November 15, 2023

Preventive Maintenance Checklist for Property Management

Chief Customer Officer - Second Nature

A big part of property management is prevention. Property managers anticipate issues, plan for problems, and execute solutions. For some, a key part of this prevention is to develop a property management preventive maintenance checklist.

For multi-family property managers, a regular preventive maintenance check is standard–and easy. Their properties are often all contained to one apartment building or community, and it’s easy to do a walkthrough to ensure everything is as it should be.

For single-family property managers, it gets a lot more complicated. With scattered-site properties, regular inspections are impractical and expensive. In fact, one of the best ways to approach prevention is to help equip residents to take preventive measures themselves.

At Second Nature, that’s our approach: “How do we make it easy for residents to handle preventive care of the property?” In this article, we’ll explore both approaches to preventive maintenance: Doing inspections as a property manager – or finding solutions where residents support the process.

Let’s dive in.

What is Preventive Maintenance?

Preventive maintenance is a proactive approach to keeping a property in good condition with the purpose of preventing unexpected failures and maximizing longevity.

This type of maintenance encompasses a broad range of activities, from routine inspections (more common in multifamily) to air filter delivery services that keep HVAC systems running smoothly.

By implementing preventive maintenance tactics, property managers aim to prolong the lifespan of property components, maintain property value, and provide a safe, functional, and appealing living environment for residents.

What is a Preventive Maintenance Inspection – and Who Conducts It?

A preventive maintenance inspection is a regularly scheduled, systematic evaluation of a property designed to identify and rectify any emerging issues before they escalate into serious problems.

In other words, a preventive maintenance inspection is like a health check-up for a property. A well-documented inspection also provides a record of maintenance that can be valuable for insurance claims, move-outs, etc.

Generally, SFR property managers find themselves in three different camps when it comes to property inspections:

Those who visit sites only when an issue arises.
Those who conduct scheduled annual preventive inspections, whether there are issues or not.
Those who conduct biannual or seasonal preventive inspections, whether there are issues or not.

In fact, we conducted a casual Facebook poll to see what single-family property managers said about the frequency of their property inspections. Most PMs who responded said they conduct an annual inspection. A smaller amount said they conduct two inspections per year, and another group said they do it only when needed. A very small amount of property managers polled said they conduct quarterly inspections. (To get more community insights and tips like this, join our Triple Win Facebook Group.)

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But there’s also a fourth option: Those who rely on a partner who helps manage prevention for them. There is so much residents can do themselves to prevent larger issues from ever developing – they just need a little support.

For example, if a resident is changing their air filter on time, the property manager is going to get fewer HVAC tickets, and the HVAC system is going to last longer. If you can provide scheduled air filter delivery, residents can stay on top of their filter changes.

Whichever of the camps you fall into, we want to provide you with resources in this article to make preventive maintenance easier.

If you’re the type of property manager who prioritizes regular preventive maintenance inspections, we have a checklist template for you below.
If you’re the type of property manager who prefers to react when issues arise (often more cost-effective), we have some suggestions for how to help residents manage preventive measures on their own.

What to Include in a Preventive Maintenance Checklist

Let’s say you do prioritize regular inspections. Crafting a preventive maintenance checklist for property management is all about anticipating needs and averting potential issues before they arise.

Building your checklist begins with a thorough assessment of the property's unique features and vulnerabilities. By understanding the life cycle of various components of a property across the seasons – from HVAC systems to appliances – you can prioritize tasks and schedule maintenance in a way that minimizes wear and tear.

Your checklist will likely include the following categories:

Structural Maintenance
Electrical Systems
Plumbing & Water Systems
HVAC Systems (Heating, Ventilation, and Air Conditioning)
Appliances (if provided)
Lawn & Outdoor Areas
Pest Control
Safety & Security Systems
Interior Checks
Miscellaneous (Garage, waste disposal, etc.)

