It's unbelievable that property owners spend up to 4% of the property's value on maintenance each year.
Renting out your property in Austin can be tricky. Sometimes, the property owners aren't responsible for covering repairs.
What should rental property management know about repair costs? Read on for the full rental property repair guide.
Covering Rental Property Repairs
When it comes to rental property repairs, the responsibility often depends on the nature of the issue. The terms of the property management agreement matter as well.
A property management company needs to carry out repairs in a prompt and efficient way. The cost of these repairs may vary.
Damage From Tenants
Sometimes, a tenant causes damage to the property. This could be intentional or through negligence.
The cost of repairs is usually the tenant's responsibility. Property managers can help facilitate the repair process to ensure that it's done right.
Routine Rental Property Maintenance
Property managers typically handle routine maintenance tasks and minor repairs as part of their services. These costs are often covered by the property owner as part of the management fee.
Some emergency repairs include a malfunctioning HVAC system in extreme weather and major plumbing issues. In these cases, property managers often act fast to address the issue. These costs may be the responsibility of the property owner if the tenant isn't at fault.
The Rental Property Maintenance Checklist
Property managers follow a maintenance checklist to keep the property in top shape. Some common maintenance tasks on the checklist are as follows:
Property managers often conduct inspections to identify any issues that need attention. This includes checking for leaks, electrical problems, and general wear and tear.
HVAC System Maintenance
Property managers should ensure that the HVAC system is in great shape. Regular filter changes and system inspections are part of this maintenance.
Plumbing and Electrical Maintenance
Plumbing and electrical systems must be maintained to prevent issues. Property managers may schedule routine inspections and repairs as needed.
The exterior of the rental property also requires attention. This includes landscaping and roof maintenance. They should also address any structural issues.
Maintenance and Repair Reserve Fund
Some property management agreements include a maintenance and repair reserve fund. Property owners contribute a set amount to this fund each month. It's used to cover repair costs.
This can provide peace of mind for property owners. It helps spread the cost of repairs over time.
Communication Is Key for Rental Property Management
Effective communication between property owners and property management companies is essential. Property owners should have a clear understanding of what repairs are covered by the management fee and what falls outside of it.
This will help prevent any surprises when unexpected repair needs arise.
Do You Need Help with Rental Property Company Responsibilities?
In Austin, maintenance and repairs are a big part of rental property management. While property managers are responsible for routine maintenance and minor repairs, the specifics can vary depending on the agreement and cause. Good communication can help you navigate these repairs.
Staying on top of repairs and other tasks shouldn't be stressful. Contact Austin Property Management to discuss our property management solutions. Our "client first" philosophy ensures we always meet your needs.