Why You Should Document Property Maintenance Tasks?
Blog Admin 30 Jan 2023 Property Management
Need for documenting property maintenance tasks:
Increased Efficiency: If you have hired a property manager, documentation of property maintenance tasks improves the management team’s efficiency. It is easier to keep a tab on the progress of each task with respect to different properties. Instant access to the information required saves time and effort for more productive tasks.Better Management: Maintenance documentation keeps everyone involved accountable for their responsibility. The data recorded can be used to follow up on the performance of the maintenance team and catch up on tasks falling behind. This helps facilitate seamless planning and execution of property maintenance. Control on the Maintenance Budget: Documentation also helps keep track of maintenance and repair expenses. Tracking expenses is crucial for making profits and comparing costs in the long-run. It helps in making a budget and sticking to it.
- Legal Compliance: Documentation plays an important role in compliance with the local, state and federal laws related to real estate. It is easier to keep up with the laws and regulations when there is an effective document management system in place. A good management system automates document retention schedules to ensure compliance with legal requirements.
- Conflict Management: At times tenants may make claims such as maintenance requests were not fulfilled, a certain property damage occurred because of delayed property maintenance, etc. Maintaining thorough documentation of property maintenance tasks helps in avoiding such conflicts between property owner & tenants by providing a record of maintenance requests fulfilled and log of repairs made.
- Boosts Property Value: As is seen in the above-mentioned points, property maintenance documentation has many benefits to offer. This invariably has a positive effect on tenant satisfaction and the overall value of property. Well-maintained property enjoys better lease renewal rates, helping property owners make higher profits.