Property management fees usually cover less than the cost of maintenance. We can't predict the exact cost of maintenance work for your property. We also can't accurately estimate how much we should include in the fees to cover maintenance work.
According to the Bureau of Labor Statistics, property managers have one of the best job outlooks. This is mainly due to their unique services, such as maintenance coordination. Read on to find out what you should expect from your property manager.
What Is Rental Maintenance?
Rental property maintenance is needed to ensure the unit stays in the right state. The cost of rental property maintenance can either be an expense of the landlord or tenant.
Maintenance and repair work often occur after an inspection or if the tenants make a request. Coordinating rental property maintenance can be quite stressful for property owners. Property managers have open channels of communication to address maintenance needs better.
Effective rental maintenance enhances the aesthetic quality and property's value. Doing so ensures you can maximize your earnings by ensuring higher occupancy rates.
Activities Involved in Maintenance Coordination
The primary role of property managers is coordinating maintenance activities. Some of the key activities included in maintenance coordination are:
- Communicating with tenants to determine maintenance requests
- Document and track maintenance work
- Budget oversight
- Emergency response to maintenance requests
- Manage payments to outside vendors for repair services
Property management fees cover the cost of maintenance coordination. However, the cost of maintenance and repair work are not included in the fees. This is because the fees paid to a property manager are usually fixed.
Maintenance costs are variable depending on the condition of the property.
Benefits of Maintenance Coordination
Preventive maintenance is one of the benefits of maintenance coordination. Preventive maintenance and repair work can improve property safety. Maintenance costs are kept low through better vendor coordination.
The key benefits of maintenance coordination for landlords are:
- Meeting legal obligations
- Maximized rental income
- Enhanced tenant satisfaction
Coordinating maintenance activities can be highly stressful for property owners. Working with a property manager gives you a hassle-free experience.
You can also avoid maintenance by handing it over to your tenants. However, this may not be in the property's best interest since tenants may fall short on effective maintenance work.
Services Covered in Property Management Fees
A property management company offers several services focused on maximizing the value of your investment. The services of a property management company are usually covered by their fees. Some of the most common services include:
- Tenant screening
- Rent collection services
- Managing the tenant-landlord relationship
- Lease administration
- Accounting and financial management
The number of services provided by property managers varies based on the package you choose. A comprehensive package guarantees you access to everything you should have to succeed.
Get Efficient Rental Maintenance Coordination Today
Nothing comes close to the joy of buying your first real estate property. But that joy can quickly turn sour, given the daily stress of managing the property. Hiring a professional property manager gives you peace of mind while maximizing your earnings.
Effective maintenance coordination is a crucial service provided by PMI Coeur d'Alene. With us in your corner, you don't have to worry about property inspections and preventive maintenance. Contact us today, and let's get to work.
