Maximizing your return on your SFR investment requires keeping costs in check; and needing to replace appliances and other systems prematurely can put a dent in your bottom line. To help reduce these types of expenses in your rental homes, you can take proactive steps to keep them in top condition and extend their life expectancy.
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Replacing appliances prematurely, whether they are large or small, can have a significant impact on your profits. In order to maximize your return on investment for your single-family rental (SFR), it is crucial to keep costs under control. Take proactive steps to keep these appliances and systems in top condition to extend their life expectancy and reduce the added expense of replacement in your rental homes:
Your heating, ventilation and air conditioning (HVAC) system should be checked quarterly (or at least semi-annually) to confirm elements like capacitors and relays are working properly and to ensure your voltage levels are correct.
A/C: The beginning of heating season is a good time to have your cooling system checked to ensure it has the right amount of freon and that it’s charged properly. Then, in the spring, you’ll want to have an HVAC professional on site to blow out the air conditioner’s condensate line to keep it flowing freely. This can be especially important in parts of the country where cottonwood trees are plentiful, as cottonwood can stick to your condenser and block air flow. You’ll want to repeat this in the fall right before it starts to get cold.
Furnace: Heading into the cooling season, you’ll want to schedule your furnace checks. For a gas furnace, this means ensuring all of its sensors and pilots are working. Plus, be sure to turn the gas off when you don't need it in the summer to prevent a possible leak. Changing furnace filters quarterly helps extend the life of your unit by allowing air to flow freely through the system. Filter checks and changes also help you gauge how much dirt is getting into the home. The quicker the filter gets dirty, the more dust there is in the air, indicating you want to schedule more frequent filter changes to help keep the system running better.
Related: A/C Maintenance 101: A Checklist for Your Single-Family Rentals
A typical hot water tank can last 8-12 years, but some can last up to 20 years depending on the quality of your water and how well you maintain the water heater. A property services partner can help by draining and flushing your tank with hot water at least annually to keep sediment from settling at the bottom and building up in your tank over time. They also will check your temperature dial to make sure it’s at the recommended setting (not too high or low), check the heating element to determine if a replacement is needed, and ensure that if you have an expansion tank, it’s bled off so it can continue to work in capturing any overflow.
Sump pumps help prevent flooding at your property by removing water from its lowest point. The check valve on your sump pump’s riser shuts so water can’t flow back down into the pit, but sometimes the valve can get stuck. So you’ll want an expert to confirm that it’s functioning properly, along with your float, which can also get stuck in a position that keeps the pump running constantly, burning out your motor.
If your SFR property has a reverse osmosis system to filter water or a water softener (or both), these systems require regular maintenance to function effectively and reduce the risk of an early replacement. For an RO system, this involves replacing filters as needed based on the type of system you have and sanitizing your system at least once a year. Water softener systems require regularly adding salt, draining and cleaning the tank to remove calcium buildup.
Removing and cleaning your oven range hood filter, the metal filter located above your stove (or ensuring that renters do it), gets rid of the accumulated grease. Removing this buildup keeps the exhaust clear and helps reduce fire risk.
Consider offering a simple tip to renters: Grinding up a few ice cubes and half a lemon in your disposal is an easy way to keep it clean and smelling fresh at the same time. A win-win!
Because food debris can cause a clog, you’ll want to check your SFR property’s dishwasher filter during routine maintenance checks to ensure it’s clear and to clean it as needed. This may be something renters will do, but it’s worth checking to confirm so that your machine stays in top shape for longer.
Schedule an annual cleaning of your dryer vent line, and if your SFR property has a front-loading washer, there's a drain on the front for the excess water that should be emptied once a year as well.
Smoke and carbon monoxide detectors should be tested twice a year and have their batteries changed. You or your property services provider should note the date of this check and change so it can be easily tracked.
For gas fireplaces, make sure the pilot light is turned off in the spring to reduce fire risk. Then, schedule a check in the fall before it will be used again to confirm the chimney is clear of any bird nests or other debris.
Keeping track of the maintenance requirements for your SFR’s major appliances and systems and completing checks and related repairs as needed will ensure you get the maximum value out of them and your overall SFR investment.
A trusted property services provider can help you track and maintain these items, ensuring they’ll stay in working order with less work and worry on your part. If you’re looking for a property services provider who can help, contact MCS at Jason Myers or Kerry Anderson to learn how we can partner with you on your SFR maintenance needs.