One of the hot topics for owners and investors who manage their own properties is how to handle maintenance. When you’re looking at investment properties, you don’t want to overspend because that will cut into your return. You also can’t underspend for maintenance because you need to keep your property in good condition. We have a few ideas that can help you find high quality vendors.
Online Referral Services
When owners look for vendors, most of them go to Angie’s List, Thumbtack or other online referral services. These are excellent sites that often list references from other clients, so those vendors are good to use. Just remember that those vendors are often more expensive. Additionally, you often have to pay in order to find a vendor that can work on your property.
For an investor-friendly maintenance person, check with local real estate investment clubs. They often have people who market themselves as investor-friendly maintenance services, and they often provide better pricing for investors. These professionals will also have good references, so make sure you lean on your local investment clubs.
Insured and Licensed Vendors
Make sure anyone you hire has workers’ compensation coverage and liability insurance so you’re covered if anything happens. Professional maintenance companies will always have that.
Professional Property Managers
The best thing for most owners and investors to do is to partner with a property management company that has their own in-house maintenance services. Those guys know exactly what to look for in rental property. They will be able to tell you if it’s better to repair or replace something, and their pricing is competitive and a lot more investor-friendly. You can be sure they are licensed and insured, and they will be timely. You won’t have to wait a week to have someone look at your HVAC system.
If you need help finding your next maintenance company, please contact us at McCaw Property Management. We’d love to tell you more about us.