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Budgeting for Rental Property Repairs: Don’t get caught Off Guard

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Your tenants expect their rental property to be in tip top shape. And, as a landlord, it is your duty to ensure that your tenants have a well-maintained residence. Because of this, you perform regular, preventative maintenance to keep the property looking nice and ensure everything is running properly. But what happens when something goes wrong? Are you ready to perform emergency repairs? Have you budgeted for something like that?

It is easy to budget for regular maintenance. But a good landlord will budget for the unexpected, as well, putting aside 10%-15% of monthly rent to go towards potentially costly repairs. Oftentimes, however, landlords don’t bother saving for these emergency situations.

So how can you ensure that you have enough money stored away for a rainy day? Well, Auburn Rose Property Management can help!

No one said landlording was easily. Luckily, no one said you had to go it alone either. Auburn Rose offers several services to help you more effectively manage your rental properties, including:

  1. Bookkeeping: Auburn Rose does the paperwork chores for you. We keep complete, accurate records of every income and expense that affects your property.
  2. Maintenance, Renovations, and Repairs: The quality of your rental property is critical. After all, in real estate, curb appeal and image are everything!  Auburn Rose provides and oversees a crew of highly-qualified, reasonably-priced maintenance and landscaping professionals.

If you want to learn more about Property Management or if you have any questions, please contact Auburn Rose Property Management by calling (443) 928-2220 or visit our website today!

Auburn Rose offers professional, yet personal, property management services to realtors, owners and tenants in Maryland.

Your peace of mind is our business!

You can also follow Auburn Rose on FacebookTwitterLinkedIn, and Google+.

 


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