Maintenance in Your Denver, CO Rental Property – How Much Money Do You Need?

Rental property maintenance in Denver, CO is the responsibility of the property owner, and you’ll need to budget for repairs and prevention. You want to keep your home in good condition so you’re able to retain tenants and preserve its value. Whether you own an older single family home or a modern condo, you will need to be prepared to spend money on its maintenance.

Preventative Maintenance

If you’re able to keep up with preventative maintenance items, you’ll save a lot of money on repairs. Regular inspections and system checks will keep everything running smoothly and alert you to small problems before they become large problems. Preventative maintenance items include changing the furnace filters, keeping up with your landscaping, and winterizing your sprinklers.

Tenant and Landlord Responsibilities

Never assume that your tenant is going to take care of the minor maintenance issues that you would expect them to handle. If you have a tenant who is good about changing the filters and reporting things like leaks and appliance issues, you probably won’t have to worry about what needs to be done. However, it’s always a good idea to keep up with what’s happening at your home. Keep an eye on things.

Planning for Expenses

When you’re budgeting for maintenance items, keep those major expenses in mind. When you need to replace a furnace, water heater, roof, siding, landscaping, or sprinklers, you’ll find those bills are larger than your other repair bills. Your furnace is especially in need of regular cleaning and service so you can be sure it lasts as long as possible. Work with a licensed HVAC contractor who knows how to keep a furnace running and can identify when you’ll need a new one. That will help you budget.

Colorado Habitability Laws

When your water heater or your furnace breaks, or the plumbing suddenly requires you to shut off the water, you’ll need to address those things immediately. Colorado law requires that your property is habitable for tenants, and being without heat or water is problematic. Treat these things as emergencies, and get them fixed right way.

As long as you pay attention to preventative maintenance, budget for the larger repair needs, and always mind your habitability laws, you will be able to expertly manage maintenance in your Denver rental home. If you have any questions, contact Alborz Real Estate.

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