Sample Preventive Maintenance Checklist for Property Management Companies

With input from OnSightPROS, we’ve built a preventive maintenance checklist template for single-family rental property management companies. Use this template as-is or tweak it to fit your property needs!

If you want a downloadable and more in-depth template for all types of rental inspections, check out our original post on rental inspection checklists and Get the download here.

Structural Maintenance

Roofing: Inspect for leaks, damaged tiles, or shingles. Check gutters and downspouts.
Foundation: Check for cracks, water damage, or shifting.
Walls and ceilings: Look for cracks, dampness, and signs of mold.

Electrical Systems

Safety checks: Ensure that outlets, switches, and wiring are in good condition.
Lighting: Regularly test all indoor and outdoor lighting fixtures.
Inspect circuit breakers and panels.

Plumbing & Water Systems

Drains and pipes: Check for leaks or buildup.
Water heater: Test hot water temperature and pressure relief valves and inspect for signs of wear.
Faucets and fixtures: Ensure proper flow and check for leaks.

HVAC Systems (Heating, Ventilation, and Air Conditioning)

Filters: Ensure they are up to date. With Second Nature’s Air Filter Delivery, you’ll have the date stamped right on the filter itself.
Ductwork: Check for mold or leaks.
Seasonal checks: Ensure the heating system is ready for winter and cooling for summer.

Appliances (if provided)

Oven, range, microwave: Check for cleanliness and ensure they are working efficiently.
Refrigerator: Check coils and inspect seals.
Washer and dryer: Inspect hoses and ensure the resident is keeping lint and drainage clean.

Lawn & Outdoor Areas

Landscaping: Ensure that the landscaping is tidy and up to HOA standards, if applicable.
Paths and driveways: Check for cracks or tripping hazards.
Pools: Ensure safety measures are in place.

Pest Control

Notice any signs of pests
With Second Nature’s Property Management Pest Control, you can be sure residents can call a professional immediately if they ever have issues. We handle it for you.

Safety & Security Systems

Smoke and carbon monoxide detectors: Ensure residents have kept up to date and they are installed properly.
Fire extinguishers: Check expiration dates and ensure they're easily accessible.
Emergency exits and paths: Ensure they're clear and well-marked.

Interior Checks

Floors: Look for damaged tiles, caulk problems, carpet wear, or wood floor issues.
Windows and doors: Ensure they open and close smoothly, and check seals.

Miscellaneous

Garage and parking areas: Check for proper lighting, security, and cleanliness.
Waste disposal: Ensure trash bins are clean and in good condition.

The Importance of Preventive Maintenance

Did you know that something as simple as getting air filters delivered on time can reduce HVAC costs by hundreds of dollars annually? More on that in a minute, but it’s clear that for property managers, preventive maintenance isn’t just about keeping the property in good shape—it's a strategic approach that yields all kinds of benefits.

By prioritizing prevention, you can:

Minimize costly repairs: Regular maintenance can prevent small maintenance issues from escalating into expensive emergencies.
Extend asset longevity: Helping residents proactively care for components like HVAC systems extends their lifespan, saving money in the long run.
Enhance resident satisfaction: Supporting a resident in maintaining their property means fewer complaints and issues, leading to higher retention rates.
Ensure safety: Regular checks keep safety hazards at bay, reducing the risk of accidents and liability.
Improve property value: Consistent upkeep maintains or even increases the property's market value.
Stay compliant: Keeping up with building codes and safety regulations is non-negotiable, and preventive maintenance ensures compliance.

By incorporating a preventive maintenance strategy, property managers not only safeguard the property's physical health but also its financial viability and desirability in the market. It's a proactive measure that resonates well with residents and investors alike.

Best Tools to Support Preventive Maintenance

Here’s the big question: How can property managers for single-family homes make preventive maintenance easier?

Scattered-site properties don’t lend themselves to regular inspections. So, the best solution, as we mentioned above, is to help your residents do it themselves.

Here are three of our favorite products to get that done.

