Filed under: Property Management | Tags: Chris Hermanski, Home Maintenance, Portland OR, Property Management, property management services, rental property maintenance, rentals, tenants
The Annual Mainlander Property Management Vendor Appreciation Luncheon was held on Thursday, February 17th. It was another huge success! The festivities took place at Mainlander’s office in Lake Oswego and was attended by over 45 vendors. 
They came from all over to enjoy some great food that was either prepared by a Mainlander staff member or brought in from local restaurants like Busters BBQ! Many even found room to enjoy a piece of the giant Tres Leche cake for dessert!
The food, conversation and networking opportunities were much appreciated by all. Over the course of the lunch, everyone had a chance to relax, enjoy conversation and network with each other while the Mainlander staff gave out exciting door prizes to some very lucky winners.
Some prizes and winners included a Portland City Grill Gift Certificate to Willamette Spa, a Nel Centro Restaurant Certificate to Pro Drain, a 2 night stay at Hotel Modera in Portland to Coho Electric and a 1 night stay at Hotel Andra in Seattle to Norm Jensen!!!
Mainlander Property Management appreciates their vendors and looks forward to this event each and every year. It’s a time to give back and say thank you for all the hard work that is put into by these individuals to help make Mainlander the great property management company it has grown to be!
Filed under: Home Repairs, Home Warranty Programs, Property Management, rentals | Tags: Property Management, rental property maintenance
Home maintenance is an important and complex issue for owners of rental properties!
Your home, like your vehicles, requires regular maintenance to keep the home in good repair and running efficiently. Unexpected repairs, unfortunately, leave you feeling frustrated in both the timing and the cost. Repairs reduce your anticipated rental income and, of course, the timing is never right.
Owner obligations
You have an obligation to your tenants, however, to keep the property in good repair; just as you have an expectation for your tenants to care for your house which is currently their home. As the owner, you must complete maintenance issues in a timely manner.
Our owners find it helpful to both anticipate maintenance needs and remember the benefits of keeping up their property. At some point in time you may decide that you want to sell the home; without proper maintenance, during the rental period, you can end up with even larger costs prior to selling and delay your ability to sell the home on your timeline.
Do not put off regular maintenance
Regular maintenance keeps your property in good shape and preserves its value. It can be tempting to defer repair issues to save on costs; however, this can lead to other problems: tenant complaints, legal issues, etc.
Where an owner living in their own home might be able or willing to put off a repair until a more convenient time, renters expect repairs to be completed in a reasonable amount of time. Deferring repairs can also lead to the issues becoming bigger and more expensive problems to fix; as well as making the property, as a whole, look less attractive to potential renters or buyers. Regular maintenance to your roof, furnace, etc. is a really good idea – it can extend the lives of these items, prevent some expensive problems, and diagnose other problems early; before they become an emergency, or worse, an ‘after hours’ emergency!
Proper maintenance attracts quality renters
Properly maintaining your home also helps attract quality renters. Most well-qualified renters will choose a property that is tidy and in good shape throughout. Tenants also reflect the owners’ attitude towards the property. If an owner is conscientious in maintaining the property; the tenants in turn will tend to respect and maintain it better. In contrast, if a property is falling into disrepair, tenants will tend to take less care to preserve the home, and may be slower to report problems.
Budget for repairs; do not let the expense be a surprise
As a landlord, it is a good idea to budget for maintenance. This reduces the stress when the need for repairs arises. We recently calculated that, on average, our clients who own single family homes spend about 8% of their annual rent on repairs. Condo owners spend about 3% of annual rent in repairs. Condo owners also may pay homeowner dues that partially go towards some building repairs.
Costs will vary from year to year for each property and the above are averages to use for planning. Your roof, paint, flooring, furnace, appliances, etc., all have a finite life span. When any of these large items need to be replaced, maintenance costs may be higher. On the other hand, there may be years when no repairs outside of routine preventative maintenance are needed. The best way to save you from anxiety is to invest in preventative maintenance, and plan ahead for those “surprise” repair costs when they arise and undoubtedly they will.
If you have questions please comment and a member of our staff will be happy to respond.
