How Much Should You Spend on Maintenance?

Maintenance is an on-going necessity in rental properties, but it can be hard to know how much money you should put aside in the budget each year.

Depending on the current condition and the age of the property, as a general rule putting aside 5-10% of the total annual rental income for maintenance should be enough to deal with year by year wear and tear, as well as possibly providing you with money leftover at years-end to invest into the property to improve its rental value and prevent future maintenance issues.

Factors such as the cladding type have an important bearing, for instance a brick property with a tile roof requires less maintenance than a property with a corrugated iron roof.

It’s always important to remember that when a property is improved its rent generally increases – not immediately but at the next opportunity when the rent can be increased, which is usually when re-tenanted. Improvements that lead to rent increases are anything that make the property look better or be more functional for the tenant.

Interested to hear how we can help you and your investment? Find out how our Wellington Property managers can help you. We manage property in the Wellington and Hutt Valley regions. Feel confident your property and tenants are looked after by our professional Property managers with our property management services .

Discover how our Care & Return System will benefit you. Receive a no-obligation, FREE rental appraisal today for your Wellington investment property!

Call Jordan Atkinson - 027 297 0873

Quinovic Kent Terrace | Wellington

Call Allan Hartley - 027 522 9084

Quinovic Johnsonville | Wellington

Call Helen Vance - 027 487 8103

Quinovic Hutt Valley | Wellington

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Quinovic Johnsonville & Northern Suburbs

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