Maintenance is an important part of managing your Charleston rental property, and we take a proactive and preventative approach. Our intent is to protect the condition of your asset and ensure it remains functional, habitable, and attractive. We don’t like deferred maintenance because it always costs more.
You can count on us to respond to every maintenance and repair need with a sense of service. We lean towards cost-effective repairs that will ensure your property is taken care of without spending unnecessary funds.
Here’s a look at what you can expect from Meridian Residential Group when we’re maintaining your property.
Benefits of Our In-House Maintenance Team
Most of the repairs your home will require can be made by our in-house maintenance team. We provide general plumbing and electrical services as well as help with the HVAC. This works well for our property investors because it means we can hold our team accountable. We’re in control of their schedules and not at the mercy of an outside vendor, who may have different priorities. We also keep costs reasonable. We don’t charge any mark-ups. You can expect work that’s generally about a third of the cost if you had to find your own vendors and schedule your own work.
Customer service is important when we’re maintaining your property. There’s a constant line of communication so you understand what’s going on at your property. We communicate with tenants, too. Our responsive maintenance work contributes to resident satisfaction and retention.
With multi-family properties, we manage an on-site team of maintenance personnel who can respond right away to any issues. We know exactly where they are at all times, and your tenants won’t find themselves wondering when their repair needs are going to be met.
When we do have to outsource specialized work to vendors and contractors, we only work with preferred partners who provide high-quality work for cost-effective prices.
Protecting the Condition of Your Charleston Investment Property
Our maintenance plans include taking care of the functional needs of your property as well as the appearance. Cosmetic repairs obviously aren’t as important as a water heater that needs to be drained or an air conditioning unit that isn’t working, but we don’t want to see your investment fall into disrepair. We want it to look attractive and welcoming so it’s easy to attract new tenants. Properties that aren’t well-maintained will quickly lose revenue, and there’s a huge opportunity cost when tenants choose a competing rental home over yours because it has updates and upgrades that yours does not.
Your rental income and investment success depends on a well-maintained property. Keeping the exterior of the home well-landscaped and the appliances energy-efficient are important ways of attracting and retaining great tenants.
Budgeting for Routine Rental Property Repairs
Budgeting for repairs and replacements can be a challenge. You never know when something is going to stop working and even when you’re paying attention to preventative maintenance schedules, you can still be caught by surprise when a maintenance emergency occurs at your property.
Depending on the size and condition of your rental property, we’ll ask for a maintenance reserve of between $300 and $500. This allows us to act quickly when there’s work that needs to be done at your property. Anything beyond that price point and we’ll want to have a discussion with you to obtain approval before we move ahead with work. Rental owners have the peace of mind that they won’t be bothered with every minor repair that needs to be made. Your reserve protects you from having to make quick decisions about how to pay for things.
We can tell you more about how we maintain your single-family or multi-family rental property in Charleston. Contact our team at Meridian Residential Group to talk about your specific maintenance needs and expectations.
Meridian Residential Group in North Charleston provides both single-family and multi-family property management in the Charleston, SC area, including in North Charleston, Summerville, Goose Creek, and Moncks Corner, among other cities.