Discover how ignoring maintenance can lead to costly repairs. Don’t let deferred maintenance erode your property’s value!
Deferred Maintenance: The Hidden Cost of Doing Nothing
Mat Zalk is the President and Property Manager at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. He focuses on the acquisition and management of single and multifamily residential properties on behalf of himself and a small network of investors.
Before founding Keyrenter Tulsa, Mat was a Strategy Director at The Property Finder Group, where he worked closely with the CEO and senior management team on various international acquisitions, scaled local teams in the group’s Saudi Arabia and Egypt offices, and executed a number of strategic projects in the business’ core market of Dubai. Mat has been an active investor since 2014 and is a licensed real estate agent in Oklahoma.
Here’s a glimpse of what you’ll learn:
- Why do property owners defer maintenance, and what are its pitfalls?
- How property use cases can affect maintenance and repairs
- Mat Zalk explains the importance of acquiring a complete property analysis and inspection before new tenants move in
- When should an owner defer maintenance?
- How much money should landlords reserve for upkeep and repairs?
In this episode…
Sometimes owners choose to postpone repairs or upkeep on their properties. However, neglect can lead to more problems, including structural damage, mold growth, and pest infestations. So what preventative measures should landlords take to avoid costly repairs?
As an experienced property manager, Mat Zalk has observed numerous issues caused by deferred maintenance. For example, wood fixtures on homes decay over time, so Mat recommends applying a fresh coat of paint every two to five years, which costs less in the long run. Another significant component to consider is the HVAC system. He advises checking the refrigerant levels and ensuring the heat exchanger is crack-free. If you are considering renting out your home, he suggests conducting a thorough property analysis or hiring a home inspector. These inquiries give landlords a general overview of the property and which repairs should be prioritized to reduce overall costs.
Join Mat Zalk in today’s episode of The Same Day Podcast as Chad Franzen of Rise25 interviews him about deferred maintenance. Mat discusses some common home issues due to deferred maintenance, why property owners may delay repairs, and how to reduce maintenance and repair costs over the long run.