How much should you spend on rental repairs?

After purchasing a property, often the last thing people remember to budget for is repairs and maintenance – so how much is too much to spend on them?

For those of you who are landlords, we’re sure you’ve had to repair a thing or two since owning a property. It’s not always something you can ignore either as you have an obligation to provide a safe and liveable environment for your tenants. Not only that but you have a business obligation to your own pocketbook to ensure that you’re maximizing the return on your investment.

The costs involved in repairs will of course depend on what actually needs to be fixed, and while a cheap fix may seem like the best idea, it could cause you more problems in the long run.

It is best to look for a cost-effective solution that will also stand the test of time, so that you don’t find yourself having to spend money on repairs every year or so. You don’t need to buy high-end products for your property, but materials and solutions that are built to last will end up saving you money in the long term.

If you would like to know more about property maintenance and rental repairs then feel free to contact us to discuss the best solutions for your property.