Second Nature

We’ve built a Resident Benefits Package with proactive property management in mind. Each feature – from renter’s insurance to on-demand pest control to air filter delivery – aims to address ongoing needs and prevent common issues from escalating.

Let’s take air filter delivery as an example. In the largest HVAC data study of its kind, filter delivery service reduced HVAC ticket requests by 38%

Just by including a filter subscription for your residents, you can help them cut energy costs and ensure your HVAC system lasts for the long term.

Learn more about all of the features of our Resident Benefits Package and how it delivers results for residents, property investors, and property management companies.

RentCheck

RentCheck is a property inspection app built to help residents do inspections on their own. The property manager can request and track routine inspections from the resident.

You can set up any cadence you want and customize the self-guided inspection requirements.

RentCheck will fully automate reminders and support residents in completing a video inspection that then gets sent to you as a shareable report.

zInspector

zInspector is another very popular rental inspection app in the SFR property management space.

Like RentCheck, property managers use zInspector to schedule, customize, and receive inspections conducted by residents themselves. The app also includes a toolkit with an evolving set of property and task management tools.

You can get 360 photos and virtual tours with a compatible 360 camera and printable, customizable inspection reports.

FAQs

Q: What are the benefits of preventive maintenance?

Preventive maintenance offers a multitude of benefits, including:

Cost Savings: It reduces the likelihood of incurring expensive emergency repairs and extends the life expectancy of property assets.
Efficiency: Regular maintenance ensures that all systems and appliances are running at optimal performance, which can lower energy costs.
Tenant Retention: A well-maintained property leads to higher tenant satisfaction, which can decrease turnover rates.
Safety: It helps identify potential safety issues before they become hazardous, promoting a safer living environment.
Value Preservation: Ongoing care maintains and can enhance the property's value over time.
Compliance: Ensures that the property remains in compliance with the latest building codes and safety regulations.

Overall, preventive maintenance is essential for maintaining a property's integrity, ensuring tenant satisfaction, and optimizing operational budgets.

Q: What is included in basic preventive maintenance?

Basic preventive maintenance for property management typically encompasses:

Routine Inspections: Regularly checking the structural integrity of the property, including roofs, walls, and foundations.
HVAC Maintenance: Ensuring heating, ventilation, and air conditioning systems are clean and functioning properly.
Plumbing Checks: Looking for leaks, clogs, or wear in pipes and fixtures.
Electrical System Audits: Inspecting electrical panels, wires, and safety systems to prevent malfunctions.
Groundskeeping: Checking outdoor areas, including landscaping, gutters, and drainage systems.
Appliance Upkeep: Servicing provided appliances to prevent breakdowns and extend their lifespan.
Safety Inspections: Verifying that all safety equipment, like fire extinguishers and smoke detectors, is in working order.

These tasks are designed to identify and address issues before they develop into more significant problems, helping to ensure the property remains safe, functional, and appealing to tenants.

Q: What’s the ideal schedule for preventive maintenance?

The ideal schedule for preventive maintenance can vary depending on the specific needs of a property, but a general guideline is as follows:

Weekly/Monthly/Quarterly: Regular checks on a weekly to quarterly basis are more common for multifamily properties and apartment buildings, with quick checks on high-usage areas and equipment, such as communal spaces and gardening upkeep. Quarterly maintenance inspections could include more in-depth inspections of HVAC systems, plumbing and electrical systems, and seasonal preparations.
Annually/Seasonally: A small number of SFR property managers will conduct seasonal or semi-annual inspections. A few more conduct annual inspections (unrelated to move-in or move-out, which always includes inspections). These are more in-depth inspections to keep an eye on potential issues.

