Keeping Maintenance Costs Low
How to Keep Expenses in Check
Say Goodbye to Costly Repair Bills
I'm Losing Too Much Money!
Many landlords bleed money, month after month. By the time you pay for property management and maintenance bills, you could find yourself looking at a tiny profit...or worse, in the red.
We'll often hear clients tell us they can't keep their heads above water, but maintenance costs don't have to break the bank. Savvy clients can combat potential problems by developing a proactive approach to ongoing maintenance and repairs, while also creating a game plan for rainy days in the future.
Do you have a fund set aside for covering unforeseen expenses? Do you replace and repair features in your home before it becomes absolutely necessary? If you answer no to these questions, you're probably losing thousands of dollars in extra costs.
Start Saving NOW
Here's an unpleasant truth about owning a rental property in Atlanta: at one point or another, you'll be on the hook for expensive repairs and maintenance. Appliances break, plumbing fails, and pests attack. Don't find yourself scrambling to come up with the funds to cover these problems.
Instead of waiting for the worst case scenario to surprise you, start a savings fund you can invest into each month. When the time comes to cover an unforeseen cost, you won't be forced to borrow money or stick it all on a credit card, incurring interest and extra fees.
Steer Clear of the "Profit Center"
Think your property manager has your best interest in mind? You might be surprised to learn this isn't always the case. Many large property management firms treat maintenance and inspections as an opportunity to pad their bottom line and make a bit of extra cash.
Fortunately, it's easy to avoid this problem. Instead of choosing a property manager who hits you with hidden fees and charges, work with a small management firm you can trust.
At Haas Properties, we work with a trusted network of vendors who have proven themselves efficient and affordable. We obtain estimates on your behalf and get your approval on large expenses. We never profit off of your misfortune—that's a promise.
Take a Firm, Proactive Approach
Worried about the long term profitability of your home? Stop scrambling to pay maintenance bills and trying to find low cost patches to problems in your rental property. Instead, take a proactive approach that will protect your home's earning potential.
Don't wait until an oven breaks to think about replacing it. Don't let an outdated HVAC system collect dust. Work with your property manager to find areas of your home that can be upgraded or improved.
Proactive replacement of outdated appliances and voluntary upgrades will make your property more attractive to renters, resulting in higher rents.
Better yet, by making these investments today, you'll avoid the costly repair bills that all too often accompany properties with outdated features.
A warranty of habitability comes into effect the moment you and your tenant signs the lease agreement. That simply means that you agree to provide the tenant with a suitable place to live in.
You must legally do so because this responsibility is included in Georgia’s health, safety and structural codes. You are accountable to provide your tenants with functioning plumbing and electrical systems, as well as do everything possible to insure their overall safety in the property.
If a maintenance issue keeps cropping up and you are slow to address it, then the tenant will likely consider taking action.
One action they could take would be to move out. Another option they may decide to take is to “repair and deduct.” This would mean receiving less rents. None of these options would be favorable to your business.
Use the Tenant’s Security Deposi
While not required by law, most landlords in Georgia require tenants to provide a security deposit before signing the lease.
And rightfully so, the deposit acts as a cushion against property damage resulting from a tenant’s careless or negligent use of the property.
If a tenant causes damage exceeding normal and wear, you are within your rights to make the appropriate deductions from their security deposit.
Examples of excessive damage include missing door handles or locks, a hole in the middle of the door, a broken toilet seat, a shattered bathroom mirror.
Just make sure to document everything from the cost of the repair to how the work will be done. Of course, the more details you can document the better.
Know the Law
When a tenant calls you regarding a maintenance task, you cannot simply call and send someone else to go and fix the issue. In Georgia, and pretty much every other state, property codes usually dictate what actions the owner must take to satisfy the law.
Such actions include the right documentation and communication process. Sometimes, these property codes can even dictate what type of technician should be handling the task.
And should things get messy, you can’t use ignorance as your defence in court. Many judges in Georgia have a zero-tolerance approach to landlords who commit such infringements.
Now, besides taking up a lot of time, fighting a maintenance lawsuit can also be costly. Save yourself this strain on your resources by getting acquainted with Georgia’s rental laws.
Reduce Your Property’s Tenant Turnover
Once a tenant vacates your property, you have to make the property “rent ready” in anticipation of your next tenant. This involves a number of things. For one, you must address all safety and health issues that the previous tenant could have left behind.
Other things include making sure the home is clean, all appliances are functioning as they should, the yard is landscaped, and the electrical and plumbing systems are working properly. Sometimes you could also need to rekey the property.
You can reduce your property’s tenant turnover rate by ensuring that you’ve selected long-term, quality tenants to begin with. Another trick is to keep your existing tenants by making sure that they are happy with the rental unit and your management of it.
Trusted in Our Local Community
The Perfect Choice
"I have worked with Haas Properties for 8 years—John and his team treated me from the beginning as a partner and valued customer. I cannot say enough about the relationship and support I have received."
- Bob Hayward | Property Owner
We Could Not Be Happier
"Haas Properties does an outstanding job finding reliable tenants in a timely manner, taking care of the property maintenance, keeping our property in a top-notch condition and keeping in touch with us."
- Inna Edsall | Property Owner
A Recognized Leader
I Am Extremely Satisfied
"I continue to respect John's opinion and recommendations, and I rely on his honesty and integrity regarding my home. Knowing that Haas Properties is taking care of my home makes my life easier, especially living 1000 miles away!"
- J Nolen | Property Owner
Courteous and Professional
"My family and I have used the services of Haas Properties for nearly 5 years now and we couldn't be happier with our choice. John and his team really made it seamless for us and helped to ease our worries while living several hundred miles away."
- Tim Hardin | Property Owner
Ready to find out more?
Drop us a line today for a free quote or call us at (770)-928-4910.