Real estate can be an excellent way to generate extra income. Whether you own a few homes or an apartment building, renting a property can be a lucrative business.
To keep your renters happy, you have responsibilities as their landlord. One of your most important responsibilities is the upkeep of the property.
In many cases, people hire property managers to maintain their properties. However, this can be costly and may not be the ideal choice if you own just a few properties. Maintenance coordination is another alternative that may suit your maintenance needs.
Here is everything you need to know.
What is Maintenance Coordination?
A property manager is a popular way for investors to hand off the day-to-day management of their properties to someone else with more experience. Since they handle so much, their services tend to cost a lot. Maintenance coordination is a much cheaper alternative to help keep your properties in ideal shape.
Maintenance coordination is an effective way to handle rental repairs and upkeep. You don't need to fix the repairs yourself or find and hire a maintenance worker.
When you sign up for this service, you have the option to choose the kind of service you desire. You can use full coordination, which handles emergency and non-emergency repairs. The other option is 24/7 emergency repair coordination.
In most cases, tenants will receive a number they can contact to handle their repair inquiries. The service you use will dispatch a maintenance worker to handle the request for you. They will also keep you apprised of the repair and its status.
Good property management means that you are there for your tenants when they need you. The services your maintenance company provides should include repair services and grounds upkeep.
Some of the services you should look for ought to include plumbing repair, HVAC maintenance, painting, landscaping, roof repairs, and seasonal groundskeeping, e.g., shoveling snow and raking leaves.
If you own an apartment complex with common areas and offices, you can also hire a custodian to maintain these areas. Custodians tend to the cleanliness of common areas and offices by sweeping, mopping, sanitizing, and vacuuming. They will also dispose of trash.
Naturally, you don't want to have to pay for repairs to your properties. The reality is that at some point, you'll probably have to have repairs done. However, preventative maintenance can go a long way toward minimizing the repairs your property will need.
Some preventative measures your maintenance team can assist with include:
- Plumbing inspection
- HVAC inspection
- Testing smoke and CO2 alarms
- Recharge fire extinguishers
- Cleaning window wells and gutters
- Seal gaps in windows, doors, and walls
- Seasonal projects, like winterizing the pool
- Landscaping and maintaining large trees
The Blue Ribbon in Property Management
Property investment is a lot of work, but there are plenty of resources at our disposal. One resource is maintenance coordination, which can handle property service to keep your properties in top shape. When you're on a budget, they are the best choice.
At Blue Ribbon Property Management, we are all about providing the best experience for renters and tenants alike. We can help analyze rental properties, have learning resources for renters, and help potential tenants find their ideal home. Contact us today so we can help provide you with a blue ribbon real estate journey.