Topics:

Maintenance Resident Experience Tips & Trends

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Investor Experience Platform™️ IXP™️

An Investor Experience Platform™️ (IXP) in property management is a suite of products, services, and benefits offered by property management companies to property investors. Just like a resident benefits package is a way to drive value for residents, investors, and property managers, the IBP™️ is an innovative approach to property management that focuses on driving value for an investor's assets and turning that value into profit for the property management company. In this article, we’ll dig into the different features that an Investor Experience Platform™️ can include, and how those benefit not just investors, but property managers and residents, too. What Is an Investor Experience Platform™️ (IXP)? As stated above, an Investor Experience Platform™️ (IXP™️) is a comprehensive suite of services that offer property investors higher quality property management, stability, and profit. An IBP™️ typically includes concierge-level services beyond basic property management – such as property insurance policies, eviction guarantees, rent guarantees, maintenance plans, asset performance reports, etc. These services are aimed at maximizing the investor’s assets, stability and convenience, profitability, and peace of mind in managing their properties. They're commonly managed through an investor experience platform to securely manage and monitor the performance of these assets online, which we'll discuss later. The first step to outlining an IBP™️ is to define what your basic management fee means and covers. If the answer is, it’s collecting rent, handling maintenance, and general communication – does that include maintenance coordination or is that a separate fee? Does it include asset reporting or is that an additional service? In your management agreement, define what the management fee is, what it covers, and how much it is. An IBP™️ can be an effective tool for articulating the new and differentiated things that an investor wouldn’t be able to do on their own and that you are offering beyond basic property management. Articulate your unique and differentiated services (IBP™️) and use that as a tool for positioning and charging for what it’s worth. What’s Included in An Investor Experience Platform™️? An Investor Experience Platform™️ should include a range of solutions to help deliver consistency, insight, and asset protection to a property owner’s portfolio. After all, professional property managers don’t have to be functional managers of a home – they can be strategic partners in the management of financial assets. You might hear services similar to the IBP™️ called an “owner benefit package,” but at Second Nature, we believe that the “investor” term is useful in encouraging a longer-term mindset, and emphasizes the economic value professional property management can bring. According to Eric Wetherington, VP of Strategic Initiatives at PURE Property Management: “As property managers, we need to think more like asset managers. This client made an investment, and we should be guiding that client through managing that investment, not just collecting rent.” To build and manage a winning IBP™️, property managers need an Investor Experience Platform that unlocks scalable product and service customization, digitized onboarding, accounting policy automation, and more. In addition, Investor Experience Platforms provide transparency and convenience for your investors. Here are some of the most valuable services that property managers can offer through an innovative Investor Experience Platform™️. Property insurance program Similar to offering a renters insurance program through an RBP in the lease agreement, property management companies can offer an insurance plan to investors to cut costs and ensure the safety of their assets. Most management agreements will include the requirement that the investor carries insurance on the property and that the property manager is additionally insured. But what if you as the property manager could help manage that for the investor – at scale? Property Insurance for investors should have dynamic pricing based on individual investors’s property portfolio and needs. The benefit beyond flexibility is the savings they’ll see on their premiums while also getting insurance that’s tailored to the needs of their specific property class. At Second Nature, we work primarily with single-family rental properties and small multi-family residences. Property Insurance Programs can bring scale that will drive economic value for the investor over what they could get retail on their own. They’d still have the option to go get their own insurance that meets requirements, but they can pay you a small fee to manage it for them. Rent guarantee An IBP™️ can include a number of financial guarantees to protect property investors and drive ancillary revenue for PMCs. A rent guarantee, or rent protection, ensures a consistent rental income to investors by protecting them against resident defaults or non-payment of rent. If a resident fails to pay rent, the property management company covers the unpaid amount and takes necessary steps for eviction or collection, providing financial security and minimizing the risk for property owners. Rent guarantees work for professional property management companies that have enough properties to balance the loss of rent if a resident doesn’t