When you own a unit property, one of the highest ongoing costs is maintenance and repairs. From regular pest control to emergencies and larger issues, small unresolved problems can create costly issues in the future. Although spending on maintenance now may feel like a restriction to your cash flow, investing in these areas can prevent larger bills in the future, ensuring year-round upkeep of your investment property.
Here are 4 ways to save money on maintaining your unit property:
HVAC Maintenance:
Many modern properties today have air conditioning. While this makes living comfortable for tenants, these appliances need regular maintenance to keep them in top condition. Ideally, you should have someone check your air-conditioning and heating units annually. Doing this now can extend the life of the unit by 5 to 10 years.
Roof Maintenance:
A property’s roof is the first thing that defends a property from the elements, especially rain and hail. If you don’t keep up with annual roof maintenance, your property could end up with leaks that get worse over time, causing costly water damage. Make sure you get a professional to check your property’s roof each year to repair any broken tiles or replace mortar.
Plumbing Maintenance: Plumbing problems are another set of small inconveniences that can grow into costly repair jobs if they aren’t fixed quickly. If a tenant reports something like a leaking tap or toilet, make sure a plumber fixes this as soon as possible to prevent further damage.
Pest Control: It’s much easier to do annual pest control than try to address an infestation of insects or rodents once they’ve made themselves at home.