How Landlords Can Save Money

saving money

Completing regular property maintenance can save both time and money in the long run for landlords. From small repairs to fixing leaks, and more major maintenance like repairs on cracks in the foundation and even room renovations, all of these can enable a landlord to save a lot of money in the long run. Here are some ways for landlords to save money by doing these simple repairs and renovations:

  • Regular property checks for leaks and/or water damage. Make sure to check for leaks and damage after a big rain or snowstorm. Look at windows, showers, toilets, under sinks, and also the roof, walls, and ceilings. By checking regularly, you can avoid pricey repairs in the future since you’ll be repairing small leaks before they become a huge mess to fix.
  • Monthly exterminations. Most everyone hates seeing bugs in their home, so be sure to exterminate your units and property at least once monthly. Keeping up with killing bugs regularly will prevent a larger pest problem than if you just let it go, allowing a larger bug population to take up residence at your property.
  • Change and test all of your property’s smoke and carbon monoxide detectors. This not only saves money, but it can also potentially save lives. Always test the detectors to make sure they’re working properly, and install new ones if they don’t work. This saves money for the landlord by ensuring that a fire is detected before major damage occurs. This also ensures that your renters’ lives are not put in danger.
  • Clean or replace air filters. A simple $5 filter for a furnace or air conditioner can potentially save a landlord hundreds of dollars in repairs. Replacing a filter can prevent cleaning or repairing the furnace coils caused by the build-up of dust and other debris.
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