Maintaining a rental property is a balance between protecting the condition of your investment and watching what you spend. At KEYVEST, we take a preventative and cost-effective approach to maintaining your home. We know that responsive and proactive maintenance will lead to tenant retention and preserve the value of your asset.
Today, we’re sharing some tips on how to manage your rental property repairs in New Jersey.
Document All Routine Repair Requests
Unless it’s an emergency, it’s best to get maintenance requests in writing. You could ask your tenants to send an email or a text message, or if you’re working with New Jersey property managers, your tenants will likely have access to an online platform where they can send repair requests.
Written requests are often more convenient for tenants, and they will help you to document the work that was requested and the work that was done. When everything is in writing, you can minimize disputes and complaints.
Emergencies will usually require a phone call. Make sure your residents have all your contact information, and if you’re planning to be out of town or unavailable, provide them with a back-up contact person.
Work with Licensed and Insured Vendors
You need to develop relationships with all sorts of vendors when you’re renting out a home in New Jersey. Commit to high standards of workmanship and look for vendors who can give you affordable pricing. You want to hire professionals who are available to help whenever a repair is needed, even if it’s an emergency in the middle of the night. You’ll want a list of plumbers, electricians, HVAC technicians, cleaners, landscapers, roofers, and other vendors and contractors.
It’s important to maintain these relationships and get them in place early. Don’t try to cut corners by working with unlicensed people. It only increases your risk and liability, and makes maintaining your home more difficult.
Communicate with Your Tenants During Repairs
If you can’t take care of a problem right away, let tenants know when the work will be done. As you’re working with vendors to schedule work and order parts, keep your tenants up to speed on what’s happening or not happening. They want to know that you care about their problems, and it will make them feel better to know you’re working on it, even if it’s not happening overnight.
Follow up with those tenants after a repair is made. You want to make sure the problem was fixed and the vendor was professional and respectful.
Smart Investors Focus on Preventative Maintenance
You can cut down on unexpected repairs by paying attention to preventative maintenance. You should have your heating and cooling system inspected and serviced once or twice a year. It might cost you $200 or so for this service, but it can save you thousands in air conditioning or furnace replacements.
It’s always cheaper and less of a headache to catch problems while they’re minor. Have the home treated for pests and insects on a regular basis. Flush the water heater and clean the gutters and sprinklers seasonally. These are the things that keep you from spending more than you need to on maintenance.
If you have any questions about your rental property in New Jersey and how we can help you manage it, please contact us at KEYVEST. We’d be happy to tell you more.