Tips for Multifamily Property Owners

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7 Tips For A Preventative Maintenance Approach For Your Rental Property

  1. 1.Develop your strategy and involve others in your action plan. Assign specific responsibilities, determine tasks, cover activities to completion, and set up a detailed record or reporting system.
  2. 2. Make sure actions are in line with your goals and objectives for the property. If you plan to unload your property soon. It may be time to consider some capital improvements.
  3. 3. Determine the tasks to be completed by your team and the functions that are part of the maintenance plan.
  4. 4. Know applicable safety codes and building codes and abide by them when accomplishing a preventative maintenance item.
  5. 5. Establish an open line of communication. Set and make expectations clear.
  6. 6. Review the property's activity regularly. Look for ways to improve at all times. Continuous improvement is a standard you should take with every operation piece of your rental property.
  7. 7. Incorporate new sustainable and innovative practices. With a long-term plan to ensure the longevity and sustainability of the property.

@Jorge Abreu Thanks for sharing this information! I agree that assigning specific responsibilities is essential. It helps to make sure you know who is accountable for what. That way, things get done, and when they don't, you know who to go to.