Renter-occupied homes make up just 35% of Georgia's housing.
If you're a property owner in Riverdale, this should concern you. With fewer renters, there's more competition between landlords to find good tenants. It's so important to get good tenants in your rentals, but just as important to keep them happy when you find one.
One of the ways to boost tenant retention is to stay on top of regular property maintenance. Rental properties go through an inordinate amount of wear and tear, which can affect both your property value and your tenant's happiness.
Today, we'll tell you exactly why you should invest in regular maintenance and how to do so. Keep reading and you'll know how to protect your property while ensuring it remains a valuable investment.
Protect the Long Term Value of Your Property
As mentioned, rentals experience more wear and tear than the average home. Even if you exclusively deal with great tenants, your home will become well-worn if you don't care for it. When you have a bad tenant, they can actively damage your property.
Staying on top of regular maintenance will mitigate the damage - however unintentional it may be - that your tenants cause. This will help to keep your property value higher over the long term, which is one of the main perks of investing in rental property.
Attract the Best Tenants
If you list a vacant rental property that looks neglected, you're going to have trouble finding good tenants. Most qualified renters are looking for a place they can call home, not something that's going to be more trouble than it's worth.
Taking the time to care for your home will pay huge dividends. A home that looks great and functions well is one that renters will always be interested in.
Keeping Tenant Retention High
Finding good tenants requires thorough tenant screening. Once you get a great one in your rental, it's up to you to do the work to retain them. Regular maintenance on the most important aspects of the home - HVAC, plumbing, electrical, roofing, etc. - will ensure the home doesn't cause issues for your tenant.
Tenant retention depends on many things, but a well-maintained property never hurts. Happy tenants result in fewer vacancies, which is every rental property owner's worst nightmare.
Legal Compliance
What you may not realize is that your home is legally obligated to meet certain safety and livability standards. When you neglect maintenance, you could violate any number of safety and building codes. In the worst scenarios, you could face fines or even legal charges from angry tenants.
If you can't keep up with routine maintenance to ensure your home is livable, it's best to hire a Riverdale property manager to help.
Get Help With Property Maintenance in Riverdale, GA
Owning a rental home is often presented as a way to make passive income, but it's a lot of work. Hiring Riverdale property management to help you handle important things like property maintenance can make things a lot easier when you're looking for passive income.
At PMI South Atlanta, we offer the best property management services in Riverdale. To learn how we can help you deal with maintenance, contact us today.
