Property maintenance is one of the biggest ongoing roles a landlord needs to commit to. It's also one of the most significant roles a property manager can play.
Some Phoenix property investors assume that only emergencies require a swift response. They put off preventative and routine maintenance, not realizing how many financial problems doing so can create.
If you don't have the time or energy to start responding to maintenance issues with speed, it's time to work with a property manager. Not convinced? Read on to learn how quick maintenance and property portfolio growth go hand in hand.
Staying Compliant with Phoenix Laws
As a landlord in Phoenix, you're legally entitled to many things, including on-time rent payments. However, city laws also support tenant well-being. One of the biggest things you need to account for as a landlord is the condition of your property.
To be more specific, landlords have a legal obligation to ensure working and safe electrical, plumbing, temperature control, and ventilation. When you allow your investment property's structure to start falling apart, you get closer to the territory of legal violations. This can lead to significant fines and even property loss.
Reducing Operating Expenses
Last year, the cost to maintain a single-family home nearly doubled. Both supply chain disruptions and inflation have raised the prices of materials and labor, meaning that you can expect to pay more to maintain your rental units.
While this may make you even less inclined to act fast, it's important to think about reducing maintenance costs, not avoiding them. For example, you're going to pay a lot less to have a plumber fix a leak or a clog than you are to restore a flooded apartment. Plus, maintaining your plumbing and electrical systems can maintain efficiency and reduce operating expenses.
Keeping Your Best Tenants
If there's one thing every landlord should know, it's that it costs more to sign a new tenant than to get a current tenant to renew. If you're struggling with high tenant turnover, it's time to rethink your approach to managing a property.
There are many ways to enhance your lease renewal strategy, but all of them come back to one simple premise. How happy are your tenants and what can you do to improve their satisfaction? One of the biggest solutions is to build trust by responding to maintenance requests in a respectful and timely manner, proving that you're invested in their well-being.
Need Help With Property Maintenance? Call PMI San Tan
If you're not able to respond to property maintenance issues within days of learning about them, it's time to get more hands on deck. Our expert property managers at PMI San Tan can help.
PMI San Tan offers over ten years of industry and project management experience. Our property management services reflect a nationwide approach that we've catered to the specific needs of Phoenix landlords and their tenants. Whether you need us to fill in a few gaps or take over all day-to-day operations, contact us and get started.
