How proactively managing rental property maintenance benefits you
As the owner of an investment property, you have chosen to rent out your property to make money. That’s the whole point.
There are many reasons why taking a proactive rather than reactive approach to managing your property maintenance is more beneficial to you as a rental provider. Perhaps, number one is the money you’ll save. Maximising your returns by checking for issues in your property before they take over and cause further damage is one of the biggest ways to avoid hefty repair bills and lost rental income.
Luckily, at Dynamic Residential, we’ve got you covered. We work with our rental providers and a team of vetted, trusted and skilled tradespeople to ensure your rental property is in excellent shape, holding its value and safe for renters. Our internal management systems ensure planned, cyclic reviews to quickly catch maintenance and structural issues, meaning your peace of mind and maintaining your property’s value.
Here are some of the ways Dynamic Residential’s unique and specialised maintenance process reduces our clients’ out-of-pocket expenses:
We look for property issues before they occur
We all know what a ‘band-aid’ solution is, and it’s never a good approach when it comes to maintaining a rental property. We work to inspect, review and repair all property issues before they become costly and unmanageable by following the correct procedures. We believe it’s in everyone’s best interests to keep up with repairs and maintenance of a property so it holds its’ value and both parties receive the best outcome; a property fit for living in for the renter and a property that gains value for the rental provider.
Here is what the Dynamic Residential Property Management team do during their regular, detailed inspection cycle:
- We review your property during routine inspections and look for issues that may require improvements or repairs.
- We inspect for and report any non-urgent updates due to wear and tear. This could be the repainting of walls, replacement of carpets, blinds, or light fittings.
- We look for tell-tale signs that could indicate a bigger issue. We detail even the smallest property inconsistency and work to get it fixed before it gets worse. These could include water damage, mould, the presence of pests and rodents, foul odours, cracked or faulty power points, exposed wires, or structural cracks.
- We identify the issue and, with your approval, arrange for it to be rectified.
- If we notice your renter isn’t meeting the terms and responsibilities of their rental agreement, we will remind them.
Renters commonly fail to:
- maintain or clean stovetops,
- keep general areas clean,
- hygienically remove pet waste,
- mow lawns,
- clean shower screens and ovens, and
- keep air vents clean. These are very important to maintain and something we are particularly stringent with. Keeping vents free of dust helps to avoid aircon/heater issues and prevent fires.
By proactively monitoring your renter’s responsibilities, we’re helping you eliminate emergencies or urgent repairs, keeping your costs lower.
We build strong relationships with the renter
It’s really important for your property manager to build strong relationships with your renters. Why? Because good renters are an investment property’s greatest asset. If they are approachable, considerate and houseproud, they’ll most likely place high importance on keeping your property and their home presentable. If a property manager is also approachable and reliable, renters will be impelled to notify them of defects and issues in their early stages. Addressing issues early on before they cause too much damage will avoid costly repair bills.
We do this at Dynamic Residential with all the renters on our roll. It’s also one way to monitor their ongoing performance as satisfactory renters. We work to ensure all rental providers feel at ease that they have trustworthy, houseproud individuals living in their properties.
Here’s how we work with renters:
- By keeping in contact and providing our details to every renter, we encourage them to let us know if:
- An appliance isn’t working
- There is an issue with the utilities (water, gas, electricity, etc.)
- They identify an appliance or property feature that needs maintenance or reviewing
- They have concerns about the safety and security of the property
- When the renter/s request maintenance, we will always let you, the rental provider, know. It is still your choice to decide if you want to begin the process of finding a skilled tradesperson to fix the issue.
- We encourage open communication with the renter/s to keep the property in the best condition possible. The reasons are vast:
- It ensures we have up-to-date knowledge of issues within your property,
- It allows us to educate the renter to take pride in and maintain your property within the terms of the rental agreement, and
- It ensures we pick up issues before they get too serious and costly.
We manage all the maintenance for you
- We manage the repair from start to finish, so you can rest easy and leave all your property management to us; it’s what all property managers should do!Here’s how we do it in 6 easy steps:
- We field the request – if we haven’t spotted an issue during one of our inspections, your renter will let us know. We will discuss the issue, even inspecting ourselves or requesting further details before making a case. Sometimes it is a simple fix the renter can do themselves, and we can assist them with this.
- We source the tradesperson to do the job – by accessing a pool of skilled tradespeople online.
- We tender the job and invite quotes – via a partnership with an online platform of skilled tradespeople. This partnership allows us to find the right skills and turnaround time at the right price. It also allows us to use ratings and feedback to help our decision-making before making recommendations to you.
- We vet these tradespeople – then provide recommendations to you. Once we’ve received your approval, we will confirm the job with the appropriate expert.
- We arrange access to your property – at a convenient time.
- We make payment on your behalf – and take any maintenance payments out of the rent unless it’s a particularly costly job, and we agreed on the arrangement with you before commencing the job.
Managing and pre-empting future maintenance allows you, the rental provider, to budget appropriately. Being obligated to pay a large repair bill without prior warning can seriously impact your day-to-day costs and mortgage repayments.
This is why at Dynamic Residential, we work to create clear communication between you, your renters and our team so that all maintenance issues are reported and fixed before they become unmanageable.