Proactive Repairs Creates Profits

The Landlord's Almanac - Landlord Conversations

Doing proactive maintenance for $1,500 a year is way cheaper than 1 fire, 1 flood, 1 tenant turnover, and stress.
Recorded:
December 19, 2019

Host:
Kassandra Taggart
Dave Stohr
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Show notes:

Introduction

Today, secrets around the maintenance of a property that can help save money.

Does pay now or pay later apply to maintenance?

Yes, a $2 issue can become a $2,000 issue.

Example of a turn valve for plumbing.

Should every landlord make a maintenance checklist?

We ask when is everything due to keep up it maintenance to avoid headaches.

When it isn’t done, other things can happen that is more costly.

Having tenants be upset over maintenance causes liability risks.

If left unattended, like gutters, what can happen?

Mold, flood, ice dams, insurance doesn’t cover.

Now we had to end the lease and it became very costly.

You’ll want vendors to be licensed and insured and for that work.

Grading of the landscape does matter.

If water flows to the house and not the street, it can cause leaks in the house.

This isn’t covered by insurance

There isn’t a school for this knowledge.

I have 20 years of experience, and lots of properties, which allows you to see trends and solve them.

A story about not having any no heat calls.

Servicing the heating systems

Different types of customers.

It is best to do it yearly. Those that don’t get it done, tend to have a harder time keeping tenants in the property.

When you maintain, then the life of it will last longer.

Do properties need AC in Alaska

Tenants are looking for it.

Filters can be costly if not repaired.

A story about the failure of a furnace filter during a cold month.

Carpets without pads can keep things more affordable.

The trend of hardwood floors vs carpet.

It depends on the maintenance, budget, type of building.

Curb appeals matters.

I wish more landlords in anchorage care about curb appeals.

Because when this done, I get better tenants, better rents, and rents faster.

Maintain around the dumpster.

Locks on the dumpster.

Make a budget for trash.

Dumpsters can have different plans.

Type of appliances used in the properties.

Stories about challenges in finding parts

Time to fix things is theft of time, value for a tenant, and money.

How many times do you do assessments?

I do them 4 times a year, most in our customers do it every 6 months.

Landlords that reject the inspections cause more costly mistakes.

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