Maintaining your investment property
It’s recommended that around 10% of annual rental income is put aside for maintaining your investment property, sometimes more for older properties.
If your property has a body corporate/strata, a ten year maintenance plan should be covered in your annual fees. If you have a standalone house, having a maintenance plan for your property will help you understand where maintenance is required, when it’s required and an approximate cost.
Your property manager already arranges annual chimney sweeps for properties with fires, gutter cleaning when required - in some areas with a lot of trees surrounding the properties should be annually. Issues found or reported during the Maintenance Inspection will be detailed in your 12 weekly inspection reports so remember to read these thoroughly.
If there are any urgent issues your property manager will call or email you as soon as they are notified and help find a solution. We like to be proactive with our rental properties and as we know, prevention is better than a cure!
If your property is of an age where it may be in need of a face lift, we can put you in touch with our trusted tradesmen who will be able to provide you with the right advice.