pay. The risk is low and the additional profit from fees for this guarantee can have a very high ROI, while driving satisfaction and stability for the investor. Plus, if you’re using services in an RBP to help incentivize on-time rent payments, you’ll rarely find yourself out in the cold. Eviction protection guarantee An eviction protection guarantee also goes beyond the normal scope of property management services and can be used as a secondary source of revenue. Eviction Protection is a service provided by property management companies to property investors that offers additional security and financial protection in the event of an eviction. Under this guarantee, the property management company assumes the costs associated with the eviction process, including legal fees and court expenses. It helps alleviate the financial burden on property investors and provides peace of mind by ensuring that they are safeguarded against potential losses resulting from resident evictions. The eviction guarantee helps protect property owners from the complexities and potential costs associated with evictions, ensuring a smooth and efficient resolution to tenant-related issues. Pet guarantees & other guarantees A pet guarantee is a service offered by property management companies to property investors that aims to address any potential issues related to allowing pets in rental properties. It typically involves implementing policies and procedures to ensure responsible pet ownership, such as thorough pet screening, pet agreements, and collecting additional pet deposits or fees. The pet guarantee may also include services like pet damage insurance or assistance with pet-related issues during the lease term. It provides property investors with a framework to accommodate residents with pets while minimizing risks and maintaining the condition of the property. For many residents, finding a pet-friendly apartment increases retention and profitability. They’re willing to stay longer and pay more for a pet-friendly place. And–get this–pet damage is less likely to happen than damage from kids! It’s not a huge risk to the asset, but can provide a big benefit in terms of satisfied, longer-term residents. Maintenance plan Home warranties are a four-letter word for property managers. They’re a massive headache to deal with, and yet there’s high demand for them among property investors. Because of that, most property managers charge a fee for home warranties, for each they have to file. Imagine if there was a world where home warranties weren’t needed. Here’s the thing: Professional property managers already have the vendor network and the know-how to coordinate maintenance jobs. What they don’t usually have is a product that’s priced to give the investor the experience they want. Let’s say right now an investor is paying $50 a month for a cheap home warranty. The warranty only covers 40% of issues and it creates all these extra people and friction in the middle. For anything moderately significant that goes wrong with a property, PMCs generally must contact the investor for permission to get work done. It’s all a massive hassle and loses time in maintenance requests that leave residents frustrated. What if there was a product that costs, say, $150 to $200 a month but it actually covered everything? Instead of having sudden expenses and emergencies, this maintenance plan smooths out the experience and makes it more predictable for the investor. For PMs, it means taking the initiative on fixes without waiting for approval. Imagine a world where you didn’t have to get owner approvals for 95% of maintenance issues – because they’re already budgeted for and already paid for. For residents, it means better maintenance, and faster. Another Triple Win! Asset performance reports Another piece focuses on property managers as asset managers. Think about any investment app, like Robinhood, Acorns, etc. You can log in to these apps any time, 24/7, and see how your stock and investments are performing. In most investment classes, you can see in real time how your assets are performing. Why shouldn’t property investors have that as well? An IBP™️ can include exactly that: a dashboard or online portal that shows investors regular reports on how their property is doing. They could get updates on the value of their home over time, the home price appreciation, rent price over time, and project rent growth, typically maintenance costs and how they’re doing against that, and more. Resident Benefits Package Another piece to include in your IBP™️ is to highlight the benefits of your resident benefits package to your investors. Explain how features like a filter delivery program protect their assets and reduce HVAC repair costs. Show how a renters insurance program can ensure coverage and protection. Give numbers on how credit reporting incentivizes on-time rental payments and helps ensure financially stable renters. Explain how a movie-in concierge saves both time, headache, and money. Each of the pillars of an RBP is critical to encouraging better resident behavior, increasing renter retention and lease renewal rates, reducing vacancies, and more – all primary goals for a property investor. A note about Rent Advance Programs There’s been due buzz about “Rent Advance” offerings, though many advise caution when approaching this financial product. It works in some ways like cash advance programs, which can satisfy urgent needs, but not be more valuable for anyone long term. The