There are many unexpected mistakes that landlords can easily make, and those mistakes often end up costing more than the price of a good property manager. This is something to consider if you’re self-managing and worried about your ROI.
As a landlord, you’re going to be responsible for much of the wear and tear that occurs at your rental property. When you’re determining how much you’ll need to spend and when you’ll need to spend it, it helps to know the average lifespan of particular items and systems.
When a tenant moves out of a property, it’s time for you to get inside and compare the current condition to the condition of the property before your tenant moved in. This will help you determine whether the tenants will receive their full security deposit refund, or if you’ll need to withhold some of it to pay for damage or cleaning that wasn’t taken care of before moving out.
One of the greatest fears that investors and landlords have is that a tenant will damage the property that’s being rented out, and it will take an extreme amount of time and money to return the home to habitable condition. This is an understandable concern.
It’s easy for maintenance issues and repair needs to sneak up on a landlord. When something needs to be fixed or replaced, it might feel unexpected. However, as professional property managers, we see routine and emergency maintenance issues every day. Today, we’re discussing some of the most common repairs that you’re sure to need at your rental property.
Whether you’re looking for professional management for one rental property or an entire investment portfolio, there are some common questions you should always ask a property manager when deciding which one to go with. Spend some time researching websites and online reputations. Then, schedule some interviews and make some phone calls so you have a chance to really get to know how the management company works.
