When you own a Chicago rental property, you’re required to maintain it. Responding to routine and emergency maintenance requests from your tenants is one of your responsibilities, and hopefully you take it seriously.
Preventative maintenance is also important. It helps you protect the condition and value of your investment, and it also keeps your long term repair costs down. We’ve been managing rental properties for a long time, and one thing we’ve noticed is that repair work never gets cheaper or easier with time.
Make sure you have a preventative maintenance plan in place. Here are some tips to make it work for your investments.
Heating and Cooling Systems Need Service
The weather in Chicago can get pretty intense. With high winds, freezing winters, and humid summers, your rental property’s heating and cooling system will certainly work hard all year long. This is one of the most expensive systems in your home, so you want to make sure it’s running as efficiently and effectively as it can. Preventative maintenance is critical. Have a technician come out to your property twice a year, between each season, to inspect and clean the HVAC. This will ensure that any problems are detected early. You’ll know your tenants are unlikely to complain about their air conditioning not working in the middle of July.
Inspect Your Plumbing System and Watch for Water
Plumbing can also add up to major expenses if you’re not paying attention. Inspect your water heater at least once a year. Test the pressure relief valve, and look for any evidence of rust or corrosion. Check for leaks and look at the intake screen. You should flush the water tank once a year to protect against having it leak or explode in the middle of the night. Tenants tend to call when they don’t have hot water.
Pay attention to even minor leaks and look for standing water or lack of drainage. Clean out the gutters twice a year, and make sure they are pointing away from the property so there’s no chance of water getting inside and causing mold. Clear any branches, dirt, leaves, or grass off your roof. Look at ceilings and walls for water stains, which could indicate you have a leak somewhere in your building.
Schedule Seasonal Maintenance Issues
Cleaning the furnace, inspecting the roof and the gutters, looking for leaks, and winterizing your property should all be part of your seasonal and preventative maintenance plans. Taking care of these things once or twice a year will ensure you don’t suddenly have to make major and expensive repairs.
Emergencies are always going to be possible, no matter how well you maintain your investment property. There’s often going to be a water heater that explodes in the middle of the weekend or a tree that falls through a window. But, if you can ensure qualified technicians are regularly inspecting and servicing your rental property and its functions, you won’t have a large number of those emergencies.
Preventative maintenance allows you to be proactive instead of reactive, and we make it a big part of our Chicago property management plans. If you have any questions or need any help, please contact us at Medallion Property Management.