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7 min read

Save $$$ on Multi-family Rental Property Maintenance with These Hacks

Save $$$ on Multi-family Rental Property Maintenance with These Hacks

 

Multi-family rental property maintenance is daunting and results in costly repairs. However, if you know the right strategies, you can save your bucks from these expenses.

This can be done with smart investments, collaboration with tenants, and more mindful and thorough inspections. So, if you’re also tired of running a fortune on maintenance, here are all the hacks for you!

1. Call a professional to install energy-efficient solutions

Utility costs comprise a huge part of property expenses for multi-family buildings. So, another significant hack is to incorporate energy-efficient fixtures and solutions throughout the properties and even in every rental unit. Let’s know all the possible solutions here.

Low-Flow Water Fixtures

High water flow is one of the common reasons behind most property expenses. So, plumb your rental properties for the following low-flow, water-efficient components.

Concealable Showerhead Head Flow Restrictor

Tenants often tamper with low-flow showerheads and remove the restrictor for a higher water flow. Even if you reinstall another one and ask them not to touch it, they won’t listen. In the end, your rental property maintenance charges will increase unnecessarily.

So, get a patented and concealable shower flow controller for every rental unit. This small device is attached to the shower fixture behind the wall. Thus, tenants can’t access this to change the water flow!

The restrictor can also even out the water pressure throughout all units despite their floor level.

Automated Toilet Shutoff Valve

Another major cause of water loss is a leaky toilet. Tenants seldom report toilet leaks as they’re either not bothered or don’t notice them. You might identify leaks only during inspections.

Now, it’s not possible to replace a leaky toilet component every time. You may not always have the funds for regular replacement.

However, if you don’t address the issue quickly, there can be major leaks and structural issues from constant water leaks.

So, install a toilet shutoff valve that only lets water flow into the toilet tank when a user enters the toilet. Even if there’s a leak in the toilet, it won’t lead to major water loss.

Water Flow Management Device

When water passes through positive displacement water meters, it reads both the volume of air and water. So, you end up paying for both air and water.

You can save even more money by eliminating the air volume from the water with a special water flow management device. It compresses air and eliminates it before the water reaches the water meter!

 

LED Lights

Often, old rental properties have incandescent and fluorescent bulbs. If this is the case, switch to LED lights. These are energy and cost-efficient, i.e., they consume less energy and have a longer lifespan.

Window and Insulation

Insulation is a must-have for rental property maintenance to conserve energy and ensure a comfortable environment for tenants. Get insulation work done if there’s any issue.

Invest in energy-efficient windows as well to minimize HVAC expenses. These minimize heat gain and loss to a certain extent and keep the HVAC systems.

Smart Lighting and HVAC Systems

Motion-activated lights and thermostats are another investment to save on electricity consumption and utility bills. So, if a tenant forgets to switch off the lights/HVAC systems before leaving a room, the system will automatically shut down.

2. Hire a professional and follow a preventative maintenance schedule

The first hack to ensure top-notch rental property maintenance for landlords is to schedule regular maintenance. This can prevent smaller issues from snowballing into chaotic situations.

With small, ongoing repairs, you can address minor damages and avoid expensive repairs in the long run. Here are some key inspection areas to focus on in your multi-family properties.

HVAC Systems

Inspect the systems regularly and replace heating and cooling filters on time. This can also prevent major or sudden breakdowns and even reduce energy costs. It’s crucial as 19% of electricity consumption in US households accounts for air conditioning usage.

Plumbing Systems

Regularly check for leaks, clogs, and cracks in the entire property's plumbing system. Additionally, assess for clogs and get them fixed immediately.

Water Heater

Regularly flush the water heater to remove and prevent sediment buildup. Monitor the anode rod at least once a week to enhance its efficiency and lifespan.

Check for leaks and damages and ensure the heater temperature settings are correct. Otherwise, it causes expensive water damage and energy loss.

Roof and Gutter

Another important area of rental property maintenance is the roof, gutter, and downspouts. Conduct regular inspections and cleaning of these areas. Don’t let dust and debris accumulate in these zones.

Otherwise, water can’t flow freely away from these areas and damage the property. It might lead to leaks, damps, and the growth of mold and mildew.

If any component is already affected, repair or replace it immediately.

Carbon monoxide and Smoke Detectors

Carbon monoxide and smoke detectors must always be functional to ensure both tenant and property safety and follow building code compliance.

Regularly test all detectors’ functionality during rental property maintenance. Replace batteries or even the detectors as needed.

Electrical Systems

Evaluate wiring, break panels, and outlets and ensure everything follows the local rules and regulations. This inspection will prevent fire hazards.

3. Inspect empty rental housing more frequently

In the occupied units, there’s a higher chance of noticing issues because tenants use them daily. However, it’s different for empty ones. Since nobody stays, there’s a chance that damages may go unnoticed for longer.

So, conduct thorough and frequent rental property maintenance in empty units. Check these at least twice as regularly as the occupied ones. Undertake the following steps:

  • Test all appliances, outlets, and water fixtures and ensure everything is functional.
  • Observe for signs of wear and tear on carpets, flooring, walls, and furniture (if any).
  • Vacant apartments are more prone to pest infestation. This can happen at an unfathomable speed if not detected early. Undertake pest control measures more frequently.

4. Never compromise with quality for rental property maintenance and repair

During rental property maintenance, several landlords try to cut corners by using cheaper materials or labor. They might save money momentarily, but it can lead to several repairs in the long run, adding up more to the overall expenses.

So, select durable and high-quality materials like the following.

