Deferred maintenance leads to expensive emergency repairs, and we work with owners and investors to avoid those situations. At North San Diego Property Management, we manage multifamily and commercial properties in the North County area, including in Oceanside, Carlsbad, Vista, San Marcos, and Solana Beach. We have preventative maintenance plans in place that save our owners money and preserve the condition of their assets.
Identifying and Fixing Maintenance Items
When a maintenance issue is reported, it’s critical to give it attention right away. A small drip under a sink in a bathroom might seem like an issue that can be dealt with later. But if you wait too long, it becomes a full-fledged plumbing problem that may lead to more expensive repairs and damage to other parts of the property. When tenants submit a repair request, get someone over to the property to look at the problem as soon as possible. There is not a single maintenance issue that becomes less trouble and less expensive over time. When you’re proactive, you save money.
Annual Service Contracts for Buildings
Spending $300 or so to have your HVAC system inspected and serviced every year is an excellent investment. Why? Because a new air conditioning unit or furnace will cost you thousands of dollars. When an expert technician is looking at it at least once a year, you won’t be surprised when it suddenly stops working or needs to be replaced. Have your building inspected annually, and take care of any issues that are identified by the professionals who are looking at its systems and functions.
Creating a Maintenance Budget and Maintaining Reserves
Sometimes, owners are taken by surprise when something big has to be repaired or replaced. Don’t put yourself in financial jeopardy. Create a budget for home repairs for each property and estimate what you’ll spend on maintenance every year. Put a little of your collected rent aside every month so you can build up a reserve fund. In our management contracts, we require a $300 fund for maintenance items. If something will cost more than $300, we communicate with the owner and come up with a plan. But, if it’s a simple repair that’s under $300, we typically make the repair and pay for it out of that maintenance account.
If you have any questions about how to put together a smart maintenance plan, please contact us at North San Diego Property Management. We’d be happy to share more tips and advice.