Getting a steady stream of income from rental property is not as easy as it seems.
Whether you have one or ten rental properties, you need to make sure that the income generated is enough to cover the mortgage. But even if you manage that, what happens when the property starts to suffer from wear and tear?
Maintaining your rental property is a demanding task. However, it is important to keep your property in good condition; during as well as in between tenancies. This helps prevent the rental value from dropping.
Here are 5 areas you should keep high on your maintenance list to ensure your property remains in tip-top condition:
1. Keep your home pest free
Prospective tenants may not immediately notice if your rental property has a pest problem. But left unaddressed, pest problems can increase your tenant turnover, and cause your property to become unrentable.
For example, termites can cause untold damage to your built-in carpentry, and rats and cockroach infestations can spread diseases. Some pests, like cockroaches and ants, can be dealt with using over-the-counter solutions. But other pests may require the services of a reliable pest control company.
2. Ensure that the air-conditioning units are functioning properly
Many rental properties in Malaysia come with aircon units. And it is usually stipulated in the tenancy agreement that the tenant has service the aircon units every 4 to 6 months.
However, low-quality servicing (or worse, DIY efforts) may not be effective. The aircon can suffer from a buildup of mould and fungus, or the aircon can get clogged and start leaking or smelling bad, affecting the comfort of your tenants.
Prevention is better than cure, so it’s better to have the AC units inspected and serviced by professional technicians. This way, not only will they run more smoothly and efficiently, but you can also prevent costly aircon repairs in the future.
3. Update your fixtures
Even if you offer an unfurnished rental unit, the fixtures such as door and window handles, light switches, bathroom and kitchen taps, and shower mixers and shower heads tend to suffer from lots of wear and tear.
Conduct regular checkups on these items and replace any fixtures that have worn out. Not only does this improve the appearance of your rental unit, it will also prevent further complications, such as leaks spreading to the walls or under the floor. For these repairs, you can hire a handyman to replace the fixtures.
4. Ensure that all water piping and electricals are working
According to Malaysian law, the landlord is responsible for “major” maintenance works like plumbing and electrical wiring, and tenants can expect these basic infrastructures to run without problems.
However, when problems arise, such as leaking taps, cracked switch plates or blown fuses, many landlords try to take the DIY route to save money. If the problem is simple, and you have some skill in the area, by all means do the repair yourself. But, if the job is more complex (or dangerous), you will need to hire experts to diagnose the problem and do the repairs.
To ensure your property does not suffer from any long-term damage due to faulty plumbing or electricals, seek help from reliable electricians and plumbers when your tenants report a problem.
5. Keep your property looking its best
First impressions count, and the appearance of your property to potential tenants can make all the difference to get the tenancy contract signed.
After your last tenants have moved out, consider upgrading the appearance of your rental unit. For example, hire a painter to give the unit a fresh coat of paint, or touch up any unsightly areas. You can also hire a handyman to patch up any cracked tiles or damaged flooring.
Then, hire a cleaning service to spring clean the unit. This is the best time to do it as the unit will be empty of any luggage or personal belongings.
It’s easy to find reliable contractors for your rental property
Whether you need an aircon service, plumber, electrician or handyman, you can find the best pros at Recommend.my. Just request for the service you need, and recommended pros will respond with free quotes. So you can keep your property in top condition without spending all your time managing tenant requests.