Look after your investment with a maintenance schedule

16 Jul Look after your investment with a maintenance schedule

Property investment is not a set and forget option.  You must protect and enhance the capital gain of the investment by regularly attending to maintenance.  This doesn’t mean just fixing things when they break.  The astute investor will devise a maintenance schedule covering short, medium and long term jobs – items which need to be checked at least annually, those that need attention every 5 years and jobs that can be done once a decade.

Short term – check at least annually

• pool fence compliance
• smoke alarm check
• electrical safety switch check
• termite/pest inspection
• gutter/drainage cleaning
• air-conditioning service
• check of security items – window and door locks, screens etc.

Medium term – 3 to 5 years to inspect and possible replace or refurbish

• general building inspection
• tiling – regrouting especially in kitchen and bathrooms
• refurbishing garden beds – major prune of trees
• pressure wash pathways and driveways

Long term – 5 to 10 years; replace or refurbish

• floor coverings – especially in high traffic areas; consider replacing carpets with hard flooring
• internal painting
• window coverings
• refurbish kitchen ie. tap replacement, door and draw handle replacement it full refit not required
• external clean

10+ years

• replace built-in kitchen appliances
• replace shower screens
• external painting

Sudden repairs are often expensive repairs.  Preventative maintenance can save you money.  Also, keeping your property in good order will help to attract good tenants, will keep rent at an optimum level and maximise the capital gain.

Revisit these related Honest Broker posts:

Presenting your property to market

Carpets or tiles; curtains or blinds

What is fair wear and tear