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The Price You Pay- Maintenance Expenses

maintenance expenses landlord article

When it comes to maintenance of rental properties and the many other expenses that come along with them, of course we would all love to spend the least amount of money as possible. It may make us feel like we are getting a larger return. But beware, there may be a bigger price to pay when you choose to pay the lower price!

If an appliance such as an AC or water heater were to break, it’s important to act quickly. While we want the tenant to be comfortable and back to normal in no time, we also want to be sure the repair is executed properly. Especially for those big ticket items, you would like the peace of mind that what you are paying is fair and reasonable. We all know that the only thing that should ever be ripped off is a band aid! Surprisingly, the amount of time it takes can also turn out to be just as expensive.

One issue that can cause a long repair response time is a home warranty. For example, an AC breaks in the middle of summer. A certain part is needed, but the home warranty cannot get that part for another ten days and after it finally comes in, it may be another two days before the appointment can be scheduled for installation. That is an unreasonable amount of time to make a tenant go without AC. Chances are, your tenant is going to want to stay somewhere else in the meantime. They may also seek reimbursement for their expenses along with a rent abatement. So, while you think you are only paying the minimal service fee to the home warranty, you may also end up losing a few hundred more dollars depending on the amount of rent and expenses you agree to credit. After that all adds up, it’s that likely you could have saved a bunch of time, hassle, and money had you chosen for a vendor outside of the warranty company to make the repair the same or next day, for $200 or less in most cases that we’ve seen. You keep a tenant happy as well!

Such an ordeal can leave a bitter taste in the tenant’s mouth. It may also be one of the main reasons they feel the need to vacate upon lease expiration which will result in a vacancy and additional turnover expenses. Was waiting the extended amount of time to try and save some money worth damaging your relationship with your tenant? Valuable time may also be wasted if you require multiple estimates for a repair. Two estimates can usually give you a good idea of what you can expect to fork out, but wanting to get three or four estimates not only increases the repair time, but also increases your tenant’s frustration.

Many factors contribute to the relationships we have with tenants. The most common feedback we get from tenants includes the condition of the properties they live in, communication, and maintenance request response times. We work every day to improve in all of those categories and we act as a liaison and at times, a mediator, between you and the tenant. While we represent you, we do make sure we are providing an objective outlook on all situations so things may be handled as quickly, efficiently, and as smoothly as possible. Just keep in mind that sometimes you may need to pay a little more to have a little less trouble with your tenant/landlord relationship.

#1 in Pensacola Property Management and Leasing! 
Rental Office 4400 Bayou Blvd. #58B, Pensacola, FL 32503  (850) 473-3983 www.PensacolaRealtyMasters.com
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10-21-2019
Erica Parker
Maintenance Expenses
10-23-2019

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