Many of our owners ask us what they can do to lower their maintenance costs. Since we deal with property management in Grand Rapids everyday, Simple Property Management knows how to lower maintenance costs. There are a couple things that we strongly suggest doing. Some work on only single family homes, and some will save money on all types of investment properties!
- Garbage Disposal- These may be nice to have in your rental property, but they can cost hundreds in maintenance costs if/when they break down. Garbage disposal’s generally do not raise the rent for the property, and if someone has not used one before, they can easily clog the drain pipe.
- Sink Sprayer- Sink sprayers break all the time- take them off to save money.
- Faucets- Buy a more known and better quality faucet that you can be rebuilt if/when it breaks. Keep a spreadsheet of the model number for all of your properties so that you can easily it parts.
- Ceiling Fans- Some tenants really like ceiling fans, but we’ve never had one that DIDN’T rent because it didn’t have a ceiling fan. Over time, they break and cost money. Stick with a normal light.
- Paint- Choose a couple normal colors for your rentals and stick with those colors. When the property turns over, you can then more easily and cost effectively paint. This allows you to turn the property faster which makes you more money!
- Snow Plowing- Since Grand Rapids can get a lot of snow, on a single family home do not include snow plowing. It costs you money and the liability is on you if someone slips and falls.
If you would like a free rental assessment, contact us today!