1836 Blog

About Property Management – Lesson 4

I’m reading a Realtor blog online and  the discussion is about whether the landlord has to fix a garage door that has broken due to age, electrical outlets that are not working and something else.

WHAT!!!!!!!! How is this even a discussion among the informed?

We as investment property owners are providing a product in exchange for money. We are also providing customer service to retain our customers, lower our costs and increase our overall return.

1. Ignoring problems doesn’t make them go away whether here in Austin Texas or in your city.

2. If you decide to be a slum lord expect slum tenants. We have made the decision this isn’t an option.

3. Liability. This should be self explanatory.

4. Customer retention. It costs at min. one months rent and probably closer to two months rent to turnover tenants. As they say “it’s cheaper to keep her”. Don’t lose quality paying tenants because you want to save $200 today. It will cost you $2000 tomorrow.

5. This is your (the investors) house we’re talking about. If you let the roof cave you will have to deal with it, not the tenants. Putting off the repairs isn’t going to make them go away and putting of the majority of them will only cause more damage. An example of this would be rot around exterior doors. Not repairing the rot or failing to maintain quality paint on a house only leads to more damage.

In summary: Do the right thing! Trying to put everything off on the tenant or ignoring problems doesn’t make them go away. So to speak…it may make the tenant go away. =)

For the best property management company in Austin Texas call us today. If you’ve got a problem we can fix it.

www.1836propertymanagement.com