Understanding Property Maintenance: A Guide for Landlords

Owning an investment property doesn’t have to be hard work. However, landlords must stay on top of their property’s maintenance demands to grow its value and abide by their obligations to tenants.

By developing a detailed understanding of the time, effort and money it takes to maintain an investment property, you can create a schedule that works for your needs.

Here, we explore a selection of fundamental tips that guide landlords through the property maintenance process.

Conduct regular inspections

Even if you have complete faith in your tenants to care for your property, it’s always a good idea to conduct regular inspections. In South Australia, a landlord can enter the property no more than once every four weeks with 7-14 days’ notice.

Although this kind of frequency might not be necessary, it’ll help you keep a close eye on how your property is performing and allow you to discuss with tenants whether they’ve encountered any issues.

Remember, you also have to give tenants at least 48 hours’ notice if you intend to carry out repairs or maintenance.

Budget appropriately

You can only effectively maintain your property if you have the budget to make repairs when required. This means you have to set aside money throughout the year in case a major issue arises, such as the air conditioning breaks or a serious roof leak occurs.

As a helpful rule of thumb, it’s suggested to set aside at least 1% of the property’s value per year for repairs. So, you should put away $6,500 annually if your investment property is estimated to be worth $650,000.

Set annual reminders

It’s easy to lose track of maintenance, especially if you’re not living at the property yourself. Therefore, it makes perfect sense to put reminders in your calendar throughout the year, as this helps you perform routine maintenance and repairs before it gets out of hand.

For example, winter means clearing your gutters and downpipes of debris to allow rainwater to flow freely. Before your plants burst to life, it’s always wise to carry out garden maintenance at the start of spring. Create detailed reminders and complete them to maintain an excellent property.

Speak to the experts

Get in touch with the experts at InStyle Property Management to get informed advice about Adelaide’s property market. Our highly experienced team can help you manage your investments to achieve your goals.