5 ways to save money on maintaining your investment property - Part 2
Investment properties...
When you own an investment property, it is essential to keep up with maintenance and repairs.
This includes everything from regular pest control to emergencies and larger issues, small unresolved problems can create costly problems in the future.
Here is a common maintenance job required on investment properties that should be part of your regular maintenance schedule.
Foundation maintenance
Most buildings in Australia sit on top of the soil. Over time, the soil can compress and compromise your property’s foundations with settling and subsidence, particularly if you own property in an area of heavy clay or sandy soils. Look for signs like small cracks in the walls, jamming doors that don't close easily, or bouncy and uneven floors that may seem like minor problems, but could become larger foundation issues in the future. If you or your property manager notice any signs of foundation problems, the best course of action is to get a structural engineer to inspect your property as soon as possible so you know what you are dealing with. If you put your head in the sand or wait for 'ron' (later on) you could be increasing the cost to repair by delaying the inevitable.
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Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.