Capital Improvements vs Maintenance
Tenants often request that windows or flooring be replaced and expect that this is a routine repair. There is a distinct difference between capital improvements and repairs. Generally speaking, capital improvements can be passed on to tenants, so it is important to communicate with them about the differences before undertaking major jobs that may increase their rent.

Maintenance and repairs are the biggest single costs associated with apartment building ownership. Any typical semi-modern apartment building has literally hundreds of moving parts and wearing out items that require constant upkeep and attention. Maintenance activities can include everything from lightbulb replacements, door closer adjustments cleaning, painting, patching and sanding surfaces, sticky doors and windows, weeding, irrigation repairs, elevator maintenance, sprinkler testing and other generally minor tasks that are performed on a frequent or ongoing basis by a handyman or owner. (more…)

Filed under capital expenses, maintenance and repairs, Property Management · Tagged with , ,

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