A potential tenant might be super excited for a house or condo before signing the lease. They may move in as cheerful as a child on a summer afternoon. Yet, sooner or later, that sheen will wear off.
Not long after moving in, their sole experience with their property manager or owner, apart from rudimentary upgrades, will be the monthly rent collection. This, obviously, isn't the most ideal approach to win somebody's heart.
The only other major interaction you can have with an occupant is maintenance and it is here where you can have a significant effect.
The greatest cost that you can control as a landowner or property manager is decreasing your turnover. Less turnover implies fewer vacant properties and fewer turnover costs.
Things being what they are, how might you achieve this? Great customer service. And the absolute best customer service you can offer an occupant is quality maintenance. Consider your occupants your customers, and your maintenance as customer service!
There are various approaches to complete maintenance. What direction is the best depends significantly upon your circumstance and goals. Generally speaking, the best approaches for different circumstances are as follows:
1. Do It Without Anyone's Help In the event that you have only a couple of rentals and are overseeing yourself, this is certainly not a bad approach. That being stated, you must be mechanically adept and have the time to do the work. Time is money after all.
2. Hire Contractors You can also hire professionals to do your work for you, although this approach might be a bit tricky, as contractors might not be keen to work on such small projects.
3. Maintenance Companies There are also companies that handle all the day-to-day maintenance jobs, as well as emergency maintenance. This option is a bit expensive, but is certainly something to consider.
And of course, you can hire a property management company to oversee your portfolio’s maintenance or, if you grow enough, hire your own employees.
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