Maintenance is a top priority for managers of rental properties. Research shows 80% of property managers play a role in performing or coordinating maintenance tasks.
Therefore, it is essential to have an understanding of different types of rental property maintenance approaches. You can then analyze your needs and implement the best ones that help you achieve your objectives. Here are the top maintenance strategies you can try out for your property.
Routine or Preventive Maintenance
Property managers conduct regular, planned maintenance of their properties around the year. The job involves minor repairs or fixes that help buildings and equipment keep working optimally. Some people also call it routine maintenance and determine a fixed schedule for performing the workflow.
Examples of regular maintenance include painting walls or cleaning debris from the roof. It can also involve other work based on the nature of your property.
Additionally, routine maintenance includes preventive measures to save costs in the long run. Preventive maintenance generally applies to vital building systems like HVAC and plumbing.
Examples of preventive workflows include changing filters of your HVAC or batteries of the smoke alarms. These measures ensure the safety of the occupants and improve the longevity of building systems.
Generally, routine and preventive maintenance are lower in cost and have less impact. However, performing them is essential to keep your property in top shape. It is also the strategy 76% of companies preferred in 2020 in the manufacturing industry.
Property managers can employ in-house staff to perform simple routine maintenance like cleaning. On the other hand, only licensed personnel should attend to maintenance related to HVAC or electric systems.
Corrective Maintenance
Corrective maintenance comes into the picture when your property needs basic repairs. They revolve around non-emergency items and do not affect occupants seriously.
Let's say one of the LEDs in your hallway stops working. The situation may create a bit of inconvenience, but your occupants will not feel any severe impact. The other lights in the hallway will allow everyone to find their way without any trouble.
The property manager's duty will be corrective in nature, i.e., to change the LED at the earliest. Otherwise, it may make the tenant experience unpleasant and impact the decision to renew the lease. Corrective maintenance shouldn't be confused with emergency maintenance. We will discuss emergency repairs in a while to paint a clear picture.
Seasonal Maintenance
A change of season may require property owners to look into their rental properties. The location of your rental space will determine the workflow. However, you will have some responsibilities when winter or summer sets in.
For example, unpredictable snowing during spring can lead to flooding. In fact, 32% of home claims made by residents are during the spring. Therefore, seasonal maintenance is essential for any property manager.
Here are some examples of seasonal maintenance tasks when summer is approaching:
Inspection of roofing and gutters
Fixing broken window seals
Clean debris and leaves from the property grounds
Testing alarm systems and smoke detectors
Inspect building ventilation and dehumidifiers
Consequently, the approach of winter also requires a few maintenance tasks like:
Installing insulation for exposed pipes
Sealing holes and gaps to prevent rodent infestation
Checking pipes for leaks
Fixing the roof and replacing any missing tiles or shingles
Cleaning chimney of fireplaces
Emergency Maintenance
Preventive maintenance can go a long way to reduce the need for emergency repairs. However, equipment and building components sometimes break down even after regular maintenance.
These emergencies hamper the life of the occupants seriously. In extreme cases, such emergencies may even cause harm or injury to the tenants. A less serious example of an emergency is when your HVAC stops functioning in the middle of a heatwave. Your tenants will be highly uncomfortable and look for a respite at the soonest.
Serious emergencies can include a damaged roof or flooring that might cave in at any moment. In such circumstances, property managers need to act instantly to contain the damage and fix the issue. Otherwise, the life of the tenants would be at risk, and your reputation would go for a toss. Property managers should always be reachable to handle emergency repairs.
Predictive Maintenance
Another type of rental property maintenance is emerging as a top winner in recent years. Known as predictive maintenance, it uses historical and real-time data to predict when equipment like HVAC may break down.
Property managers will need to use building automation software or predictive maintenance software to achieve the task. The job may also involve the installation of sensors in equipment to collect real-time data. Additionally, the sensors allow the software to monitor the health of your building systems like HVAC. The technology used for the purpose is the Internet of Things or IoT.
As a result, any smart building can take advantage of predictive maintenance for a range of benefits. The most important one is the reduction of capital expenditure in the long run. According to Buildings.com, it can help maintain the value of the rental space and reduce risks for property managers. Additionally, as per Deloitte, predictive maintenance can:
Reduce maintenance costs by 25%
Lower breakdowns by 70%
Boost productivity by 25%
Maintain Your Rental Property like a Pro with Assetsoft
Property managers need the right advice and technology to make the most of different types of maintenance. Assetsoft is a leading consultant and technology provider for real estate agencies to create a name for themselves.
Our team can help you find and customize the right software for your business needs. We can also be your partner to incorporate the latest building systems using IoT. Additionally, we can help you excel at predictive maintenance with a range of solutions based on AI and ML. Get in touch with us to know more.
Property managers will need to conduct routine maintenance of rental properties. However, don't forget to include preventive measures to limit the need for corrective and emergency maintenance. Additionally, ensure only licensed professionals take on repairs relating to building and electrical systems. Also, plan in advance and create a schedule for your maintenance tasks.