way it works is PMs offer to send a year of rent upfront to the investor in a big chunk, and collect monthly from the resident. The investor typically pays a 5-10% premium on the advance, which can be their entire expected return. So the question becomes, where do they put that cash to get a better return instead? Another thing to think about is who would actually use this product. Investors who don’t have enough cash on hand? How does that benefit anyone in the long run? What happens when there’s a big maintenance bill later? Does this encourage better decisions and practices by the investor? To date, there’s been pretty low adoption of this program, which is another sign it may not be hugely beneficial to everyone involved. But plenty of innovations start that way, evolve, and find traction. One case where it might be a value generator is if an investor is looking to take a cash advance and put it toward a down payment for another house. That would benefit the property manager as well, promising more business, and the PM could offer a lower rate for getting more properties to make the financing more attractive than hard money loans or other alternatives. The jury is still out here, it’s an interesting one to track. How Can Investors and Property Managers Benefit From an Investor Experience Platform™️? Investors and property managers can benefit from an Investor Experience Platform™️ in several ways. They’re also great for residents in the sense they build more stability and quality into the renting process. Here are just some of the benefits of an IBP™️. Enhanced investor attraction An Investor Experience Platform™️ provides incentives and advantages that can attract more investors. Financial guarantees and protections against the risks associated with evictions or late payments can increase stability, while services like a maintenance plan can ensure premium care of their property assets without increasing their workload. By offering attractive perks, property managers can differentiate their offerings and generate greater investor interest. Increased investor retention Both IBP™️s and RBPs help build loyalty with residents and investors. By fostering a strong relationship and demonstrating ongoing value, property managers can build trust and loyalty among investors, and retain them over the long term. IBP™️s help establish the stability, transparency, and asset growth for a real estate investment that an investor hopes to achieve. Improved property performance An Investor Experience Platform™️ can also contribute to improved property performance. For example, by offering discounted property management fees or access to professional services at reduced rates, property managers can help investors optimize their returns and reduce costs. Additionally, incentives such as rent guarantees or eviction protection can mitigate risk for investors and attract more capital to the property. Streamlined communication and transparency A well-designed Investor Experience Platform™️ facilitates effective communication and promotes transparency between property managers and investors. This can involve regular reporting on financial performance, property updates, and the sharing of relevant market insights. Transparent and consistent communication builds trust and confidence among investors, fostering a positive and long-lasting relationship. Competitive advantage A comprehensive Investor Experience Platform™️ can give property managers a competitive edge in the market. When investors have access to exclusive benefits and advantages, they are more likely to choose a property managed by a company that offers a compelling package – and to recommend it to others. Say hello to increased investment inflow and a stronger market position for your PMC. Should You Make an Investor Experience Platform™️ Mandatory? The first thing most property managers ask us when we’re talking about an RBP or an IBP™️ is: Should I make this mandatory for all investors or do I make it a flexible opt-in/opt-out program? Unlike RBPs, where best practices are more proven and established, different PMs are taking different approaches with their IBP™️s. Some have a mandatory level of service set at a flat price. Others may say they’re fine offering a base level of service without these differentiated products, giving investors the choice to simply pay a baseline management fee and opt out of the IBP™️ premium service. Some may offer a baseline to all investors and then give them the chance to opt in for premium IBP™️ services. There are a lot of ways to do it. With the RBP, we’ve found that making it mandatory does not generate nearly as much pushback as people expect – and can be a strong value add overall. Final Thoughts About an Investor Experience Platform™️ The Investor Experience Platform™️ is an innovative way to generate ancillary income and create more value for investors and residents. Similar to Second Nature’s premier Resident Benefits Package, the IBP™️ can deliver high-quality service for investor experience – and help create a triple win for investors, residents, and property management companies. The IBP™️ reinforces the value of a professional property management company for investors and helps differentiate you from the crowd. Stay tuned to learn more about the latest in the IBP™️ space, or learn more about how a resident benefits package can launch a whole new level of value for your PMC.

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