Summer Maintenance Checklist for Landlords

Summer Maintenance Checklist for Landlords

salt lake city property managers in Utah

Summer Maintenance Checklist for Landlords

As a landlord you know that two things can really affect how quickly vacancies rent and how long tenants stay. Those two things are curb appeal and your tenants overall happiness. Having a well kept property helps to take care of both of these. This is why it is always best to work with licensed property managers in Utah.

Keeping your rental properties in great shape starts with having a good seasonal maintenance schedule. This allows for inspection and upkeep of all necessary elements. Performing this kind of annual and semi annual maintenance will also save you money. It does this by preventing many unexpected maintenance concerns down the road.

Here is what a sample summer maintenance checklist should look like. (You can modify it to fit your specific rental properties):

Summer Rental Property Checklist

Exterior:

  • Clean the exterior of the home or building: A dirty building or one covered in graffiti will turn off prospective renters. So, make sure to pressure wash the home exterior every season. Remove any unsightly graffiti as soon as you notice it..
  • Service air conditioning units: At the beginning of each summer, have the air conditioning inspected and serviced. This will normally involve a thorough cleaning and a change of filters. This will save you a lot of money in emergency HVAC service calls later on.
  • Trim trees and shrubs: Being lackadaisical about landscaping can leave the backyard looking unsightly. Make sure that you trim trees, shrubs and bushes routinely throughout the summer. If you have trouble finding time for this, hire a landscaper.
  • Repair screen doors and window screens: Window screens become worn over time and tend to tear leaving an unsightly piece of screen flapping in the wind. Not only is it an eye sore, it leaves your property unprotected from bugs making a home indoors.
  • Clean decks and patios: Because they get a lot of use in the summertime, it’s a great idea to clean and reseal decks and patios before the season starts.
  • Inspect the condition of the home: Every year you should closely inspect the exterior of the home or building so that you will catch any problems early and be able to budget for future maintenance needs.

Interior:

  • Check appliances twice per year: Schedule service for appliances in need. It is far cheaper to have them serviced than it is to buy new ones.
  • Install air conditioners: If your properties use window air conditioners you should install the units early in summer. If you pay utilities for the rental it is important to remove the air conditioners in the fall and reinstall them each summer so that it is done properly. This will reduce your power bills and will also reduce the risk of damage to your property during tenant installation. Make sure to check for water damage every time you install or remove the window units.
  • Replace smoke detector and carbon monoxide batteries: Make sure this is done seasonally.
  • Inspect for signs of pests: Termites, bedbugs, cockroaches, mice and other pests can cause significant damage to your property and reputation. You should also make sure to have your properties exterminated seasonally.

Serve Notice

Outside of emergencies, Utah law requires that tenants be given at least 24 hours notice that you intend to enter the premises. If you have good rapport with your tenant, you may even want to verbally let them know a few days ahead of time.

If you are working with property managers in Utah, they will be able to serve the notice for you as well as handle your summer maintenance checklist.

Property Managers in Utah

If you are a landlord and you find yourself not familiar with all of the legalities pertaining to tenants and rental properties, it would be a good idea to hire a company that specializes in property management in Utah. Not only will they be able to handle your landlord responsibilities, they can advise you on tenant rights in Utah. A property management company can also provide your properties with property managers in Utah who can build relationships with your tenants and encourage them to report any maintenance issues they may have, saving you countless hours and dollars in emergency maintenance.

If you need a great company for property management in Utah, visit ASP Management online and let them show you what they can do for you!

How Rental Property Owners In Salt Lake Should Be Navigating During COVID-19

How Rental Property Owners In Salt Lake Should Be Navigating During COVID-19

The fallout from the pandemic has many landlords worried and needing property management assistance to navigate the unknown.

For well beyond a year the United States government has stopped residential evictions.

This solution has sent many landlords into their own crisis.

How Rental Property Owners In Salt Lake Should Be Navigating During COVID-19

More than 8 million households are now behind more than $5,000 in rent payments- and that number continues to grow.

Sadly, half of that rent is owed to small landlords, or those who own just one or a few properties.

In some cases the problem is further compounded when the tenants utilities are included in the lease.

In some cases, landlords are not making enough money in rental payments to pay the utility bills.

As a result, landlords are now having to pay them out of pocket.

