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23 Reasons For Maintaining Your Rental Property

Mendell Gosnell - Thursday, October 2, 2014

Maintaining Your Rental Property

Everyone seems to find time to maintain their personal property. It's usually a matter of pride because it's your home. Many property owners forget that your rental property is yours too. My thought was that perhaps property owners could use a reminder as to why maintaining your rental property is so important. So, here are 23 reasons for maintaining your rental property:

  1. Improves the curb appeal and keeps and attracts better tenants
  2. Increases ability to raise rents
  3. Increases ability raise resale price
  4. Preserves the asset
  5. Limits costlier damage
  6. Limits vacancy rate and keeps occupancy high
  7. Tenants stay longer
  8. Reduces potential liability (accidents, etc.)
  9. Improves tenant satisfaction
  10. Provides better control (it is much easier to lose control of junk properties)
  11. Enables easier financing for sales or refinancing
  12. Increases equity (better appraisals/values)
  13. Creates rapid net worth from appreciating buildings
  14. Repels deadbeats – bad buildings will attract them
  15. Makes you more proactive and less reactive
  16. Creates better relationships with community
  17. Lowers insurance rates
  18. Makes it easier to find insurance companies willing to insure you
  19. Reduces down time during vacancy
  20. Improves / maintains value of neighborhood (bad buildings bring down values)
  21. Saves time – prevention / maintenance is less work
  22. Tenants take better care of property when they see you taking care of the property
  23. Reduces likelihood of excuses when evicting bad tenants – the number one excuse of non-payment is “The landlord doesn’t fix anything”. Don’t even give them a chance!

At Centurion Real Estate Management, the maintenance of your property is our utmost concern. Call or email us today to start managing your property!

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