6 Preventative Maintenance Procedures To Save You Time and Cash

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Performing preventative maintenance on your home is comparable to maintaining a healthy routine for your body. The more that you do today to keep in good health, the more money you will save further down the road in costly medical procedures. In your home’s case, costly repairs. Below are 6 incredibly simple preventative maintenance procedures that can save you serious time and money, and headaches, while maintaining your home.

1. Weatherization

We can’t stress enough how important it is to protect your home against every changing season, especially in the winter. With freezing temperatures, comes the possibility of bursting pipes, causing anywhere from $900 – $3800 in repairs. That’s not an easy bill for anyone to stomach, especially during the holidays. Our best recommendation: be proactive.

The best way to protect your pipes in the winter if you are planning on living in your home, is to wrap all pipes in insulating material, such as heating tape or fiber glass. To go a step further, inspecting your entire home prior to winter is a great way to identify potential breaks and repairs, and fix them before they turn into larger issues. For a full list of how to protect your home against freezing temperatures, click here.

preventative maintenance

2. Clean Your Gutters

Gutters are essential to every property. They provide runoff water a way to be transported to a draining system, instead of in the surrounding soil of your home. The more water you have stagnating around your property and soaking into the soil, the more problems you are going to have with potential cracks in your foundation. Sadly, despite how simple and import it is, many homeowners neglect to consistently maintain their gutters (even those who aren’t afraid of heights).

Let’s look at this from a time and money perspective: to unclog your drains you need a ladder, gloves and a trash bag. All of which you can buy at Lowes, Home Depot, or Amazon. Depending on the brand or variation of product, you can expect to spend anywhere from $100-$300 and will be sacrificing an afternoon of time. In contrast, a damaged foundation can cost anywhere between $500 – $10,000 in repairs. Long story short, at the very least, homeowners should be clearing their gutters of debris 2-3 times each year.

3. HVAC Filters and Semi Annual Inspection

First and foremost, we recommend getting an HVAC inspection twice a year. Both shortly before summer and before winter would be the optimal times to do so, just before they are meant to be working their hardest. An HVAC inspection will help identify worn out parts early on before an unexpected break down occurs.

Next up, to keep your HVAC running as optimally as possible, we recommend changing your filter at least once every three months. However, this really depends on your home and quality of filter used. The HVAC filter is cheap, easy to replace and helps to keep debris from entering your home’s air and your HVAC system. Having clean filters could mean a drop in electrical bill anywhere from %5 – %15. It’s worth the effort!

Replacing an HVAC filter is much less labor-intensive then cleaning your gutters and winterizing your pipes, so there’s no excuse for not properly maintaining it. You literally don’t even have to leave your house!

4. Protect Against Termites 

No pest holds as much menacing power to destroy a home like termites do. An infestation of termites can completely destroy the foundation of a house in as little as a year. They are estimated to be the cause of $30 billion worth of crop and property damages each year in the United States. Basically, it’s worth the investment to protect your home against termites. A complication with a home’s foundation is a serious matter, and is rarely ever cheap or easy to fix.

Once applied, a termite treatment will usually last anywhere from 6-13 years and costs around $1,500. In contrast, a homeowner will spend around $3,000 to repair damage caused by termites. Skipping the treatment, simply isn’t worth it.

5. Maintain Your Dryer

A simple preventative maintenance procedure that could save your home from a potential fire hazard, is to maintain your dryers. It sounds surprising, but every year firefighters respond to 14,630 home fires caused by clothes dryers. How is it that dryers can cause so many fires? LINT. Lint builds up inside dryer vent ducts, creating highly flammable masses.

The best way to check to see if your vent ducts are working properly is test the outdoor vent. If there is a steady warm breeze causing the flap to move, all is well. If not – act fast. Shut the dryer off completely and use a vacuum to remove the excess lint from the inside. This will not only reduce the hazard of fire drastically, but increase the efficiency of your dryer.

6 Preventative Maintenance Procedures To Save You Time and Cash 1

6. Replace Your Roof

Replacing a roof can be incredibly expensive, depending on the material used, but it’s an investment that will last anywhere from 15 – 50 years. Replacing your roof will prevent against leaks, which can ruin drywall, floors, internal infrastructure and insulation. Once a leak has occurred, the possibility of mold forming is quite high as well, making a home uninhabitable. After a new roof is in place, ongoing routine roof maintenance is recommended to attend to as needed.

Preventative Maintenance is Worth The Effort

These simple, yet effective preventative maintenance procedures can help you protect your investment through the duration of ownership. Taking the time to perform these simple tasks with ensure happy tenants and hold your home’s value. While some of these preventative maintenance tasks require an upfront investment and effort (and maybe a little elbow grease), the risk of ignoring them is far too high. Most of the procedures listed can be completed in an afternoon and don’t require endless trips to the home repair store, or even a tremendous amount of handy-man skills.

