Property Management is multifaceted and can be frustrating and stressful at times, especially when faced with property maintenance or repair issues. Property owners and tenants expect things to be handled quickly and thoroughly, while providing them with the most cost-effective solutions. That is why it is important to keep these top 5 tips at hand when dealing with property maintenance or repair concerns. They will not only help to save you valuable time and money, but make for happy tenants.
1. Hire Licensed & Insured Contractors
Before you ask for an estimate, be sure that the company or people you are dealing with are local, trusted and, most importantly, licensed and insured contractors. This should be obvious, but unfortunately there are a lot of fly-by-night, or gypsy, contractors that will seem tempting, but can actually make matters worse. A lot of folks can be taken advantage of here and you do not want to waste your time or money with these potentially problematic contractors or create potential risks for yourself and your property owners. These credentials should come standard in the industry.
2. Think Long-Term Solutions
When it comes to repairing property issues, there are both short-term and long-term solutions. Going with the cheaper option may alleviate the problems in the short-term, but it will almost always come up again and will not be the best solution for extending the life of your property. There are always cost-effective options that will over time, give you the most bang for your buck.
3. Build a Network of Trusted & Reliable Contractors
When a property maintenance issue arises, it can be a long drawn out process to take estimates on work needed to improve it and then to the point of finally getting the work done. To expedite the process, once you have established a good relationship with a contractor, find out what other services they can offer you. If they cannot do the work themselves, often times they know someone, that they trust, who can. And you don’t have to do the dirty work, in any sense.
4. Think Ahead and Complete Maintenance Early
Typically, there are unforeseen issues that arise caused by such things as environmental factors due to weather and other circumstances. But, a lot of times there are seasonal or annual maintenance performances that you can employ ahead of time. Before hurricane season or heavy traffic tourist season, think about what you can do to help lessen the burden on your property and your tenants’ wallet. A proactive approach is always best.