Preserving your Investment Through Preventive Maintenance

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Certainly, one of the most challenging aspects of owning property is the string of maintenance issues that add up over time and creates a major dent in your budget. In order to ensure that your investment doesn’t become a major expense in terms of maintenance, your objective must be to resolve minor issues before it develops into major repairs that would cost more.

Thus, conducting and investing in regular preventative maintenance will benefit you in the long run.

Preservation of property can be obtained by applying safety checks, cleaning, and repairing condominium, houses or buildings and preventative maintenance allows you to minimize the risk of a tremendous issue and to maximize the property investment.Here is a useful checklist to plan out your own regular preventive maintenance routine:

Preventative Maintenance Checklist

  • Heating and Cooling Systems – HVAC (Heating, Ventilation, and Air conditioning) system has the potential to incur the greater costs for maintenance. The basic practice is to clean the air filters in your air conditioner and heater at least twice per year but ideally,every three months. When filters are clogged and dirty, your systems have to be compelled to work harder and therefore has a greater chance for major damage. Regularly cleaning the filters provides a decent break for the units.

  • Leaks and Water Damage - Water is probably the most common problem that can start very small and end up doing a ton of damage.During walk-throughsstart by checking to seeif all water sources are working and to make sure there are no leaks.The faucets and toilets should be working properly with no water drips or leaks. You should also check at ceilings and walls for any signs of water damage. Knowing everything is sealed will create peace of mind as you work through the checklist.

  • Pest ControlAt least every month, we should check that there are no pest issues like bugs, cockroaches, ants and bedbugs that are building up and threatening to grow. Keeping up the cleanliness and sanitation decreases pest infestation significantly, but regular pest control is required for adequate desired results.

  • Grease Trap- Cleaning schedule for grease traps is ever1 to 3 months.Grease trap that has been filled with fats, oils, grease, and solids within the receptacles can restrict the drainage of water and will eventually clog the lines. If that happens, it is time for a pump out. This is why it is important to limit the amount of grease entering the grease traps by following proper disposal of dirt.Regularly checking of the traps is a must to prevent a clog and leak.

  • Water Heater -Water heater is another expensive piece that is used every day and tend to collect sediments and the water can get dirty over time.A good practice is to flush the water heater twice per year to keep the water clean and everything running smoothly. A water heater typically lasts between 8 and 12 years, if it is maintained properly.

  • Check Smoke and Carbon Monoxide Detectors – Please check the batteries in your alarms every six months.Test your detectors on a monthly basis and replace batteries once a year or depending on the battery’s life spanKindly do a quick check and make sure they are working properly for your own safety and security.

Communicate with the Tenant

A good strategy is to schedule the preventative maintenance even while a tenant is living in the property.This can also be a good chance to observe how they are using the property that could lead to maintenance issuesThe benefit of doing it while the tenant is there is you can get feedback, comment or suggestions which you can use for future reference.

Most importantly, the maintenance process allows you to demonstrate and express the care you have for the property and how to value it. Kindly make sure to schedule well in advance and set proper expectations so there are no surprises. Also, communicate everything you did when it is all finished so they can have the peace of mind knowing you have paid attention to all the key details on the property.

Colliers View

When things appear to be running smoothlyall the more is it important to keep on top of your properties and have a regular preventive maintenance schedule.This can feel unnecessary at times but  always remember that it is well worth the effort.If it’s really something that’s inconvenient and takes a big chunk of your time and effort, outsourcing to teams that offer Residential Asset Management Servicesis always an optionAgain, in the long run, getting ahead of future major maintenance costs by allocating a portion of your budget for regular preventive maintenance will help you get more out of your investment.


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Gigi Limguangco

Associate Director

Manila

Prior to joining Colliers, I have worked for CB Richard Ellis Phils. Inc as an Assistant Marketing Manager for Residential Services in 2005. In 2002, I was the Relocation Services Coordinator for Santa Fe Moving and Relocations in Manila. I also worked in Rockwell Land Corporation doing leasing and sales in year 2000.
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