A few landlords have gotten lucky and have tenants who can see that in the long term allowing their rent arrearages to build up will only leave them in a bad position.

In some cases, property management was able to keep open lines of communication with tenants and make payment arrangements.

This made sure that rent arrearages are at least being kept at bay. 

Good property managers have the skills to be part negotiator and part social worker as well.

During the pandemic, many property managers were able to step in and help residents get public or private assistance paying their rent.

In some cases property managers have even helped tenants to get jobs or find medical aid during this crisis. 

Property managers are highly trained professionals who take care of the daily running of your properties so you can spend your time on other pursuits.

As we move past the COVID-19 pandemic, there are a lot of services that a property manager can offer you. 

Collection of Rent and Arrearages 

Getting tenants to pay and pay on time is never easy, but after the pandemic it seems even harder.

Many tenants have not paid rent in months with very little communication.

A property rental company will be able to open lines of communication with tenants and get them back on track paying their rent. 

You can enlist a company for property management and in most cases they will be able to help you set up online payments.

This is just another easy way to encourage tenants to pay on time. 

Property Upkeep

Another sad aspect of the pandemic is some tenants feel that because they can live for free they don’t have to care for your property.

A property manager will be able to help you navigate this situation. 

If the manager is unable to correct the problem by negotiating with the tenant they will be able to document the situation so that the tenant will be held legally responsible for any damages. 

Eviction and Court Processes

At some point, likely sooner than later the federal eviction moratorium will end.

As a result, tenants will again be responsible for paying their rent in a timely fashion.

In many cases tenants will also be returning to work and will be hoping to pay their rental arrearages.

Unfortunately, in other cases tenants will have to be evicted.

Since property management is trained on legal documents regarding rentals, they can stand in for you in court.

However, property management is in no way legal counsel. 

Do I Need a Property Management Company?

Real estate is a great investment. However, it is important to understand that real estate in and of itself is anything but passive income. In order to generate passive income from a real estate investment it is crucial that you hire an effective property management company in Salt Lake City

Real Estate Investments as Passive Income

Real estate investments, especially any type of rental property, is not going to generate passive income without effective management. Trying to effectively manage a rental property is a full time job. Ineffective management can drain you of time and money. 

The solution is a great property management company. A property management company will handle the day to day running of your property so that you are free to invest your time elsewhere.

What Does a Property Management Company Do? 

A property management company will help you maximize your revenue. Your properties will be more fully occupied and your tenants will be happier. A good full service company should be able to:

  • Advertise property on multiple platforms.
  • Properly place tenants after thorough background checks.
  • Complete extensive move-in inspections.
  • Provide comprehensive leases.
  • Provide reports of monthly and year-end accounting that are easy to read and understand.
  • An online login for real-time information, maintenance requests and financial statements.
  • Full administration of your property.

Property Management Companies and HOAs

Home Owner Association (HOA) governed communities give residents many amenities and are very attractive to the home buyer. However, due to Covenants, Conditions and Restrictions (CC and Rs), administering these communities can become difficult for the governing board. Many HOAs find it helpful to hire a property management company to help them stay ahead of the game when trying to meet all of the necessary items for the CC and Rs as well as maintaining their monthly and annual budget. 

If your HOA is having trouble handling maintenance issues, homeowner disputes, or vacancies, it may be time to enlist the help of a professional property management team. Strong property management will have your HOA neighborhood desirable and back on top in no time! 

A Property Management Company Protects Your Interests

The most important reason that a property owner should hire a property management company is because it is the job of the company to protect your interests. It’s hard to be a property management guru all by yourself, and keeping your eyes on all the issues of multiple properties would be practically impossible. Effective management will provide tenants with support, help to better the building or community by renting to properly screen tenants and diminishing vacancies. 

The right property management company can fully administer your properties and allow you to invest in real estate as truly passive income. 

Having a property management company can also help to protect you from expensive legal entanglements because they can provide you with comprehensive leases and help to make sure that your properties meet all local and state guidelines, thereby avoiding fines and most legal issues. 

If you are interested in investing in rental properties or you have already made an investment consider hiring a professional management company to help you protect your interests and increase your profits. 

How To Hire A Great Property Manager

Most people who own any type of rental property, from commercial spaces to rental homes, find that hiring a property manager becomes necessary. Hiring the right manager for your property can be a make or break decision. 

