Property Management Insights
Managing rental properties can be a profitable venture, but unexpected maintenance costs can quickly eat into your returns. The good news? With a little foresight and strategic planning, landlords can avoid many costly repairs by focusing on preventative maintenance. Here are five simple actions that can save you thousands in the long run. Note that maintenance costs are typically higher in Hawaii, so savings may be less. We are happy to recommend vetted vendors who offer great service and competitive pricing.
1. Regularly Inspect and Replace HVAC Filters
Why It’s Important: A clogged HVAC filter forces the system to work harder, leading to higher energy costs and increased wear and tear. Neglecting this simple task can eventually lead to costly repairs or even a full system replacement.
What to Do: Set reminders to check and replace HVAC filters every three months, or provide tenants with filters and instructions to do it themselves. A subscription service that delivers filters to the property can also make this process seamless.
Potential Savings: $150–$500 annually in repairs and up to $7,000 on a new system.
2. Flush the Water Heater Annually
Why It’s Important: Over time, sediment builds up in the bottom of water heaters, reducing efficiency and shortening their lifespan. Ignoring this maintenance task can result in skyrocketing energy bills or complete water heater failure.
What to Do: Drain a few gallons from the water heater every year to remove sediment. For those who prefer professional help, a plumber can handle this task for a minimal cost compared to replacing the unit.
Potential Savings: $500–$1,500 on premature water heater replacements.
3. Seal Gaps and Cracks Before They Become Bigger Issues
Why It’s Important: Small cracks in windows, doors, and walls may seem minor, but they can lead to drafts, water damage, and pest infestations if left unchecked.
What to Do: Use caulk, weather stripping, or foam sealant to close gaps. Inspect and address these areas annually, especially before winter or rainy seasons, with special attention to areas around plumbing and electrical penetrations.
Potential Savings: $300–$1,000 in energy costs and pest control fees annually.
4. Install Gutter Guards and Clean Gutters Regularly
Why It’s Important: Clogged gutters can lead to water pooling around the foundation, causing cracks, leaks, and even structural damage. Overflows can also ruin siding and landscaping.
What to Do: Install gutter guards to keep debris out and schedule regular gutter cleaning at least twice a year. This small, proactive measure prevents significant water damage and foundational issues.
Potential Savings: $1,000–$10,000 in foundation repairs and water damage restoration.
5. Test Smoke and Carbon Monoxide Detectors
Why It’s Important: Non-functioning smoke and CO detectors are not just dangerous—they can also result in liability for landlords if something goes wrong. Replacing dead batteries or faulty detectors is far less expensive than dealing with potential legal consequences.
What to Do: Test detectors every six months and replace batteries during inspections. Upgrading to 10-year sealed units can eliminate the need for frequent battery changes while enhancing safety.
Potential Savings: Avoid fines, lawsuits, and potential tenant turnover caused by safety concerns.
Bonus Tip: Create a Maintenance Calendar
To stay on top of these tasks, create a maintenance calendar or checklist. Share it with tenants if they’re responsible for minor upkeep, or use property management software to automate reminders for inspections and repairs. Download our maintenance checklist here.
Preventative maintenance isn’t just about avoiding headaches—it’s about protecting your investment and maximizing your rental property’s profitability. By implementing these five strategies, you’ll save thousands in repair costs and keep your tenants happy with a well-maintained home.
Would you like a customized maintenance checklist or guidance on implementing these strategies? Reach out—we’re here to help!
At Caron B Realty, our due diligence in tenant screening is second to none. That’s one of the benefits of having your rental portfolio professionally managed. To learn more about our full-service concierge management department, click here or contact Doug at (808) 596-4883 or dougdavis@caronb.com. Visit our YouTube channel to watch our property management series, Ask Doug! in which Doug answers common property management questions.
