inspecting water pipes may uncover some rust or a part that needs replacing. These are small issues that, when caught early, can be addressed in a short time and at low cost.

However, if these problems go unnoticed and unaddressed, they tend to worsen over time. Given enough time, a small leak in a roof can lead to insulation problems, pests, and other issues. A water pipe with minor rust or in need of a part replacement can develop into a major leak or pipe break, requiring renovation to address the significant water damage to walls and other parts of a property.

It's important to have a realistic schedule for inspection that considers the characteristics of the property and components involved. Some parts of a property may require quarterly inspections. Some may only require an annual inspection. Still others may only require an inspection every three to five years. By regularly conducting inspections and performing any necessary maintenance, significant preventive action is taken. This ensures that small problems are fixed quickly with a lower cost, rather than dealing with a large, expensive problem at a later date.

To ensure your property management efforts receive the necessary inspections and maintenance, contact Occupancy Solutions and let us help.