Upkeep of an income property can be time-consuming. To keep your investment property looking its best and protect your investment, it’s best to opt for a professional company to manage these maintenance needs for you. Whether you own a residential or commercial rental property, a company like Space Converters can help you keep your property at its best and avoid potentially bigger repair issues in the future.
While this maintenance work also applies to your primary residence property, rental properties tend to incur more damage. The occupants of your property may not treat the house or building with the same level of care as someone who has a feeling of ownership over the property. This can also mean that your renters do not report issues quickly enough that can then cause bigger issues such as clogged drains or small leaks. Having a company you can call to to efficiently deal with these types of renter repair issues can be a lifesaver…or in the very least a property saver! Even if you have perfect tenants, rental properties will still show signs of wear over time. A licensed contractor can help you to not only repair these signs of wear, but can also recommend finishings that are more durable than what you would perhaps choose for your own home. Replacing the materials in your commercial property and following the advice of your contractor, can save you hundreds and even thousands of dollars over the long run. Careful planning throughout the repair and replacement process can result in significant appreciation in your investment…and isn’t that why you purchased an investment property to begin with?
While maintenance to your property should happen throughout the year, an obvious time to undertake significant repairs is in between tenants. In many cases, the right repairs and updates can even increase the monthly income you draw from your property. For example, replacing worn-out carpet, no matter how nice, with brand-new durable bamboo flooring, can increase the perceived value of a rental condo by even hundreds of dollars per month. In a commercial setting, upgrading the heating and cooling systems can attract a higher-end clientele who is concerned with client and staff comfort. Either way, the time between your renters provides an excellent opportunity to consult with your contractor about property maintenance.