Maintenance: It has the potential to break the profitability of your rental portfolio.
Over-runs in maintenance expenses are a serious problem for real estate investors. You purchased your rental properties with an estimate of what your annual maintenance spend would be. If reality differs from this estimate, then your investment can turn into a real dog.
Your maintenance spend might include deferred maintenance and other items over which we have little control. But when the maintenance ticket comes in, how we handle it can make all the difference.
Here are HomeProp’s 5-P’s of Maintenance: