Regular wear and tear property maintenance
Category Rentals
Unlike other investment classes, property, due to its "bricks and mortar" basis requires regular maintenance to ensure your asset is maintained in a good condition. Not looking after the maintenance requirements of a property will no doubt be costly in the long run.
Property owners should therefore undertake regular maintenance, at least at the end of each lease agreement. It is advisable that a portion of the monthly rent is put away towards a 12-month maintenance fund.
While there is an obligation on tenants to maintain the property in the condition in which they received it, property owners should bear in mind that regular wear and tear is a part of any rental property, and these are not the responsibility of the tenant.
Items such as a faulty geyser, electrical faults, leaking roof, damp, wall cracks and updating security are all part of things the owner must keep maintained on an annual basis.
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Author: Natheema Khondker
