Maintaining a portfolio of investment/rental properties can be a challenging task for landlords. It is important to keep on top of maintenance and repairs in order to ensure that the properties remain in good condition and are compliant with relevant regulations.
Having a Planned Preventative Maintenance (PPM) programme in place is a great way to ensure that you are effectively managing the condition of your portfolio, and protecting your asset(s).
What is Planned Preventative Maintenance?
A Planned Preventative Maintenance programme looks at the condition of the property and identifies any potential issues that may arise in the future. This allows you to plan ahead and take proactive steps to address any issues before they become a major problem. This approach ensures that the condition of the property is kept in a manageable condition, reducing the need for costly repairs or renovations.
How to approach Planned Preventative Maintenance
A Planned Preventative Maintenance programme should start with a thorough inspection of the property/properties concerned. Inspections should take into account the structure of the building, the age of the building, any signs of wear and tear, and the condition of any fixtures and fittings. Any potential risks should be noted and addressed, with recommendations made on the best course of action.
Once the initial inspection and checks have been completed, it is important to create a detailed plan for ongoing maintenance. This should include periodic inspections of the property to identify any potential risks, as well as a schedule for any necessary repairs or maintenance works.
This schedule should also include a plan for any renovations or upgrades that may be required. By having a planning preventative maintenance programme in place, landlords and investors can ensure that they are effectively managing the condition of their portfolio of rental properties in the most cost-effective manner. This will ensure that the properties remain in good condition and compliant with relevant regulations, as well as helping to reduce the risk of costly repairs and breakdowns in the future.
In addition, the programme should include regular checks of all services, such as plumbing, electricity, and heating. This is important to ensure that all systems are compliant, in good working order and that any potential issues are identified and addressed early. This will help to reduce the risk of breakdowns and more costly repairs in the future.
How can our Chartered Surveyors help?
Matthew Parkinson Chartered Surveyors helps clients to develop Planned Preventative Maintenance schedules across their property portfolios. This includes residential properties, industrial units, retail units and schools.
For more information or to speak to us about putting in place and overseeing PPM works on your behalf, please contact us.
