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Maximizing Your Property's Value with Property Maintenance in Phoenix, AZ

Maximizing Your Property's Value with Property Maintenance in Phoenix, AZ

In Arizona, a landlord has maintenance and repair duties that they cannot assign to their tenants. Being a responsible rental property owner involves handling routine maintenance and repairs.

Not only will this keep you compliant with the law, but you will maximize rental property value. This can draw in new tenants when you have vacancies and keep current tenants happy.

How can you prepare for regular property maintenance and repairs? Keep reading to learn the best practices.

Determine Annual Maintenance Costs

To prepare for future property maintenance and repairs, you need to determine annual maintenance costs.

Many landlords use the 1% method which assumes that the annual cost of rental maintenance would equal about 1% of the property's value.

You could also use the 50% method. This method involves setting aside 50% of property income for maintenance.

The square footage method is also common. This suggests that you would spend about $1 per square foot every year to maintain your rental property.

Have Reliable Contractors on Call

Landlords may try to save money by handling Phoenix property maintenance on their own. While you might have the skills to complete easy maintenance tasks, it's best to hire reliable contractors.

When you hire property management companies in Phoenix, they can handle maintenance coordination for you. You won't have to make or schedule repairs, but you will still be responsible for funding the repairs.

Phoenix property management companies often come with a network of reputable contractors they've worked with in the past. You can also tell them to hire contractors whom you are already familiar with.

Hiring contractors rather than completing maintenance yourself will help maximize your property's value. Tenants want to live on a well-maintained property. There's no better way to show that than by hiring professionals.

Plan a Schedule

In addition to being available for repairs as needed, you need to have a schedule for routine maintenance tasks. Figure out what time of year is best for each of them to be completed.

If regular Phoenix property maintenance involves going into units, be sure to communicate with your tenants in advance. You need to schedule a visit and can't just barge into a unit, despite owning the property.

Some of the necessary regular property maintenance tasks are:

Regular inspections will catch problems before they become too costly. It's also important to regularly check appliances and the structural integrity of your property.

We're Here for Your Property Maintenance Needs

Routine property maintenance is a must for maximizing your property's value, but that isn't the only benefit. A maintenance plan will keep your tenants happy and keep you compliant with the law.

At Real Property Management Phoenix Valley, we remove the burden of property management on landlords like you. With our experience, we can help you determine maintenance costs, hire contractors, and create a checklist.

There's no better time than the present to get started. Drop us a line today to learn more about our helpful services.