When it comes to property management, one of the most common questions that landlords and tenants alike have is, “Do property management companies pay for repairs?”
The answer is not a simple one, as it varies depending on the specific property management company, the type of property being managed, and the terms outlined in the management contract. In this article, we’ll take a closer look at how property management companies handle repairs, and what you can expect if you’re a landlord or tenant working with one.
We’ll also explore some of the benefits of working with a property management company, as well as some of the challenges that can come with it.
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Do Property Managers Pay for Repairs?
As mentioned earlier, the answer to this question can vary depending on the specific property management company and the terms outlined in the management contract. Some property management companies will include the cost of repairs in their management fee, while others will pass those costs on to the landlord. For example, a property management company in New York City may charge a monthly fee of 10% of the monthly rent, which covers the cost of repairs and maintenance. On the other hand, a property management company in a smaller city might charge a monthly fee of 5% of the monthly rent, but require the landlord to pay for repairs and maintenance.
It’s important to review the terms of your management contract and ask any questions you may have before signing on with a property management company. It’s also important to factor in the cost of repairs when determining the overall cost of working with a property management company.
Who Handles the Repairs?
In most cases, the property management company will handle repairs in-house, using their own maintenance staff or contractors. However, some companies may allow landlords to choose their own contractors and bill the property management company for the repairs. For example, a property management company in the Bay Area may have a team of in-house electricians, plumbers, and handymen to handle repairs. On the other hand, a property management company in a small town might only have a handyman on staff and outsource larger repairs to local contractors.
Again, it’s important to review the terms of your management contract to understand who is responsible for making repairs. In some cases, the property management company may handle all repairs, while in other cases, the landlord may be responsible for certain types of repairs.
What Happens if There’s an Emergency?
If there is an emergency situation, such as a burst pipe or a fire, the property management company will typically handle the situation as quickly as possible. They will contact the appropriate emergency services, such as the fire department or a plumber, and work to resolve the issue as soon as possible. This can include hiring a restoration company to mitigate the damage and arranging for temporary housing for tenants if necessary.
It’s important to have an emergency plan in place, so that everyone knows what to do in the event of an emergency. This can include contact information for emergency services, as well as instructions for tenants on what to do in the event of an emergency.
Benefits of Making Quick Repairs
When it comes to property management, the sooner a repair is made, the better. Not only will it prevent further damage to the property, but it can also prevent liability issues. For example, if a tenant slips and falls because of a broken step, the landlord or property management company may be held liable. Additionally, making repairs quickly can help maintain good relationships with tenants and keep the property in good condition.
Imagine a tenant reports a leaky faucet to the property management company. If the property management company quickly schedules a plumber to fix the faucet, the tenant will likely be satisfied and continue to pay their rent on time. On the other hand, if the property management company takes a long time to schedule the repair, the tenant may become frustrated and may even move out.
Making quick repairs can also help maintain the property’s value. For instance, if a tenant reports a leak in the roof, the property management company should quickly schedule a roofer to fix the leak before it causes further damage. This can help prevent costly repairs down the road and help maintain the property’s value.
Do Property Managers Handle Evictions?
This can vary depending on the property management company. Some companies will handle evictions in-house, while others may outsource this task to a legal professional. For example, a property management company in California may have a legal team on staff to handle evictions, while a property management company in a small town might outsource evictions to a local attorney.
It’s important to understand the process for evictions and what the property management company’s role will be, in case you need to evict a tenant in the future. This can include understanding the state’s eviction laws and the necessary steps for filing an eviction.
Who Handles Tenant Repairs Complaints?
This will typically be the property management company’s responsibility. Tenants will contact the property management company with any repair complaints and the company will then schedule the repairs or contact the landlord to schedule them. It’s important to have a clear communication system in place to ensure that repairs complaints are handled in a timely manner.
For example, a property management company may have a dedicated maintenance hotline that tenants can call to report repairs. They may also have an online portal where tenants can submit repair requests. This can help ensure that repairs are handled in a timely manner and can help prevent disputes between tenants and landlords.
Property management companies vary in how they handle repairs. It’s important to understand the terms of your management contract and ask any questions you may have before signing on with a company. Additionally, it’s important to have an emergency plan in place and to make repairs quickly to prevent further damage and liability issues. And also, it’s important to have a clear communication system in place for handling repair complaints and eviction processes. With the right property management company, you can rest easy knowing that your property is in good hands. It can also give you peace of mind that your property is well maintained and your tenants are satisfied, which in turn will lead to higher occupancy rates and steady income.
If keeping your tenants happy and maintaining high occupancy rates is a priority for you, consider using Pickspace. Our property management software is designed with client satisfaction in mind and is fully customizable to meet your specific needs. With Pickspace, you can easily manage your property repair and maintaining requests, assign them to contractors, and keep tenants informed of the status of their requests. Our system is designed to make sure that repairs are done promptly and efficiently.
Our customer service team is highly trained and available 24/7 to assist you with any issues that may arise. We pride ourselves on our quick response times, ensuring that you’ll never be left waiting long for assistance. To experience the benefits of Pickspace for yourself, visit our website at Pickspace.com or book a demo to learn more about what our software can do for your property management.