How to Keep Maintenance Costs Low
Minimize Expenses, Earn More
Many property owners are plagued with sky high maintenance costs, resulting in lower overall profits. In fact, some landlords struggle to turn a profit at all, thanks to a seemingly never-ending list of repair bills. While things do go wrong from time to time, making repairs unavoidable, there are certain measures you can take to keep your costs more manageable. Use the following tips to get a better grasp on maintenance costs in your rental units.
Invest in Proactive Upgrades
It may feel counterintuitive to spend more money in order to lower costs, but proactively addressing future problems can save you a bundle in the long run. Many homeowners only make upgrades to their rental homes after something goes wrong, but this approach can cause problems to grow ever larger.
For example, if your home's roof is missing shingles, it's better to pay to fix it now, as opposed to waiting until the situation is really dire. If you let the issue spin out of control, a few missing shingles could turn into a roof that needs a complete overhaul. The same can be said about many other repairs and upgrades.
Save for Maintenance Costs Every Month
If you have mortgage payments to make or debts to pay off, you're likely applying your rental income to these obligations. Unfortunately, some homeowners treat any additional funds as extra spending money, rather than putting some aside for a rainy day. Ask yourself, if your rental needed urgent repairs to the tune of several thousand dollars, how would you finance these expenses?
Many landlords are forced to borrow money in this situation, incurring interest, bank fees, and a pile of debt. Instead of finding yourself in these shoes, make a habit of saving a percentage of your income every month for unforeseen circumstances.
Stop Taking the DIY Maintenance Approach
Landlords often turn to property management firms in southern Utah for convenience, only to find themselves shocked by lower maintenance bills. The simple reality is that many times a DIY fix costs more money than the same service from a property manager. At Keyrenter, we're able to negotiate bulk services from vendors and contractors, with rates lower than what you might be able to obtain on your own.
Furthermore, we get the job done right from the start. Many handymen try to patch a problem and hope it does the trick, but we used licensed workers to complete repairs that meet building codes. This saves money in the long run, as the same problem is unlikely to reappear.
Dealing with maintenance costs is simply one of the harsh truths of being a property owner, but don't be fooled into thinking you have no power over these expenses. By thoughtfully investing into your property's upkeep, saving for the future, and choosing the right partners, you could save yourself a small fortune over the lifetime of your property.
Want to learn more about our dedicated maintenance services? Give us a call to get started: (435) 414-6600
PROVEN AND TRUSTED
I have been so impressed with not only the quality of service, but the punctual service and communication skills that I have seen through Keyrenter. I would absolutely recommend using Keyrenter.
Keyrenter is very organized. I have had several problems with my condo, and Keyrenter has been on top of everything. I can’t say enough good things about the company.
Why Choose Keyrenter?
An experienced industry leader advocating for our clients.
Experience that Speaks for Itself
Many homeowners have worked with small property management firms that make big promises and deliver underwhelming results. At Keyrenter, we strive to ensure every customer receives the best service possible. With offices nationwide, our proven approach has helped thousands of homeowners to maximize the value of their investments.
We Pay Attention to the Details
Don't be tempted to cut corners when it comes to property management solutions. We use a combination of cutting-edge technological resources, educational tools, and ongoing training to ensure our team continues delivering the best management in the industry. We'll maintain your home and ensure it delivers results for years to come.
Our Transparent Approach is Unparalleled
We treat our clients like business partners—we can't stay successful unless we keep your property performing optimally. Unlike other firms that use hidden fees and expenses to boost their bottom line, we're committed to honesty. We develop one-on-one relationships with our customers and provide customized advice.
READY TO GET STARTED?
Send us a message or give us a call today: (435) 414-6600