Protecting your single-family rental (“SFR”) property investment is a top priority, but it’s just as critical to stay on budget. Start the year off right with a plan in place to save money on property services for your single-family rentals—without sacrificing quality or tenant satisfaction. From simple fixes to longer-term strategies, we’ve got you covered with these six money-saving ideas.
1. Schedule regular air filter changes.
Dirty, clogged filters can damage your HVAC system, leading to costly repairs or even replacement. Don’t rely on tenants for this task; schedule regular air filter changes with a property services partner like MCS to ensure efficiency and avoid related issues or repairs. This type of service provides the added benefit of having a trained service technician in your assets to assist renters with any other maintenance issues, as well a visual check on the overall property condition.
2. Build a database of your assets.
Having a detailed record of your assets—including make/model, service dates and related details—can help you perform proactive maintenance and avoid costly repairs through the use of predictive analytics.
3. Don’t neglect roofs and gutters.
Avoid standing water, leaf and debris clogging, and other problems that could lead to expensive repairs by scheduling regular gutter and roof maintenance with your property services provider.
4. Perform consistent plumbing maintenance.
Don’t wait for an emergency call from your tenants. Having a property services partner conduct regular plumbing maintenance, like cleaning drains to prevent backups, can help avoid costly repairs and the fees associated with emergency calls.
5. Develop a preventive maintenance plan.
Use your asset database to help create proactive preventive maintenance plans that reduce or prevent potential repairs and extend the lifespan of your assets. You can also use the information to make decisions regarding capital-investment replacement and preventive maintenance schedules.
6. Watch your landscaping water usage.
Keep water use (and related expenses) down by performing regular inspections of your sprinklers/irrigation systems. If needed, you may also want to consider monitoring water use via smart water systems that can often provide remote monitoring and control.
Are you looking for a true partner to assist with your SFR investment property management and maintenance? Contact Jason Myers at MCS to learn more about how we can help you save money on maintaining your SFR portfolio through reliable and quality services that keep you and your tenants happy.