Looking for something?

Visit our Tenant Resource Center to submit a work order. Visit our Client Resource Center to log into your account. Check out our awesome DMV located rentals. Get in touch for our property management services.

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Enhanced Reporting

Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them. 

Scroll down to learn more about Reports:

Navigate to the "Reports" module in your portal:

Owner Portal Reports
  • Keep in mind, these reports are dynamic records. They will refresh to display current information every time you view them. 

Enhanced Rent Roll Report:

Enhanced Rent Roll Report
  • The Enhanced Rent Roll Report will show the rent amount, last payment date, move-in date, lease expiration date, and security deposit amount for each of your tenants. 
  • It will also show a portfolio summary with occupancy percentage, vacancy loss, and more!

Unit Comparison Report:

Unit Comparison Report
  • If you own multiple units (or buildings) with Nomadic, you’ll get access to the Unit Comparison Report. 
  • This report enables you to quickly compare financial performance between your units at a glance without toggling between individual reports. 

Income Statement Month-Over-Month:

Income Statement by Month Report
  • The Income Statement Detail – Monthly Report serves as a month-over-month record of portfolio performance. You’ll see itemized income and expense categories and can track monthly. This report will update with fresh data every time you view it. 

Financial Statements

Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time). 

Scroll down for more info about the Financial Statements in your Documents library:

The Documents area contains monthly financial statements:

Owner Portal Documents
  • The statements in the Documents are are static documents. They are posted to the portal once a month to serve as a historical record of financial performance. 

Download a statement to see month and YTD financials:

Owner Portal Property Statement

You'll also find a month-over-month operating statement:

Month over Month Statement

Portal Communication Tool

You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in. 

Here’s an overview of using the communication platform:

Click "Communications" and navigate to "Conversations":

Commincation Dashboard Screenshot
  • The communications module will contain a record of all messages that you create through the portal. 

Click the "New Message" button and send your message:

Owner Portal New Message Screenshot

Responses will show up in the conversation ticket:

Portal Conversation Response Screenshot
  • You’ll get an email notification whenever you get a response, and you’ll also see the message in your portal next time you log in. 

You can reply in-line using the comment box:

Owner Portal Comment

Each conversation will be logged in its entirety:

Portal Conversation Snapshot

Understanding the Ledger

Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details. 

Please scroll through the sections below to get a better understanding of how to interpret the ledger. 

By default, transactions are sorted chronologically:

Owner Ledger Dates
  • The date reflected in the lefthand column is the actual transaction date, not the “bill date”. This is the date the transaction was actually processed. 

If you have multiple properties with Nomadic, you'll see the address for each transaction in the "Location" column:

Ledger Property Column
  • You can filter the ledger to look at just one property, all properties, or specific sets of properties. 
  • If you only have one property with us, you’ll just see the ledger for that property. 

The Description column displays the transaction type:

Owner Ledger Description Column
  • BILL: this is an expense transaction, such as for repair costs or management fees.
  • CHARGE: this is a transaction  billed to the tenant, most typically a rent payment. 
  • NACHA EXPORT: this is a credit we processed to your distribution account. This type of transaction is how you get paid! 

The Amount column shows the dollar value of each transaction:

Owner Ledger Amount Column
  • Positive Amounts: if an amount is positive, it reflects a transaction that is payable to you. Typically, this will be a rent payment that we collected from your tenants. On occasion, a positive number could also signify a journal entry or credit adjustment. 
  • Negative Amounts:  if an amount is negative, this is a transaction that is either payable to Nomadic or is an amount that has already been paid to you. Typically this will be for repair costs or management/leasing fees. Owner draws (net distributions into your checking/savings account) also reflect as negative amounts, since they have already been paid to you. 

The Account Balance column shows a sum of positive/negative transactions at a given point in time:

Owner Ledger Account Balance Column
  • Account Balance should always equal zero after a net distribution has been processed. When the balance is zero, this means that all expenses have been paid and you’ve received the remainder as net operating income, leaving a balance of zero (meaning: no one is due any money, as all funds have been distributed appropriately). 

Navigating the Propertyware Owner Portal

Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.

Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share. 

You can filter all info by date range or property:

PW Portal Filters

View a snapshot of income and expenses on your dashboard:

PW Owner Dashboard View

See every transaction in real-time on your ledger:

Owner Portal Ledger View

Statements and forms will be posted to your documents library:

Owner Portal Document Library

View a suite of real-time financial reports:

Portal Reports View

See a running list of all bills, and drill down for more detail:

Owner Portal Bills View

Under Bill Details, you'll find dates/descriptions/amounts and more:

Portal Bill Details

You can also communicate with your Account Manager through the portal:

Owner Portal Communication Tools

How do net distributions work?

Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account. 

Net Distribution

You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.