Montgomery, AL, is an excellent destination for property investors thanks to the city's thriving job market, which creates ongoing demand for rentals.
Earning an income from rental properties isn't easy, though; it involves numerous tasks that can become stressful. Property maintenance is a time-consuming and costly responsibility for Montgomery landlords, but it's vital for legal compliance.
Hiring a property manager is one way to streamline your maintenance tasks, but do property managers pay for repairs? Read on to find out more about this aspect of rental property management.
Do Property Managers Pay for Repairs and Maintenance?
The short answer is, 'No, they don't.' When you sign a property management agreement, you get access to a range of specialized services to help you maximize your income and reduce expenses, but you still pay all the costs of maintaining your unit.
In some cases, your tenant might pay for expenses like minor home repairs. While tenants have some maintenance responsibilities under Alabama law, they must agree to any extras when they sign their lease.
Full-service property management usually includes:
- Property marketing
- Tenant background checks
- Rent collection
- Lease management
- Basic accounting
The duties of a property manager also extend to some tasks directly related to property maintenance. These include maintenance coordination and property inspections.
What Is Maintenance Coordination?
Maintenance coordination is almost always part of a property management agreement. It involves creating a schedule of routine and preventive maintenance tasks and ensuring they take place.
These things might include:
- Annual roof inspections
- Gutter clearing
- Servicing of HVAC units
- Pest control measures
- Testing carbon monoxide and smoke detectors
Property managers keep track of your rental unit's condition during routine property inspections. At these times, they may also carry out small tasks like changing HVAC filters.
These are some of the things they check for during these inspections:
- Water leaks
- Faulty appliances
- Inefficient HVAC systems
- Leaky windows and doors
These inspections help them preempt potential repairs by attending to small matters before they become big, costly issues.
Property managers accept and respond to tenant maintenance and repair requests promptly to ensure your tenants stay happy. In many cases, property managers have a panel of pre-vetted maintenance professionals to call on for fast, affordable service.
They compare quotes to get the best prices, arrange access for workers, and keep track of invoices and payments.
The landlord pays the contractor directly for all costs related to maintaining their units. In other cases, the property manager may allocate funds from the tenant's rent payments.
You can arrange for your property manager to create a reserve fund for maintenance from your rental income, too.
Find a Property Manager in Montgomery
Property maintenance coordination helps preserve the value of your investment property, encourages lease renewals, and prevents unnecessary repairs.
PMI River Region offers a full range of property management services to help make your journey as a landlord easier. We are backed by over 20 years of property management experience and are committed to helping you grow your rental business.
If you have more questions like, 'Do property managers pay for repairs?' Get in touch for the answers you need from the Montgomery, AL, pros.
