While property maintenance is not one of the core services you offer as a real estate agent, it is something you should not ignore completely. Knowing the basics of property maintenance can come in handy in many situations, such as:
- Explaining to the seller about the importance of a well-maintained property in relation to property value
- Assisting the buyer in solving any initial maintenance related issues
- Reassuring the buyer when zeroing in on a property that is genuinely good but just needs some routine maintenance
- Expanding and diversifying your own portfolio into property maintenance services
So, to serve your clients better and broaden your own horizons, here are some useful and actionable property maintenance tips to keep in mind:
Test Smoke and Carbon Monoxide Detectors Regularly
A carbon monoxide or a smoke detector that fails to go off in case of emergency could lead to major injury and damage. Moreover, the owner could also be held responsible in a court of law. So, make your clients aware of the importance of keeping these devices functional. Let them know that unwelcome issues can be prevented by replacing the batteries regularly, checking the wiring, and investing in new devices.
Keep a Check on Plumbing
Plumbing maintenance comprises more than just checking to see if the pipes have leaks or are suffering from corrosion. It also includes the upkeep of many major appliances used on a daily basis, which can undergo significant stress over a period of just one year. For example, the water heater is a part of regular plumbing maintenance, and water heaters must have yearly inspections and tune-ups to make sure they work efficiently and correctly.
Plumbing repairs can be costly and cause considerable inconvenience. If your client is a buyer, assist them in inspecting for all the plumbing issues, not just leaky pipes. Likewise, if your client is a property seller, make them aware that plumbing maintenance is a serious matter not to be overlooked if they want to increase their property’s value.
Double Check for Electrical Issues
According to the U.S. Fire Administration, electrical issues, including electrical, heating, appliance, and equipment malfunctions, are one of the top causes of fires in non-residential buildings, accounting for almost 19% of all reported fires in 2016.
An annual inspection performed by a professional electrician can ensure that the wiring, circuit breakers, and appliances are all in good working order. The importance of such an inspection goes without saying, but a simple walkthrough and test can thwart disaster down the road. You surely do not want your seller to get into legal trouble, neither do you want your buyer to purchase a hazardous property.
Ensure Paintwork and Polishing Upkeep
Your clients probably aren’t aware of how big an impact paintwork can have on the value of their property. Keeping both, the interior, as well as the exterior of the property in a top-notch condition requires regular coats of paint and polish.
It not only helps to extend the life of the property but also increases its curb appeal and marketability. Explaining this simple point to your client can help them get the most value out of their property and in turn boost your credibility.
Don’t Forget the HVAC System
The Heating, Ventilation, and Air Conditioning system, commonly referred to as the HVAC system, plays a crucial role in maintaining a property’s value. If not looked after properly, the HVAC system can cost a pretty penny.
On the flip side, however, a well-maintained HVAC system can ultimately lower utility bills, improve work efficiency, prevent safety issues, create a healthier indoor air quality (IAQ), reduce chances of a major break down, and prolong the lifespan of the system itself. All this adds up to an increased property value. Thus, in order to truly help your clients and earn their trust, shedding some light upon the significance of maintaining the HVAC system is something you might want to consider.
Conclusion
The tips mentioned in this post are all focused on preventive maintenance, as investing some time, money, and effort in maintaining a property is far more cost-effective than waiting for something to go wrong (likely to happen), and then act on minimizing the toll and damage.
Simply put: as with most things in life, it is better to be proactive than reactive when it comes to property maintenance. Being in the real estate business, it’s obviously in your best interest to keep the real estate in the best condition possible and help your clients get the most out of their deals.