  • Use sturdy flooring materials like tile and laminate, especially for high-traffic zones in both common areas and rental units. These are also easy to maintain and clean, so you won’t have to replace them too frequently.
  • While picking plumbing items, go for high-quality brass or stainless steel fixtures and faucets. These break or leak much less.
  • Don’t use laminate for kitchen countertops. Instead, get durable and damage-resistant options like granite or quartz.

Similarly, only experienced professionals are appointed for repairs and maintenance. Inexperienced workers may offer subpar results. Thus, you’ll have to get repairs and replacements more often and lose more money than saving.

5. Build a tenant responsibility plan

Often, landlords assume that they must handle all rental property maintenance and repairs. However, if you entrust tenants with minor responsibilities, you can reduce some burden. Let’s go through certain responsibilities here.

Regular Rental Property Maintenance Responsibilities For Tenants

Early reporting

The most important duty of tenants is to report even the smallest concerns, including leaks, broken structures, and burned-out appliances, immediately. On-time reports ensure that the issues are addressed before they magnify. Thus, the repair costs won’t be too high.

Educate tenants about all signs of wear and tear so they can be more alert and report swiftly.

Simple maintenance

Ask them to take over minor issues like unclogging drains by themselves, changing blown light bulbs within the rental unit, or replacing the respective unit’s air filters.

Lawn maintenance

This is for properties with a lawn and yard that all tenants can use, i.e., it’s not just for curb appeal. Put tenants on lawn and yard maintenance duty alternately. Ask them to take turns to water plants, pull out weeds, and mow the lawn.

Seasonal Rental Property Maintenance Responsibilities For Tenants

Ask tenants to follow these responsibilities when every respective season arrives.

Winter Checklist

  • Monitor weather stripping and seals around doors and windows.
  • Prevent the pipes from freezing.
  • Set respective thermostats at appropriate temperatures.

Spring Checklist

  • Clean HVAC filters.
  • Investigate for water damage signs.
  • Check for plumbing leaks.
  • Test smoke detectors and other alarms
  • Clean gutters and downspouts.

Summer Checklist

  • Inspect the rental home for pests, including flies, mosquitoes, and ants.
  • Close blinds throughout the day for energy-efficient usage of fans and air conditioning.
  • If there’s a pool, they must avoid dirtying it.

Fall Checklist

  • Regularly remove leaves and other debris from outdoor spaces, roofs, gutters, and downspouts.
  • Check for and report any draft within the rental units.
  • Drain outdoor faucets.

By delegating minor tasks, you can reduce the pressure of rental property maintenance for landlords.

Sometimes, tenants may not be keen on taking up these responsibilities or may perform them half-heartedly. Motivate them by offering special perks after they complete certain responsibilities, such as:

  • A slight lease renewal discount or a free upgrade to a better unit.
  • Free carpet cleaning, appliance maintenance, or fresh paint.

6. Appoint a professional property manager for rental maintenance

Handling multi-family properties all alone is no joke. As there are too many responsibilities in rental property maintenance, you might struggle to focus on all areas equally. This can instead damage the property and result in expensive repairs.

Ways a professional property manager makes life easy

Hiring a reputable and qualified property manager will have some upfront expenses. However, the right professional can eliminate major expenses and losses by helping you with the following:

Efficient property management

Property managers are connected with several reputable contractors. They ensure all property management, maintenance, and repair tasks are done efficiently, on time, and at competitive rates.

Tenant relations

A significant part of property management is keeping tenants happy. Property managers consistently stay connected with your tenants on your behalf. They’ll address all reported issues swiftly and enhance tenant satisfaction and retention rates.

Legal compliance

They have all relevant knowledge about local laws and regulations. They’ll adhere to them and reduce legal risks.

7. Beware of the rental property maintenance myth

Myths about rental property maintenance often misguide landlords and result in more expensive repairs. So, let’s debunk these misbeliefs and ensure cost-efficient decisions.

Landlords must handle everything alone.

While DIY-ing certain repairs and maintenance is possible, some landlords want to cut costs and do everything by themselves. They also tell others to follow suit and save money.

However, you might miss major issues due to a lack of expertise and burnout. Improper maintenance will only ruin your property’s reputation.

Rental property repair and maintenance costs are fixed

Like every other industry, the cost of repair and maintenance of your rental units won’t stay the same. It will depend on the market rate fluctuation of materials, the problem, and labor.

Further, if it’s a peak season or there’s some natural calamity, the workers may demand more.

Insurance always covers damage repairs

This one is tricky!

Insurance will cover only what’s mentioned in the policy. Read the policy thoroughly and check for exclusions. For instance, routine maintenance is the landlord’s responsibility and is not covered. Damages due to neglect aren’t covered.

Functioning properties don’t need regular maintenance.

Some believe that so long as rental units appear to function well, they don’t need maintenance. However, this can lead to major expenses later.

Certain issues may not be noticeable by the untrained and lead to serious breakdown. So, always conduct timely rental property maintenance.

8. Bulk purchase supplies for rental property maintenance

A useful trick to save money on rental property repair is to invest in bulk items instead of buying them as needed.

During rental property maintenance, you’ll often notice something that needs attention. So, get all the necessary items in bulk during a sale for a better discount and avoid the premium prices.

Some items to gather in bulk are light bulbs, smoke detector batteries, air filters, paint, flooring materials, and cleaning products.

Conclusion

Effective rental property maintenance requires hiring experts, buying the right materials, and ensuring every nook and cranny of your property is in habitable condition.

However, this doesn’t need to burn a hole in your pockets. By implementing the abovementioned strategies, you can save money without compromising the maintenance quality.

So, embrace these hacks, attract more tenants, and reap the profits with your well-maintained properties! 

Lastly, if you’re looking for cost-efficient, water-saving solutions for rental properties, check out the products from TheWaterScrooge!