Are you prepared for emergencies or unforeseen expenses that come with owning an investment property?
Let us help reduce the unwanted stress with our 'Easy Maintenance Budgeting Plan'. If you don’t currently put money away for maintenance and you face an emergency repair, you might find yourself scrambling to pay the invoice on time.
Many McDonald Real Estate landlords are putting $50 - $200 per property of their monthly rental income aside for maintenance.
Some of the most common maintenance issues can include - Healthy Homes, cleaning, broken windows & plumbing issues.
Emergency repair work (plumbing/heating/electrical)
Window repair
Did you know:
As a bare minimum, you should allow $1,200 or better yet 0.3 - 0.5% of the value of your house per year for maintenance. This does vary widely depending on the age, size and condition of your house and the building materials used.
You may not use all this maintenance money one year, and then have major expenses the next! But it will average out over time.
How it works:
1. Tell your property manager how much you would like put aside from your rent each month.
2. When a maintenance issue arises our team will consult with you directly to use your keep back maintenance savings.
3. Your monthly statements will show the amount that you have accumulated over-time.
If your property is managed by our team of experienced property managers, the money you put aside will be shown each month as a ‘'Keep Back’ for maintenance and will be shown on your monthly statements. This means that you can see exactly how much you should be accumulating for those unexpected expenses. All you need to do is choose how much you would like to accumulate each month.
The money is yours and will be held in your account within our trust. The 'Keep Back' maintenance savings is available to you at any time, on request. You can cap the amount you would like to put aside once that amount is reached. Parameters can be set around how this money should be used.
If you would like to discuss this further with a property manager or if you would like to sign up to the new maintenance initiative, please fill in the form below and we will set this up for you.
Sign-up to the maintenance budget initiative today & start saving:
