Rental Property Maintenance
Keeping up on rental property maintenance, repairs and renovation is a big part of being a landlord. Careful planning and knowing when the job is too big for you to take on yourself -- and having a contact list full of experts to call if so -- makes this part of the job that much easier, how to work with your contractors effectively and build a relationship with them so that you can quickly take care of your property needs. Here are some tips:
Seasonal planning
Contractors should be contacted early
Referring others to your contractor
Asking your contractors to help
Plan For The Season
Property renovations and repair projects in many parts of the country slow down during the winter. The warmer weather brings back the activity and will make it very difficult for contractors and repair companies to help you with these projects. You might have difficulty finding the help you need once the demand for their services increases.
Even big-box home retailers like Lowe's or Home Depot can get extremely busy in spring and summer. It is possible to run out of popular materials, or supply lines may slow down. You need to be ready for cost increases and job delays.
Subcontractors and contractors often look for work in the off-season. Plan indoor projects like kitchen cabinetry replacement during winter to get things done quicker and at a lower cost.
The warmer weather coincides with the busy move-in/move-out season. A window can help you do bigger renovations or repairs. It is crucial to get these projects done quickly to maximize your investment. Your contractor is the key to success.
Season-specific work such as snow removal or winterization should be considered. These tasks can be handled by contractors who are available to help you plan.
Keep Contractors Informed
Even if they don't have any work right now, keep your contractors updated about what's happening. If your unit will be vacant for a while and you know that you need to do work on it, you should call your contractor right away. Your subcontractors and contractors may prefer to have you work on their jobs than bidding for them. They will be more organized if you give them advance notice.
When possible, use your repair and contractor people for maintenance work. While general contractors might not like managing small jobs, they may be able to refer them to their subcontractors, who might appreciate it, especially in slower times.
It can be a good idea to involve your vendors when estimating the cost of a rehab project. Knowing about the job you are interested in and when it begins, vendors will be more inclined to make time for you.
Follow through on your projects. Do not hesitate to call your contractor if you are just thinking about something and don't know what to do. They won't offer unlimited consultations, and they will lose their trust quickly if they aren't paid for their time.
Actively Refer To Your Contractors
Refer to your contractors when you need work done on your own house. It is important that they are aware of the source of the referral. It is worth your time to look for work from reliable and stable contractors. They will appreciate your leadership, and they will give you their full attention when you have a project you need to be done quickly.
Ask Them For Their Help
When a contractor is performing work for you, you can ask them for their opinions about possible projects. Ask them if you are interested in investing in other properties. They may be open to buying potential opportunities that could include renovations. Tell them if you are interested in this investment and why, and begin planning with them. This will create an active partnership and show them that you trust and are interested in future work.
