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Factoring in the cost of property maintenance is important to the overall health of your San Diego investment property portfolio. If you are new to property management, you may be curious about how to prepare. So, let us discuss some of those potential costs!
Routine maintenance costs include regular landscaping, HVAC system tune-ups, and plumbing checks. Plan to incur these costs regularly to keep your property in tip-top condition. Staying on top of maintenance also helps to improve your relationship with tenants.
When selecting vendors, consider both the cost and quality of their work to ensure the best value for your money.
In addition to routine maintenance, San Diego property owners should also prepare for emergency maintenance costs. Address unexpected repairs immediately to prevent further damage or danger. Emergency maintenance costs can include items such as roof leaks, burst pipes, and broken windows. While it’s impossible to predict when these types of emergencies will arise, set aside funds to cover these costs when they do.
Capital expenditures are expenses necessary to maintain or improve the overall value of your property. These expenses include replacing a roof, upgrading an HVAC system, or renovating a property. While these costs can be expensive, they are typically spaced out over several years and planned for in advance.
Finally, San Diego property owners should also consider property management fees. While these fees may seem like an additional expense, they can often save property owners money in the long run by ensuring that maintenance tasks are completed properly and promptly.
If you have any questions about property maintenance costs or would like assistance with property management, please don’t hesitate to contact us! You can reach us at 760-994-5037 or complete our management form today.