Massachusetts has a rental vacancy rate of just 2.5%, making it one of the best places in the USA to invest in rental property. It also means that being a landlord in this state can be a busy and sometimes stressful undertaking.
Property maintenance is one of the most time-consuming and expensive aspects of rental property management, and hiring a property manager can help you alleviate some of the work involved.
Signing up with a property management company can help you save time on maintenance coordination and a host of other responsibilities, but the fees you pay for this service don't include maintenance expenses.
What Do Property Management Fees Include?
Property management companies offer various types of services to suit Massachusetts landlords. Full-service property management is the most comprehensive option and usually includes the following:
- Rental valuations
- Property marketing
- Tenant screening
- Lease management
- Property inspections
- Tenant communications
- Rent collection
- Maintenance coordination
Some property management firms also offer eviction protection services and can also assist you with legal guidance when required.
Maintenance coordination is one of the most important of these services. It helps preserve the value of your investment property, keeps your tenants content, and reduces the costs associated with owning a rental property.
Maintenance Coordination 101
As a landlord, you're expected to maintain your rental properties in line with the implied warranty of habitability. This requires constant vigilance and ongoing property maintenance.
Maintenance coordination helps you keep up-to-date with necessities like:
- Annual roof inspections
- Gutter cleaning
- Landscaping and lawn care
- Testing safety equipment like smoke detectors
- Servicing HVAC systems
- Pest control
A property manager will oversee these tasks, source the best prices, and keep detailed records of the work done. They don't pay the bills, but they can arrange to deduct any amounts due from the rental amounts owed to you, if preferred.
As the property owner, it's your responsibility to settle the amounts owed for work done on your property.
Property managers also carry out routine property inspections to check on your property's maintenance needs. These visits ensure tenants comply with their lease agreements and help them detect any necessary repairs.
Using a checklist, they inspect your property inside and out and attend to any small maintenance issues promptly. In this way, they help prevent small issues from escalating into major repairs.
They attend to tenant maintenance and emergency repair requests promptly to limit further damage.
Streamline Your Property Management Tasks
Effective maintenance coordination is the key to keeping your costs low by preventing unexpected repairs and replacements. It helps you comply with the law and encourages lease renewals through tenant satisfaction.
PMI of Greater Boston can assist you with a wide range of property management services, including maintenance coordination and property inspections. We are backed by a growing franchise with over twenty years of experience in real estate, and we have all the necessary skills to manage your property most effectively.
Say goodbye to your property management woes today and explore the benefits of owning a successful rental business.
