At Copo, we prioritise long term property maintenance instead of only addressing issues when they become urgent. Rather than waiting for the roof to leak, the garden to become overgrown, or the window joinery to come loose, we plan for upgrades in advance. This approach guarantees that your property remains in top-notch condition, complies with all regulations, and offers a profitable return on investment. Our landlords and tenants reap the rewards of this effective strategy.
Are You Keeping On Top Of Things?
Maintenance and upkeep is an expected part of owning a property. It’s easy to sit back and wait until a fixture or chattel becomes a problem that needs urgent attention before upgrading it. But at that point, you’re faced with:
- An unknown amount of time needed to fix it — for example, tenants may be unprepared to not have a source of heating in the lounge for a period of time.
- An unplanned invoice — you may receive a quote to fix it, but it was an expense that you didn’t see coming.
- A dilemma about how many times to repair something before it should be replaced?
The alternative is to develop a long-term property maintenance plan that details the expected work needed over the next decade. As part of the Copo service, the team will visit your property and make a list of when specific parts of it may need to be upgraded or replaced. As an example, Wellington’s coastal exposure requires roof screw maintenance every 5-10 years. New carpet was laid down 6 years ago? That may need to be replaced in the next 4 years. The oven was installed 15 years ago? The exterior cladding was painted 10 years ago? It may soon need to be painted again. Have you budgeted for these costs?
Having a comprehensive plan for long term property maintenance will provide you with an assessment of necessary tasks, their timing, and potential expenses. It is crucial to bear in mind that this goes beyond simply fixing issues; it is about preserving your property’s optimal state to guarantee a profitable return on investment.
A property that has undergone gradual renovations over time will yield higher rental income compared to one that has not, as tenants prefer residing in a place that exudes the ambience and comfort of a true home.
Do you know who lives in your area?
Its demographic can significantly impact your long term property maintenance plan. The Copo team have been in the industry for well over a decade and are all too familiar with Wellington’s array of suburbs. We know what kind of people your property will attract — their age, occupation, lifestyle, wants and needs. For example, turning an unused nook space into a desk area is attractive to working professionals. It’s all about coming up with a plan of action that will make your property desirable to tenants and then slowly ticking things off over time.
How Can We Help?
When you partner with Copo, we make sure that your property reaches its full potential so that both you and your tenants can benefit from it. Armed with pen and paper in hand, our team would love to assess how your property can reap the returns it deserves over time. Though without the unplanned costs of emergency maintenance. Long term property maintenance is the best approach.
Contact a Copo property manager today to discuss how we can partner with you.