Property ownership is a serious responsibility. If you want to be a good landlord who's compliant with laws and regulations, you'll need to keep your rental property well-maintained. In some cases, it might make sense to handle this yourself.
With that said, if you're not particularly handy or if you own a lot of properties, you might consider doing your maintenance coordination through a professional property management company.
Read on to learn more.
Property Management
Property management involves a range of services. For example, property management companies may screen tenants, collect rent, and handle maintenance issues.
Of course, every property management company is different. You'll need to ensure you always read your management agreement carefully when you enter into an agreement with a new company.
Fee Structure
Your property management fees might be structured in various ways. The most common type of fees are flat fees. These are when you pay a set amount for your property management payments.
You might also have percentage-based fees. This is when the property management company takes a percentage of the rent paid by tenants rather than a flat fee.
Maintenance expenses may or may not be included in these fees, so always ensure you read the fine print carefully.
Routine and Major Maintainance
Most property management companies will make a distinction between routine and major property maintenance. In most cases, your property management fees will pay for routine maintenance, but they probably won't pay for major maintenance.
Routine maintenance refers to things like minor repairs and preventative measures. Generally speaking, your property management company will cover all of these. On the other hand, major maintenance, such as installing a new HVAC system or putting on a new roof, won't be covered, and you, as the homeowner, will be responsible for these.
Additional Fees
As we've established, routine maintenance is generally provided by your property management company. However, there still might be additional fees for certain routine services. For example, some property management companies may charge you extra for landscaping services.
They might also charge you for things like cleaning services between tenants. This is why you should always talk to your property manager before you sign a contract. This ensures you'll know about any additional fees.
Look for Good Communication
As you can see, there are no universal laws about whether or not your property management fees cover maintenance. This is why it's absolutely vital to have good lines of communication with the company. When you work with a company that's open and honest, you'll never be left in the dark about your fees.
Take Maintenance Coordination Seriously
If you want to be a great landlord, you'll need to take property maintenance coordination seriously. If you work with a substandard property management company, your tenants won't have a good experience.
Do you want to work with an honest and effective property management company in Nebraska? Contact us at Aksarben Property Management today. We'll help you maintain your property to the highest possible standards.
