Every business will benefit from reducing costs in any area of the operation. As a property owner, it’s up to you to reduce costs any way you can. If you are working with our Northern Virginia property management team, we’re here to help you save money on most costs, including necessary maintenance.
Do you know what type of maintenance savings opportunities exist? When you pick the right property management company, you get the support you need to reduce costs. Here are some tips to get you started.
The Biggest Cost for Maintenance: When a Renter Moves Out
When a renter moves out of your property, chances are good there will be some work that needs to be done. Most often, you’ll have a deposit to cover most damages – and you’ll then need to determine the reasonable charges for those damages. Your rental contract should also outline who should pay for repairs to the property, based on the terms there.
Yet, even in the best of cases, there will be situations where the work that needs to be done costs is more extensive. That’s when you need to make the right decisions about saving money.
You Could Do The Repairs Yourself
One of the most common steps property owners take is to do the work themselves. If you are handy enough to do this, you will save money doing your own work. However, if there’s a chance that doing the work yourself isn’t going to yield the best results, it is worth hiring a professional.
Here’s an example. You may need to replace the kitchen faucet. If you have the tools and a bit of know-how, it may cost about $100 in parts to get the work done. That’s less than paying for a plumber’s time. However, if you cause more damage to the property, such as springing a leak, it is going to cost you more later.
The property owner can do most simple repairs and maintenance tasks if he or she has these skills. You can do things like:
- Fix the toilet
- Address a leaking faucet
- Do some painting
- Clean the carpets
- Fix a noisy floorboard
There are other simple home repairs and maintenance tasks you can do. With the help of a few videos on YouTube, a handy person can tackle those needs with ease.
Use Savings Discounts and Coupons
When it comes to making repairs or doing updates, don’t be afraid to ask for a good deal. You can often find discounts to help cover your costs. You can also simply ask a repair professional for a good deal. Being knowledgeable about what needs to be done and the process can also help to reduce your overall costs.
When you need to work with a professional to handle home repairs, make sure they know you need a fair price. And, when they give you that price, make sure you turn to that professional every time. That builds a strong relationship and one that’s affordable to maintain.
Don’t Over Upgrade Your Property
It is possible to upgrade too much – and that’s going to cost you. Instead of replacing components, repair them instead. Sometimes, you can just touch up rather than replace components of the property. That can help to give you a much better price point on the work that needs to be done.
For example, let’s say you have windows that have drafts. Instead of replacing them because they are overall in good condition, tackle the drafts and leaks around them. The more tearing out you have to do, the more costs you’ll have to pay in the process.
Know How to Get Help from a Property Management Company
There are going to be times when you need help. If you want to save money, use a Northern Virginia property management company to help you. When you work with our team for the process, we’ll work closely with you to ensure you are getting all of the necessary maintenance and upkeep done, but also to ensure you always have a team of professionals to keep costs down.
The advantages of working with a property management company include:
- Using only licensed professionals to ensure the work is done correctly the first time.
- Keeping costs as low as possible.
- Ensuring the work is maintenance when it needs to be done and not before.
Our Rent Estate™ Advisors team is here to help you with a wide range of resources and tools. Because we have long-standing relationships with licensed contractors and repair teams, you do not have to worry about overpaying for these services. Best of all, you can be as hands-off as you like.
Ready to get some help managing your property? Give our team a call. Call Renters Warehouse DC/NOVA today.