Wednesday, November 30, 2011

How can Lanlords Minimize Financial Losses Related to Repairs and Maintenance?


How can landlords minimize financial losses related to repairs and maintenance?

You can avoid many problems by maintaining the property in excellent condition. Here's how:
  • Use a written checklist to inspect the premises and fix any problems before new tenants move in.
  • Encourage tenants to immediately report safety or security problems such as plumbing, heating, broken doors or steps -- whether in the tenant's unit or in common areas such as hallways and parking garages.
  • Keep a written log of all tenant complaints and repair requests with details as to how and when problems were fixed.
  • Handle urgent repairs as soon as possible -- take care of any safety issues within 24 hours. Keep tenants informed as to when and how the repairs will be made.
  • Twice a year, give tenants a checklist on which to report potential safety hazards or maintenance problems that might have been overlooked. Use the same checklist to personally inspect all rental units once a year.
Also, your commitment to repair and maintenance procedures should be clearly set out in the lease or rental agreement.

Call me, I can help you Protect your Current Assets and Future Wealth.
Carico Insurance Agency- 772-3362

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