Learn how to simplify property management maintenance by managing common issues with confidence, clarifying vendor expectations, and balancing price, quality, and timeliness. Discover best practices for handling repair requests, including the importance of finding vendors that meet specific criteria. Explore the significance of including specific requirements in vendor contracts, maximizing efficiency with property management software, and addressing tenant damage. Gain insights into how to handle maintenance issues in rental properties, including scenarios, responsibility, trust, judgment, tenant approval, and leasing fees.
Maintenance should be managed rather than solved, focusing on minimizing damage and addressing tenant concerns.
When choosing vendors for maintenance, property managers must strike a balance between price, timeliness, and quality of work based on their specific needs.
Deep dives
Philosophy of Managing Maintenance
Maintenance should be seen as attention to be managed rather than a problem to be solved. It is important to understand that although technology, communication, and good vendors can help improve the maintenance process, they will never fully solve the maintenance problem. By accepting that maintenance is an ongoing aspect of property management, property managers can alleviate stress and focus on minimizing damage and addressing tenant concerns in a timely manner.
Finding and Selecting Vendors
When looking for vendors, property managers need to consider three main criteria: price, timeliness, and quality of work. It is challenging to find vendors who excel in all three areas, so property managers must strike a balance based on their specific needs. While cheaper vendors may offer fast service, their quality of work may be subpar. On the other hand, vendors providing high-quality work may come at a higher cost and potentially have longer wait times. Property managers should carefully evaluate vendors and prioritize the criteria that align best with their maintenance goals.
Owner Involvement in Tenant Placement
Property managers need to carefully consider owner requests to find their own tenants for rental properties. It is crucial to maintain control over the tenant approval process to ensure that prospective tenants meet the necessary screening criteria. Even if owners propose tenants, property managers should review and process applicants using their standard screening procedures and lease agreements. Offering reduced leasing fees for owner-recommended tenants can be considered, but it is essential to protect the property manager's interests by maintaining control over the tenant selection process.
Are you a property manager who is tired of dealing with never-ending maintenance issues? In this episode you will learn how to manage common issues with confidence, including clarifying vendor expectations and balancing price, quality, and timeliness. Marc will share best practices for managing those maintenance challenges, including how to adopt a mentality that these are tensions to be managed, and not problems to be solved.