Benefits of Proactive Maintenance for Your Oklahoma City Rental
Proactive maintenance for your Oklahoma City Rental property means staying ahead of the maintenance schedule instead of waiting for something to go wrong. It looks to monitor the causes of property breakdowns and correct them before they become big.
There are many benefits that you as a landlord stand to gain when you take a proactive approach to maintain your rental home.
Tax breaks
You can gain tax breaks for capital investment if you replace various aspects of exterior such as the roof, siding, windows, foundation repair, fence, retaining wall and sprinkler systems. Making these capital improvements in advance allows you to take advantage of tax breaks by depreciating the cost over a number of years.
Long-term saving on maintenance costs
Taking a proactive approach to rental property maintenance can help you cut down maintenance costs in the long-term. For instance, performing regular, routine foundation maintenance like diverting the drainage away from the perimeter will cost much less than repairing the foundation in its entirety.
Increase in property value
Proactive maintenance is essential to preserving the value of your rental home- without it, your home could lose 10% of its value. A routine maintenance program focused on improving property’s visual exterior elements such as the roof, siding, paint, windows, and landscaping can enhance the curb appeal of your home, allowing you to attract new residents or charge higher rents.
Proactive maintenance strategies
For homeowners, setting aside a cash reserve that’s used strictly for rental home repair and maintenance is the best way to get prepared. That way, routine upkeep is a snap and any significant replacements won’t blindside your budget. Again, take the initiative with regular inspections and follow the maintenance schedule faithfully. You can also keep track of all your maintenance and upgrades as a proof that repairs and replacements for systems such as wiring and plumbing were performed.