maintaining your property in saint lucia
TRANSCRIPT
![Page 1: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/1.jpg)
Maintenance of Your Maintenance of Your Property Property
Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 2: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/2.jpg)
4 Reasons to Maintain Your 4 Reasons to Maintain Your Property Property
1. To prevent small defects from becoming major repairs – this minimises the cost of repairs;
2. To protect your financial investment -i.e to retain the value of your property thereby reducing repairable depreciation;
Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 3: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/3.jpg)
3. To maintain a healthy and safe environment of your property.
4. To enhance curb appeal – if/when selling, this has a positive impact on both the buyer and Valuer;
Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 4: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/4.jpg)
2 Basic Types of Property 2 Basic Types of Property Maintenance Maintenance
1. Planned (or preventive) – this consists of periodic repairs to ensure reliable operation of the building’s components;
2. Unplanned (or corrective) - this comprises reactive works as a result of breakdown & routine failure of the building components.Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 5: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/5.jpg)
How much to Budget for How much to Budget for maintaining your maintaining your
Property ?Property ?Every property is different so there’s no generic budget to set aside for maintenance & repairs of a house; however, many international bodies & lending agencies suggests an annual amount of 1% to 3% of the current value of the house (depending on the age of the house).
Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 6: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/6.jpg)
By how much does Maintenance By how much does Maintenance increase the value of your increase the value of your
Property?Property?
There is no research/information for St Lucia or the Caribbean; however, research for more developed countries suggests that maintenance increases the value of the property by 0.5% to 1.0%.
Prepared by ECMC LtdPrepared by ECMC Ltd
![Page 7: Maintaining Your Property in Saint Lucia](https://reader033.vdocuments.site/reader033/viewer/2022052405/58722c541a28ab3b7a8b64f7/html5/thumbnails/7.jpg)
Need Assistance in Estimating Need Assistance in Estimating the Maintenance Cost of your the Maintenance Cost of your
Property?Property?
Contact ECMC Ltd today for a consultation on Maintenance and/or Valuation for your property
Prepared by ECMC LtdPrepared by ECMC Ltd