Often times, than not, being a landlord entails an inherent financial responsibility. Additionally, landlords are responsible for ensuring safe and adequate living conditions for their tenants. According to the law, a habitable property is one that is structurally sound and has working heat, electricity and water.
Rental properties that are not in a reasonable condition, however, tend to attract tenants that may not be as reliable. Facts are if you’re not maintaining your property, you’re allowing people to think that you don’t care. Therefore, they won’t feel a need to take care of the rental unit as well.
Quality tenants don’t ask for much, so long as they are getting a decent place in return for the amount they pay for rent. After all, rent in the Walnut Creek area is not inexpensive, so just be sure the property is maintained, clean and updated when needed throughout tenancy.
Landlords tend to not be as serious about maintenance as they should be. It’s really important when you’re an owner, or landlord, to be prepared for the expenses of property maintenance because they’re going to happen.
For instance, look at the house you currently reside in. Things break and sometimes things happen that are out of your control, so you have to be prepared to pay for those repairs. For these reasons, Stokely Properties, a Property Management company in Walnut Creek, recommends that landlords should set aside at least 20 percent of what their rent is for issues that may arise.
Essentially, have a reserve account for any unforeseen situations. This way there is no surprise and no drain on your personal bank account.
Regardless, you still have regular maintenance to deal with also and it’s important to keep that in mind. Taking care of small repairs before they become a bigger problem will save you money in the long run. Preventative maintenance is the only way to go in order to avoid expensive repairs.
Here at Stokley Properties, Walnut Creek property management company, we strongly recommend not having renters maintain your property’s yard. A lot of the time renters have the best intentions, but people get busy and things get put off. This not only leaves your property with weeds, but most likely complaining neighbors as well.
These are situations a landlord wants to avoid at all cost, so hire a bi-monthly yard service to manage the lawns for you. It doesn’t have to be anything extravagant. Just a simple mow and blow will do.
If your tenants have a green thumb and want to plant flowers, that’s great. However, remember when it comes to mowing the lawn, pulling weeds, and trimming hedges, have a professional yard service do it for you.
Additionally, if your property has a pool then the same goes for it as well. A pool that is not properly maintained can quickly become a mosquito farm. Eventually your pool will turn from blue to green and nothing about that is attractive. So, again, hire a professional to manage the pool for you. Depending on the size of the property, these bi-weekly services will generally run you $60 to $70 a month. Not too shabby.
By knowing these inherent maintenance costs exist, you will be better prepared financially. If you can work with a Contra Costa County property manager, you will be in an even greater position.