Annual maintenance for a home in Contra Costa can seem reasonable especially when compared with much higher rates across the bay. In general, while rents are lower, expenses related to maintaining and keeping those properties on the market will also be lower. The weather is milder<\/a> and strain on utilities and appliances is also, generally, that much less.<\/p>\n But nearly every new property owner is going to underestimate the costs of upkeep<\/b>, damage and just regular maintenance. In general, and depending especially on the age and dimensions of your property, we recommend maintaining a fund of something like on hand so as to be prepared for furnace or HVAC or water heater expenses. But to emphasize, this amount can vary and really depends on the age and expected lifespan of the equipment or utilities in question.<\/p>\n This article is really for the newer investment property owner. Although, it shouldn\u2019t surprise anyone, expenses related to maintaining any property will quickly mushroom, if the following points aren\u2019t followed with a relatively \u201creligious\u201d strictness.<\/p>\n\n
\nEvery time any tenant calls for service, repairs or maintenance, it\u2019s an opportunity to check the property for the list of routine points you\u2019ve prepared beforehand. Hopefully, your property will pass all these inspections easily, but in any event, it\u2019s important to know beforehand what needs to be checked.<\/li>\n
\n<\/b>This is a must at the time of lease-signing, but six months down the road, you may also need to remind tenants that the time is coming up. Of course, if your furnace and water heater are accessible from outside the rental unit, it\u2019s that much better, but you\u2019ll then miss the chance to check smoke detectors, and other points of service. If they\u2019re inside the unit, you\u2019ll need to let the tenants know you\u2019re coming and why.<\/li>\n
\n<\/b>Don\u2019t get the idea from this article that you can get away with checking the furnace and the water heater once a year. Interior checklists, usually for between tenants, can \u2013 and should \u2013 run to 40 items. Here\u2019s a good example<\/a>. \u00a0From guardrails and handrails to bathroom windows and the quality of the caulking, a thorough inspection will include all of these things. Then, you should have a good checklist for the exterior of the building too. This can run to another 40 points, and ideally, should be performed annually, with or without tenants.<\/li>\n
\n<\/b>This is one of the biggest disadvantages that smaller investors face. They simply don\u2019t have the scale to maintain relationships with all the possible \u2013 and reasonably priced \u2013 contractors working the market. It\u2019s one good reason to work with a property manager. (They\u2019ll maintain those relationships for you!) But if you are going it alone, it\u2019s important to do your research, and work with reputable contractors who will help out with visual inspections while they\u2019re there.<\/li>\n
\n<\/b>Now obviously there are extreme cases of neglect or simple vandalism, but for parents of anyone but the rowdiest of teens, you\u2019re usually better off working with tenants to find solutions so that further damages are prevented. Understanding the problems faced by normally good tenants is usually a lot more cost-effective than a long and expensive eviction process.<\/li>\n<\/ol>\n