Investing in the $230 trillion real estate market can be a lucrative undertaking, especially in a high-demand area like Albany, NY. Yet, owning a rental property here can be both rewarding and challenging, especially when it comes to maintenance issues. Effective maintenance coordination is a crucial aspect of successful property management.
Hiring a property management company is one way to streamline operations and reduce the time-consuming tasks associated with maintaining your investment property.
While these professionals offer a range of services at a set monthly fee, it can be difficult to understand where their responsibilities end and yours begin. So, if you're wondering whether property management fees cover rental maintenance, read on.
This article will shed light on what's included and what's not when it comes to maintaining your property.
Full-Service Property Management in the Albany, NY Area
Full-service property management includes an array of tasks to ensure your investment runs smoothly. These property management solutions include:
- Tenant placement and screening
- Rent collection
- Regular property inspections
- Maintenance coordination and emergency repairs
- Accounting and financial reporting
These services are usually included in your monthly management fee. Since maintenance and repair costs can vary widely, these expenses aren't included.
Landlords are legally obligated to keep their rental properties in good repair, so it's always their responsibility to pay for maintenance and repair costs. Your property manager will help facilitate these aspects through routine property inspections and maintenance coordination.
They may even pay maintenance costs upfront and bill you for them later, but the landlord always foots the bill for property maintenance.
What Is Maintenance Coordination?
Most reputable companies will coordinate necessary repairs and maintenance work. Their role is to hire qualified professionals and oversee the quality of their work.
Some typical services related to maintenance that may or may not be included in your management fee include:
- Routine upkeep of landscaping and lawn care
- Seasonal maintenance, such as snow removal or gutter cleaning
- Regular HVAC inspections
- Emergency repairs for tenant issues
Some companies may impose additional fees for maintenance services, while others incorporate these within the management fee. Don't hesitate to ask about these costs during initial discussions.
One of the best property maintenance tips is to set aside money for routine upkeep and emergency repairs. To save time, you can give your property manager permission to use these funds up to a specified limit.
We Keep Your Albany Investment in Pristine Condition
Understanding the nuances of how property management companies handle maintenance fees allows you to make informed decisions for preserving the value of your property. It's essential to select a property management partner that provides comprehensive maintenance coordination services as part of its package.
This service is vital for helping you retain tenants, preserve your property's value, and avoid legal issues. Finding the right partner will save you time, money, and potential problems.
Rooted Property Management and Development is owned and run by property investors who understand your needs. We offer a full range of property management services to ensure your convenience and success as a fellow investor.
Reach out today for assistance with all your property management needs.
