Investigating property maintenance companies is something every landlord and property manager has to deal with at one point or another. Unless you’re large enough that you have an in-house crew, you’ll need to call on the experts to help with both minor and major issues now and again.
But some people- especially DIY landlords- are reluctant to make the investment. They don’t see why they should pay someone else to do the work when they can just do it themselves.
Even though that makes sense sometimes, in usually makes more sense to call in the experts.
Reason #1: Property Maintenance Companies Do it Right
While it’s true that these companies won’t care as much about the property as you do, they do care about their reputation. They know they need to do things right- otherwise you’ll never use them again and possibly leave a bad review online.
Because these guys and gals are the experts, you can rest assured they’re more likely to do a good job than you are. Watching a few YouTube videos doesn’t make you an expert at replacing drywall or repairing a pipe- no matter what the YouTuber says.
Of course you can do even more research by buying books or practicing, but there’s something else you need to keep in mind.
Reason #2: Hiring Property Maintenance Companies Values Your Time
If you value your time and know how to use it wisely, it doesn’t make sense to spend your valuable time messing with maintenance issues. If you’re an investor, the whole point of having the property is to make money for you, right? And if you’re a property manager, your time is likely better spent doing other tasks like networking and looking for new clients.
This can be difficult to swallow, and some argue that DIY makes sense because it gives your life some variety. And while that’s true, you can probably find other ways to build variety into your life than painting walls, laying down hardwood or installing windows yourself.
Does this mean you should pay someone $50 an hour to paint? No, it needs to make economical sense. If you make $25 an hour at your job and can paint just as well as that guy charging $50, put on your painting clothes.
But in general, you have to consider what your time is worth. If you make $25 an hour at your job and the painter charges $25 to $30, you should invest in his service so you can focus on more important things.
Reason #3: The Property Maintenance Companies Will be Responsible
Have you ever tried to fix something around your home and messed it up? Maybe you tried to build a paver patio and it turned out uneven. Or you tried to fix a leaky faucet and somehow made the problem worse.
When that happens, guess who is responsible? Yup- you. This leads to more frustration, which isn’t what we’re looking for in a rental property. Your energy could be much better directed towards learning new property management software, finding tenants, etc.
If you hire a maintenance company or handyman to do the work, they’re responsible. Sure, you still own the home, but they should fix any problems they create.
Reason #4: It’s Not a One-Man Show
The problem with doing everything yourself or hiring a one person (like a handyman) to do investment property maintenance is it’s too reliant on a single person.
What happens when that person gets sick? Or their kids get sick? Or they run into an issue they have no idea how to fix?
These types of things don’t happen as often when you hire a team. Property maintenance companies usually work in teams, meaning they can put in the work even if they lose one or two folks temporarily. This may not be a big deal sometimes, but if you’re on a deadline and trying to get your property fixed up so tenants can move in, every day is money going right out that broken window.
Great property maintenance companies are an essential part of your team. It may take you some time to find one you love, but know the investment is more than worth it. Especially as your portfolio grows and you need to allocate more time to other tasks.