Unforeseen repairs are one of the biggest property management headaches
One of the most common worries that people have about renting their home out and becoming a landlord is that inevitable late night call. The air conditioner no longer works. There's a water pipe that has broken that has caused damage to the home. There is a storm and there has been damage to the roof. Any one of these things can make you wish you sold your home rather than rented it out. At moments like this, it can be frustrating to be a landlord.
Of course, the most common worry when one of these calls comes in is, "how much is this going to cost me?" And money rightfully tops the list of our concerns. But there are other factors as well that enter into the picture. One of them is time and hassle. It is important to prepare for unforeseen repairs by having a reserve fund with some cash to address these as they come up. We don't like to spend on unexpected repairs, but if we have reserves then we can approach the problem much more objectively.
But how do you prepare for the TIME that overseeing these repairs, dealing with contractors, getting estimates, etc. takes? Dealing with repairs can be a real hassle and waste of time. This is especially true if you have relocated and are in another state. Put simply, you can save reserves and prepare for the money cost of unforeseen repairs. You cannot put time in reserve so that the repairs come when it is convenient.
If you are busy with your job, your family, or just everyday living...the repairs can come in a moments notice and interrupt your schedule. If you are in the military and deployed, well that is even more difficult.
So what is the solution?
Well, it depends on your personal situation, but it is one of the reasons that people choose to use a professional property manager to manage their home. The Real Estate Group's Property Management team has a proven system in place for inspecting properties to make sure that they are rentable, and arranging for repairs to your rental home when things happen. And let's be realistic, it will happen sooner or later. Having a professional team to manage this makes a lot of sense for many people. Many choose us to assist them with the following:
- Written Move-In/Move-Out Inspections
- Routine Property Evaluations
- Repairs to Your Property
- Annual Smoke Detector Certifications
This help ensures that your property is maintained in rentable condition and that repairs, when they do arise, are coordinate to be resolve quickly. Want to find out more about Property Management with the Real Estate Group? Simply visit our Property Management page and find out more about what we do to help save you money and time when you are renting out your home.