According to a recent report, Alabama's rental vacancy rate is 9.3%, the fourth-highest in the country.
As a landlord in Lafayette, AL, that news could make you worry. However, there are ways to prevent your property from having high vacancy rates. One is to conduct regular property maintenance and repairs.
To that end, we created this guide discussing property upkeep and repairs and their importance. So read on, as what you learn here can help maximize your rental income.
Importance of Property Maintenance and Repairs
Commercial building maintenance and repairs are legal landlord obligations. By performing these tasks, landlords can comply with building or housing codes.
Suppose you own a multi-family property classified as commercial. You must ensure it's safe and habitable for your tenants. Because if it's not, your renters can file complaints against you for violating Louisiana's housing codes.
Commercial property upkeep and repairs also help retain or improve your property's values. That lets you charge reasonable and fair rental rates. Conversely, you may have to lower your rates if your property is in disrepair due to a lack of upkeep.
Last but not least, ensuring your property is in top condition is one of the most effective ways to get tenants to renew leases. After all, they'll be happy to live or stay in a well-maintained building that won't risk their health and safety. That boosts tenant satisfaction, encouraging them to stay longer.
Necessary Maintenance and Repair Tasks
You should schedule regular maintenance for your property's roofing, plumbing, and HVAC systems. Issues affecting these systems (e.g., leaks) can lead to poor indoor air quality (IAQ). Exposure to poor IAQ can affect your tenants' health, putting them at risk of lung and heart problems.
You should also have your property's electrical system inspected and tuned up yearly. It can help keep your system from causing fires and injuries, such as shocks and burns.
Other vital items to keep in mind are:
- Structural components like the walls, floors, and ceilings
- Windows and doors
- Lawn and landscaping
For the best results, hire only qualified providers of maintenance and repair services in Lafayette, LA. Check their qualifications, permits, insurance, and licenses.
You should also consider working with a full-service Lafayette property management company. They work with qualified, vetted building contractors and oversee property maintenance and repairs. With their services and help, you can keep your property in top condition without doing the work yourself.
Partner With PMI Integrity Properties
Property maintenance and repairs are more than legal landlord obligations. They can help keep your property safe, habitable, and valuable. As a result, you'll have satisfied tenants who'll be happy to renew their lease.
Our full-service property management company, PMI Integrity Properties, is ready to help you with all those tasks and more. We specialize in property maintenance, tenant screening, rent collection, accounting, and reporting. We're also proud to be part of PMI, a national franchise that has provided real estate asset management solutions for over 20 years.
So, if you're ready to delegate the maintenance of your Lafayette properties to the pros, call us today! We'll be happy to discuss how we can expertly manage your assets.