What a Property Manager Does

A property manager usually handles the day to day running of a rental property. They collect and record rents as well as pursue delinquencies. They advertise vacancies and assure that all maintenance is in order before vacancies are rented. They provide both the tenant and the owner with a prompt and thorough move-in and move-out process and inspection. An effective property manager will be able to screen prospective tenants and place them upon signing a proper lease and documentation. While property managers do not generally handle maintenance concerns personally, they do oversee these types of issues to ensure that they are taken care of, and oftentimes it is the property manager who hires outside contractors for maintenance when that is necessary. 

How to Hire a Property Manager

Many property owners, especially those on a tight budget, may try to find a cheaper alternative than hiring a professional property manager. One commonly tried idea is the DIY method of property management. Many owners have tried this only to find themselves with angry tenants, empty units and leases that don’t even hold up in court. 

Another bad idea that is often tried is hiring a tenant either in an apartment complex or commercial building to be the property manager. This almost always fails because as a tenant they have a conflict of interest with being the property manager. More unscrupulous types of people may even abuse privileges and power when put into this position. 

You will want to hire a professional property manager that comes with a strong resume of proven, effective management and years of experience within the industry. Of course a thorough background check will be necessary and in many cases, the property manager may need to be bonded. 

It is important to note that depending on the size and type of property you own, you may need to hire a maintenance manager as well. Again, you will need to be very thorough in investigating the background and skills of anyone you consider for this position. 

Advantages of a Property Management Company 

A property management company provides you with great property management with no fuss. You will be able to choose exactly how much involvement you need from this kind of company. You may only feel like you need help with tenant placement or you may be in need of more comprehensive services. For those who need more comprehensive services,a property management company can alleviate the need to deal with doing background checks yourself, or personally take care of hiring individuals and trying to manage their performance. Property management companies can often even provide you with maintenance services or connections to contractors when needed. 

To streamline how your rental properties run, hire a professional property management company and get the most out of your investment.

Why You Should Treat Your Rental Property Like A Business

Managing your rental property may not be your primary job, but it is still a business and a source of extra income. It’s important to remain professional with your tenants, keep your finances intact, and perform a thorough tenant screening prior to renter move in.

In order to conduct good business, you need to comply with federal, state, and local laws. It’s important to make sure your business follows all necessary laws in order to maintain a positive reputation and avoid potential legal problems. Real estate and rental investments often come with regulations, so be sure to take the time to conduct research and understand all federal and state specific laws before plunging in.

It’s also important to protect yourself from potential accidents or liability claims: one way to do so is by purchasing landlord insurance. If an unfortunate situation arises, like a pipe bursts or theft occurs, landlord insurance can protect you from bearing the loss. This means you won’t have to pay thousands of dollars if a tenant should sue you.

Conducting good business also means preventing problems before they happen. The best way to avoid problems is to keep your unit and building in good condition.

Before renting to tenants, double check that your rental property is a safe place to live. It’s worthwhile to spend money to make sure everything is up-to-code and all utilities work. For example:

  • Test smoke and carbon monoxide detectors
  • Make sure all vents are free of buildup (debris, moisture, etc.)
  • Check internal and external pipes for combustion

Once you have tenants living in your unit, you should have a plan as to how you will fix dangerous problems immediately. For example, how will you fix the furnace if it breaks, or help a tenant who locks himself out? The best way to prepare for problems like these is to have a plumber, locksmith, and contractor on call.

Being professional, keeping your finances in mind, following your city and state’s laws, protecting yourself from liability, and preventing tenant problems are the best ways to manage a good rental property business.

How To Set The Right Rent Price

To set the right rent price, we recommend researching your market to learn what the fair market rent price is in your area. Pricing your rental at the rent price that makes sense in your location can mean the difference between vacancies and attracting good tenants so you can rent your property quickly. You can also use online applications such as Rentometer to help guide your rental rates.

As you set your rent price, you should keep in mind how it affects your financials. After all, rent payments are your main source of income on your rental property. To compare your rental income to your rental expenses, you should list your fixed and estimated expenses. Fixed expenses are your mortgage payment, property taxes, insurance fee, and HOA fees. Your variable expenses are utilities, repairs, and property improvements. By comparing income to expenses, it’s easier to see how rent price affects your monthly revenue.

There’s no point in setting the right rent price if you have tenants who don’t pay on time, which is why the next tip is critical.