Property managers and rental property owners have all heard it before, the most important thing to remember when you plan on investing in a property is Location, Location, Location. SJA Property Management, Bellevue Property Management recognizes that even though location is extremely important there are a few more things you will need to consider, and the one that gets overlooked often is: Maintenance.
The appearance and location of a property can be deceiving when looking to invest in a rental property. As you hunt for a rental property you should always look into the properties maintenance history to determine how the property was managed before. Such as, what has been repaired or replaced and what hasn’t? Then you will need to consider future incidental repairs, and future short-term and long-term repairs.
Short-term maintenance such as the furnace or the hot water heater can break down easily but are not easy or cheap to repair or replace. Long-term maintenance may include caring for the roof. Is it tile or is it asphalt shingles? If it is asphalt shingles the roof may last longer which will require less maintenance and be more cost efficient in the long run. Plumbing (i.e. copper pipes or galvanized pipes) is yet another aspect of the long-term maintenance that you will need to look at before purchasing your rental property.
Consulting with a local professional property management company such as SJA Property Management can help you determine the current rental value of the property and investigate its current condition. Contact us today to schedule an appointment.
The discussion herein is of a general nature only and is not to be construed as specific legal advice, which requires the establishment of an attorney-client relationship and fee agreement. SJA Property Management does not provide legal services.