As an investor, it’s important not to underestimate the pivotal role that property maintenance plays in keeping your investment costs down and protecting your long-term wealth. Along with keeping your tenants satisfied, maintaining your property and resolving any problems early on may help you avoid costly damage that could harm your profit potential.
While property maintenance should be a year-round priority, it is especially crucial during the winter months. The harsher winter weather can expose problems that may not have been visible during the warmer months, and minor damage can quickly escalate into a serious issue with heavy rains and storms. To avoid costly repairs, our property management team have shared some of the winter maintenance checks to consider in order to safeguard your investment property.
Inspect for wear and tear
Winter provides an opportunity for property investors to detect issues that may have gone unnoticed during warmer seasons, such as minor leaks in gutters and roofs. If left unattended, concerns such as water leaks can result in costly damages including mould growth, water stains, and damaged walls. To avoid these issues, it is advisable to schedule a maintenance check to identify and address small leaks in gutters or loose roof tiles that could lead to water damage. Although these checks may cost you initially, it is a small price to pay compared to the amount required for repairing deteriorating eaves and water-damaged ceilings.
Clean your gutters
During warmer months, gutters tend to accumulate leaves and debris, which may not be a major issue at the time. However, as the weather gets damper, this build-up can lead to more significant problems. To prevent blocked gutters from causing water damage to your investment property during wet weather, it is recommended that investors have them professionally cleaned to ensure proper diversion of rainwater.
While rental properties with pools can be attractive to tenants during the summer, they are often less desirable in the winter months. To address this issue, our property managers typically suggest that investors include pool maintenance in their lease agreement to minimise any potential inconvenience to tenants. Even though pools may not be used much during winter, it is still important to keep them in good condition to ensure they remain clean and free of damage throughout the colder season. This is particularly important if you plan to re-lease the property in winter because issues like debris and algae can discourage potential tenants. While professional pool cleaning may incur a cost, it is a minor investment compared to the significant expenses that may arise from neglecting pool upkeep. Taking extra care of your pool could even result in higher rental yields.
Check heating systems
During the winter season, tenants tend to use heating systems and appliances that have been unused during the summer months. This increased usage and change in temperature often necessitate additional maintenance from investors. It is an excellent time to arrange an annual service for your air conditioning system, as issues with split air conditioning may only become apparent when tenants start using them for heating. Moreover, wetter weather can create ideal conditions for the growth of unsightly problems like mould. Therefore, it’s important to ensure that exhaust fans are functioning correctly to maintain proper ventilation throughout the property, with extra attention given to damper areas like the bathroom and laundry.
Professional asset management
As an investor, it’s crucial to remember that your investment strategy does not end with the acquisition of a property. Ongoing maintenance is necessary to make the most of your investment property in the long run, ensuring that it remains attractive to tenants and avoiding unforeseen expenses. At Momentum Wealth, our property management team is not only dedicated to handling the day-to-day maintenance of your investment property, but also to maximising your long-term returns. Our team is committed to protecting your long-term wealth and minimising your investment costs through intelligent asset management, whether it’s helping you avoid expensive repairs or identifying opportunities to add value to your rental property.
To learn more about our property management services, please contact Momentum Wealth’s property management team via our online contact form below.
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