Editing 1course Real Estate (section)

==== Maintenance and Repairs ====
Proper maintenance is key to preserving your property’s value and keeping tenants satisfied. Here’s how to handle it effectively:

# '''Routine Maintenance:'''
#* '''Regular Inspections:''' Conduct regular inspections to identify and address maintenance issues early. Schedule seasonal maintenance tasks like HVAC servicing and gutter cleaning.
#* '''Preventative Measures:''' Implement preventative measures to reduce the likelihood of major repairs. For example, regularly check for water leaks and address them promptly.
# '''Handling Repairs and Emergencies:'''
#* '''Reliable Contractors:''' Build a network of reliable contractors for various repair needs. Having trusted professionals on call ensures quick and quality repairs.
#* '''Emergency Protocols:''' Establish protocols for handling emergencies. Provide tenants with a clear procedure for reporting urgent issues and ensure they know how to reach you or the property manager.
# '''Budgeting for Maintenance:'''
#* '''Maintenance Fund:''' Set aside a portion of your rental income for a maintenance fund. This ensures you have the necessary funds to handle unexpected repairs without impacting your cash flow.
#* '''Example:''' If your monthly rental income is $2,000, allocate 10% ($200) to your maintenance fund.