To put it simply, yes. Here’s 3 reasons why:

• It saves you money: It can feel like regular house maintenance dips into your wallet, but it’s important to remember that a simple fix or replacement will cost you much less than dealing with a bigger problem that can come from neglect. If you find regular maintenance is just too costly, you might actually be overspending! If you’re unfamiliar with average maintenance costs, here’s how property managers find you the best maintenance prices for your budget.
  
• Your property is your most valuable asset: The property we own is very likely the most valuable asset in our lives, yet it’s not uncommon for us to spend more on maintaining our vehicles than a fraction of that cost on our property. Universally, homeowners should expect to spend just between 1% and 4% of the cost of their house on maintenance every year.
  
• Maintenance can only add value: Negotiation is a big part of property management and most buyers/renters are looking for a good deal. A well-maintained home is guaranteed to attract prospective renters or buyers who would be happier paying your asking price.

Having a house maintenance checklist is a great way to make sure you keep a close eye on the upkeep of your property. A house maintenance checklist can be broken down like this:

• Foundation and exterior: The grounds and exterior of your property are equally as important as the interior, so make sure to keep a regular eye out for significant cracks in the foundation, as well as on the exterior structure of the house, like the roofing, window frames, piping and drainage.
  
• Electrical system: This is an important one. It is an absolute must to have an electrician to make sure all the wiring is in good condition, and that there aren’t any exposed electrical components that could be a hazard.
  
• Basement: Check for signs of moisture trapped inside the basement like puddles on the floor or damp patches on the walls. Neglecting these signs could lead to water damage on the floor above.
  
• Bathrooms: This is where you will most likely come across leaking pipes, blocked drainage, and issues like inconsistent water pressure. Keep a lookout for leaks around the tub or shower, and the general base and stability of the toilet and any other fixtures as well.
  
• Rooms: Inspect the floors and walls of the rooms for stains, cracks, or other damages, make sure that doors open and close easily and that all electrical switches and outlets are functioning properly.

House maintenance can be time-consuming and costly - here are some of our best tips on unlocking value from rental property renovations and making the most of your investment.