It is imperative that landlords keep on top of regular routine maintenance to maximise their potential returns and maintain their property’s value.
Proper maintenance and upkeep of a property is a legal obligation and is enforced under the Residential Tenancies Act 1986 and therefore requires careful consideration.
Buildings progressively deteriorate over time and will continue to deteriorate if maintenance is not carried out. Not addressing maintenance issues can affect the long term value of your investment and your returns.
Regular planned maintenance, such as minor repairs and preventative maintenance, should minimise future problems and ensure your property remains in peak condition.
While unexpected deterioration, damage or failures may still occur, and even with the best maintenance in the world, everything has a limited life expectancy, with a regular maintenance cycle you will minimise the need for major refurbishment and repairs.
Without regular maintenance a property can quickly deteriorate to an unacceptable condition, necessitating major repairs that could have been avoided. If left long enough a property can deteriorate to the point of being unusable which can translate to loss of income for you.
Systematic inspections are important in identifying any maintenance issues. If you’re using a property manager communication from them will be a key factor in the maintenance process. You need to know that your property manager will bring to your attention any immediate or urgent maintenance needs as well as informing you of any preventative maintenance that may be beneficial to the long term health of your property.
Fair wear and tear refers to the gradual deterioration of things that are used regularly in a property when people live in it. A tenant is not responsible for normal fair wear and tear to the property or any chattels provided by the landlord when they use them normally, however they are responsible for any intentional or careless damage.
You can claim back the costs for any repairs to the property or general maintenance. However, if you’re doing the work yourself you can only claim for materials and not your own time.
Here at Ray White we look at all maintenance issues objectively with the ultimate aim of:
Our staff are well versed in understanding the differences between fair wear and tear and property damage or neglect. This ensures the responsibility for any required repairs or maintenance are directed to the right person.
Our long standing relationships with a large number of reputable tradespeople allows our landlords access to competitive prices and a high quality of work – and in a timely manner when maintenance, and other work is needed.
Investment properties should make money for you. Not work.
Talk to us to find out more about our experience, services, and knowledge of the current property market to make your investment a real success.
Call us on 09 430 3300 for more information.