Did you know the property management industry will stand at $21.4 billion by 2025? Good property management involves scheduling maintenance checks for optimum performance of all assets.
It's essential to have a property maintenance checklist to accomplish this. This document covers all assets that require maintenance.
A proper property management checklist increases the functionality of your property and reduces the chances of interruption of services in case of a breakdown.
Below we discuss how you can create an effective maintenance schedule that will keep your property in its best state.
List Down the Tasks at Hand
Planning is the key to having an effective schedule. Scheduling regular checks guarantee timely execution of all issues and complaints.
Create a list of the tasks to be completed to ensure none of the services is left out. You can walk around your property writing down tasks that may need servicing. Depending on the magnitude of the work, you can do it yourself or hire a property maintenance company.
Did you know that about 87% of properties outsource their maintenance work? These property maintenance companies offer electrical, plumbing, and landscaping services. They can also market your property and handle tenant screening.
Prioritize the Tasks
A good manager ensures they deliver their tenants the best property maintenance services. It's vital to prioritize risks that may affect the safety of the property residents.
This may include:
- Elevator functionality
- Electrical and plumbing facilities
- Roof integrity
- Emergency services
Budget for the Activities
Homeowners should pay at least 1% of their home value annually to cater for property maintenance. This creates a cash reserve that you can use in case of emergency repairs.
When creating a maintenance checklist, it’s crucial to indicate the cost of materials and labor required. This comes in handy when planning your budget. Additionally, the checklists help in requesting tenders and quotes from different contractors.
For future reference, include the actual cost vs. the estimate of the projects. You can also indicate the name and contact details of the contractors.
If you are working with a flexible budget, you can upgrade some of the services on your property. These renovations guarantee an increase in the value of your property.
Scheduling Maintenance Checks
Once you have a list of all the tasks, you can decide on the sequence of activities. Depending on the task at hand, you can choose to work on a monthly or seasonal basis. It’s advisable to mark your calendar to remember these dates.
You can also invest in property maintenance software. The software helps in managing financial and maintenance operations. It also allows managers to timely assign property maintenance jobs.
Having a property maintenance checklist keeps you organized all year long. It helps you plan and schedule routine maintenance and repairs around your property.
The above guide will help you create a maintenance checklist that you can use to manage your property successfully.
Get in touch with us today, and let us help you effectively maintain your property.