What are the risks with property maintenance?

Owning an investment property like your property open to short or long term rental, can be a lucrative and profitable experience, but it comes with risks, and how you as a landlord manage those risks can determine the ultimate success of your investment.

What are the risks with property maintenance?

If you fail to properly maintain the property it can result in damages to the property and the property equipment. For example, incorrect chemical balance can damage the property surface causing you repair costs that can well exceed your tenant’s security deposit.

If you allow the chlorine levels to go too low, algae and other organisms can grow in the property. This can potentially expose you to liability for health hazards if a property users get sick.

What are the risks with yard maintenance?

If your property has a nice yard and you fail to properly maintain it, it can result in upset neighbors, HOA violations and upset tenants when you enforce your lease. However, at worse it can result in loss of the existing landscaping and repairing that damage can well exceed your tenant’s security deposit.

Having both a property and yard care vendor regularly at the property is an extra set of eyes on the property each week and a risk reducer. For example, if the landscaping is dying during dry weather, the landscape vendor can instruct your tenants to turn on the irrigation system or alert you of a problem before it becomes an expensive one. If you operate property incorrectly or have disabled safety features, your property maintenance vendor can alert you of the problem.

Build the cost of these services into the rent to manage your financial and legal risk.

If you have any questions about property maintenance, contact Resortifi’s Customer Support Team.