Does it really need to be replaced?

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If you own rental property, you’ll want to make smart financial decisions regarding your properties.  One decision that you have some control over is whether to repair or replace items that are no longer working.  Just because an item is broken doesn’t necessarily mean it should be replaced.

Do a little bit of investigation, first.  A search on the internet can usually tell you if others are having the same problem and provide potential solutions.  Sometimes a recall has been issued and you can get the item repaired for free.  Either way you will probably find useful information on an internet search.  There may even be a quick fix for it.

Is the appliance still under warranty?  I know that you are a diligent property owner and have retained your receipts to make that determination.  If so, look to have the repair covered under warranty.

If none of these yield results,  having someone on your team who can quickly determine the best course of action is essential.  Of course if that appliance is really old and decrepit lay it to rest and buy a new one.  You certainly don’t want to keep investing money in something that is near the end of its life.

We personally have learned that residents can get attached to their current appliances and many times would rather fix what they have than have it replaced.  How about just replacing the burnt out heating element for $15 in the dish washer instead of buying a new one?  Or checking why the freezer isn’t making ice, it could simply be a filter that needs replacing.

Be sure to carefully check out what is really causing the trouble and make smart decisions!

Please write in the comments section about an interesting repair or replace story.