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How to Estimate Maintenance Costs for Your Rental Property

Property Management in San DiegoA rental property is an investment geared toward income potential. Aside from taxes, building use costs and insurance payments, there are many costs to consider when buying a rental property. At Harland Property Management, we are helping our clients enjoy the income benefits of their rental property hassle free. However, properly managing a rental property takes experience, industry knowledge and patience. Our expert managers will help you determine a budget, including planning for maintenance costs.

 

Below are basic instructions on how to estimate maintenance costs for a rental property.

  1. Consider the affects weather will have on a property. Factor in intensities of heat and cold (and thus insulation and ventilation) as well as how well the property is protected against natural disasters.
  2. Consult a professional rental company and have them order an inspection on the property. During the inspection it is important to determine the condition of the property and its present and future maintenance needs.
  3. Factor in landscaping costs. While a little greenery can enhance the value of a property, it can also entail maintenance costs and upkeep requirements.

Owning a rental property that generates a positive income flow takes extensive financial planning, regular maintenance and attention to daily operations. Whether you are planning on buying a real estate property for additional income or currently own a residential rental property and require assistance, contact Harland Property Management. Our expert managers are here to help make your investment a successful venture (858-367-0343).