If you’re thinking about getting into the rental business, you might be wondering, “How are property repairs handled?” The answer to this depends on whether or not you choose to hire a property manager. Furthermore, the answer will vary depending on the property manager you hire. Regardless of the route you take, know that it’s crucial to make property repairs in a timely manner. Tenants have basic legal protections, including the right to live in a unit that meets structural, health, and safety standards. If the property is uninhabitable, the tenant can file a lawsuit against you. Consequently, it’s critical to handle property repairs quickly and effectively.
How are property repairs handled by a landlord?
Entrepreneurs who initially enter the rental business often have a DIY mindset. They think they can do all the repairs themselves to save a few bucks. However, most landlords also work full-time jobs or have other businesses to run. It’s difficult to find the time to repair or maintain rental properties on the side.
It can be even more difficult to handle emergency repairs. If the roof is leaking or the wiring is faulty, these problems require a fix right away. DIY landlords may need to take time away from their own jobs to address the situation. Plus, there is the added problem of expertise. Few landlords understand how to fix everything that can go wrong with a unit, like the electrical wiring, the roof, or the plumbing. It also takes time to do your due diligence when hiring contractors to ensure you’re hiring the right one for the job. These are just a few reasons why many landlords choose to hire a property manager.
How are property repairs handled when requested by a tenant?
A landlord who hires a property manager to take care of the repairs can expect timely service. Established, reputable property managers typically have cloud-based tenant portals. These enable tenants to submit repair requests online on a 24/7 basis.
The property manager receives the repair request and then calls the tenant directly to get more information about the situation. Once the property manager has a clear idea of what the problem is, he or she will contact a pre-vetted, fully qualified contractor. Property managers typically have a network of local contractors whom they know they can trust.
At this point, the contractor may need access to the property in order to provide an accurate estimate for the repairs. The property manager will ask the tenant to let the contractor in to assess the damage. Once the contractor develops the estimate, the property manager will get in touch with you—the landlord—to discuss the cost.
Once you approve of the cost of the repairs, the property manager will authorize the contractor to make the repairs. Then, the tenant will let the contractor back into the property to complete the repairs. You’ll then see a note about the completed repairs in your cloud-based landlord portal.
How are property repairs handled in between tenants?
Wondering about property repairs made on vacant rental units? Each time a tenant moves out, your property manager should conduct a thorough inspection of the unit. The manager will check for problems like air conditioner malfunctions, structural damage, exposed wiring, and other potentially unsafe conditions. He or she will also inspect the property for major cosmetic issues, like severe carpet stains or damaged hardwood floors.
The property manager will develop a report of his or her findings from the inspection. Then, the manager will contact the appropriate contractors to request quotes for the repairs. The property manager will be on hand at the unit to give the contractors access. Then, he or she will discuss the cost of the repairs with you. Once you authorize those repairs, the property manager will again let the contractors into the unit.
Does the property manager take a cut of the repair cost?
This is a valid concern. It’s actually quite common for most property managers to charge a marked-up price for repairs. However, some property managers don’t do this. When you sign on with a property management company, you should always ask about whether the company will mark up repair bills.
What about property maintenance needs?
All properties need routine maintenance. Sticking to a routine maintenance schedule will help you avoid major repairs down the road. Fortunately, you won’t have to worry about whether you’re behind on any maintenance tasks because your property manager will keep track of it for you. He or she will arrange for things like the annual furnace inspection and air conditioner service visit. This will allow you to focus on other priorities in your life.
Unlike most property managers, New Concept Property Management never marks up repair bills; landlords only pay what the vendor charges. Plus, we offer multiple, flexible fee structures, allowing you to choose the level of services you need. Still wondering, “How are property repairs handled?” Give us a call in Tucson at (520) 305-3950 and we’ll be happy to answer your questions.