Tending to the maintenance needs of a single rental property can be a full time job by itself. Consequently, many landlords find themselves struggling to decide between performing these maintenance tasks on their own and hiring a property management company to do the job for them. If you have found yourself dealing with this same struggle, taking the time to review the pros and cons associated with professional property maintenance services can help you to determine whether or not this option is right for you.
There are several benefits that come along with choosing to hire a property management company to maintain your rental properties. These benefits include:
- Emergency Services - Most property management companies will offer a dedicated emergency hotline that tenants can call if a serious problem arises with the property outside of normal business hours. This ensures that any issues with your rental property are addressed right away rather than allowing damage to continue spreading while the tenant struggles to get in touch with you or another authorized representative.
- In-House Contractors - Property maintenance companies will often maintain their own staff of qualified contractors. This allows you to get the repair services you need quickly and at a much more affordable rate than hiring a private contractor for each job.
- Limited Contact With Tenants - Since your tenants will be calling the maintenance company each time they need help rather than calling you, you will have more free time to enjoy the residual income that your rental property provides.
There are also a few disadvantages that you should be aware of when choosing to take advantage of professional property maintenance services. These disadvantages include:
- Monthly Fees - Property management companies will traditionally charge a monthly fee that is equal to a portion of the rent that is collected on the property each month. This fee will be due even if your rental property has not required any maintenance during a particular month.
- Inability To Inspect - While having an in-house contractor respond to maintenance calls can be quite convenient, it may also result in your inability to inspect the damage or subsequent repairs to your property right away. For some property owners, this can be considered a serious disadvantage.
The Bottom Line
There are many factors that you will need to consider when deciding whether to maintain your own rental properties or hire a company to do the job for you. For instance, you will need to consider your monthly budget, your desire to be directly involved in the repairs, and the amount of free time that you have available. For more information about the services offered by a maintenance company, contact one such as Marcine & Roussel Company.