According to www.careereplorer.com, there are 317,300 property managers in the United States and the property manager job market is expected to grow by 10.3% between 2016 and 2026. The property management industry in the United States generates $88.4 billion in annual revenue and is expected to grow. This means Property Maintenance and being Proactive and having a Routine Property Maintenance plan is critical for many reasons. Let’s jump in!
Companies such as Airbnb and Vrbo have made it much easier to become a property manager in recent years. Residential property management has seen more industry growth than nonresidential or commercial property management. Many people slide into this field not knowing much outside of it can be a steady passive income stream and they are not focused on Routine and Preventative Maintenance.
Routine property maintenance is an essential, proactive, and preventative approach to property management. Being proactive, rather than reactive to maintenance items, will save you time and money in the long run as you manage your commercial and investment properties.
Preventative maintenance is defined as planned, routine tasks performed to catch and prevent any unplanned issues that could later cause larger expenses. These maintenance plans are preferred by commercial and rental property managers as it’s the quickest, smartest choice in the operations of the rental business. Awareness and strategically planning your preventative maintenance will help ensure that your property is consistently in working order for your clients’ use.
On the flip side, reactive and emergency maintenance issues occur when equipment is either malfunctioning or broken, and restoration is needed immediately. Unfortunately, there are property managers who operate with a “run to failure” maintenance strategy that follows the mindset that you run your assets until they fail and then replacement is ultimately needed. Operating reactively causes unpredictability, inconsistency, and is a costly approach to your property’s maintenance. You will face higher expenses for emergency labor repair costs and expedited materials to replace.
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Below is a list of Routine Property Maintenance items you should incorporate in your property’s preventative maintenance plan:
- Water Leaks and Damage
Start with all water sources for leaks and then do a thorough floor-to-ceiling inspection for any signs of water damage. This is the most common maintenance issue to escalate quickly and create heavy remediation.
- Fire Hazards and Smoke Detectors
Especially in rental units, it is important to take measures to eliminate fire hazards. You can start by ensuring that the kitchen exhaust system is degreased to remove flammable residues. Laundry room dryers can be another fire hazard as built-up lint could combust and catch fire. To aid in this, we recommend checking your smoke detectors monthly, replacing backup batteries annually. Hardwired and battery-powered detectors should be fully replaced every 10 years to ensure reliability.
Check your property for signs of pests and rodents annually at the least. Check your warehouses, garage, storage units, pantries and attics for any droppings, damages to wood, and small holes in walls and floors. Call a professional pest control company to help seal and rid unwanted critters out of your property.
- Winterize Exterior Lines and Units
Winterize your irrigation system in the Fall to avoid running the risk of freezing water in your irrigation valves, pipes, and sprinklers. Furthermore, winterizing your exterior air conditioner prevents rodents from nesting inside this unit.
- Water Heater and Water Softener
Flush your water heater quarterly to keep out any mineral sediment buildup and rust formation which can cause unit failure. Be sure to incorporate softener salt to your routine maintenance. We recommend a quarterly supply and inspection of your water softener.
- HVAC System Maintenance
Changing your filters and getting your air ducts cleaned will help maintain your air quality. We recommend your air ducts to be professionally cleaned every 3 years and your furnace and humidifier filters to be changed quarterly. Additionally, cleaning and maintaining your air exchanger will reduce energy required to circulate air typically twice every hour.
As a professional property manager, any unplanned consumers of your time and money contradict the goals that you’ve set for yourself as you invested in your property. Take time to create a preventative maintenance plan to ensure that your assets can withstand the long term. You can begin today by developing a quarterly, bi-annually, or annual plan of routine property maintenance items that range from changing filters to professionally cleaning your air ducts and vents.
Call Kura Home today at 888-858-5872 to get more information about our air duct cleaning and professional routine property maintenance services.