To stand out in real estate investing, managing property maintenance and repairs effectively is key to providing a rental home that tenants would love. There are many aspects to doing so, including making upgrades, keeping a clean home and performing regular property maintenance to ensure that everything is in working order.
Just like owning a home you personally live in, there are times when property maintenance and repairs are necessary to address issues before they become major problems. This is one of the key tasks that a property management company should handle for you at your rental property.
Staying on top of these repairs are essential to become and remain profitable. But, if you’re not hiring the maintenance professionals and managing the property on-site yourself, how can you stay on top of property maintenance and repairs?
Below, we’ll discuss how 1836 Property Management tracks repairs, creating an easier process for tenants to report issues while also enabling transparency for all of our clients.
How We Handle Property Maintenance Requests
Investors identify property repairs in real estate investing in two main ways.
The first is through regular property walkthroughs, which can be carried out by the rental property owner (as a self-managing landlord) or property management company.
The second — and most common — way is through tenant requests. After all, the tenants are the ones who are living inside the home everyday, and therefore will often be the first ones to spot potential issues.
At 1836 Property Management, we make the process of reporting these issues easy. We provide an online resident and investor portal where all users can submit maintenance requests for our designated maintenance department to track and manage.
Once someone reports an issue, we create an electronic work order and email it to the most appropriate vendor. We have long standing partnerships with many different experts in the local Austin region, which helps us to get on top of maintenance requests as soon as possible.
This is an extremely important aspect of real estate investing. Not only does it ensure that minor issues don’t become major problems at your rental property, it also increases your property value and tenant satisfaction.
What Happens Once Work Orders are Created
Creating a work order and matching a maintenance request up with the proper vendor is just the first step in the process.
After this happens, our management software creates due dates for property maintenance requests so that everything is organized properly. This helps us see task deadlines and follow up on progress.
The software helps us track vendor confirmations for scheduled dates, follow up after the job to ensure completion, and check in with investors and residents when we need additional information or approval.
Our management software provides status updates so we can see where we’re at in the process, and so our real estate investing clients are up-to-date as well. Status will range from New to In Progress, Completed and Closed.
We can also assign priorities to set urgencies to particular job requests such as Low, Normal and High.
Other Benefits of Our Property Maintenance Software
One of the biggest benefits of our property maintenance software is the ability to manage property maintenance and repairs step-by-step, from request to completion. Having this level of tracking is excellent not just for us as the property management partner but also for all of our real estate investing clients.
In addition, the software promptly addresses the resident’s needs and ensures professionals complete any necessary repairs.
Not only that, but the property management software we use allows us to review invoices once we receive them from vendors so we can ensure that the services completed are accurate. Then, we can easily approve and pay them once they’re ready.
This keeps the entire process smooth from start to finish — beginning with the resident’s request and ending with the vendor’s payment.
Partner with 1836 Property Management
Staying on top of property maintenance and repairs is essential if you want to be successful in real estate investing. Not only does it protect your rental property itself, but it also helps put you on good terms with your residents.
At 1836 Property Management, we have perfected our property maintenance process and created an easy-to-use and transparent online portal that helps residents and real estate investors get what they want and need, in a timely manner.
By partnering with us, you can benefit from the years of experience that our professionals have, the trusted vendor relationships we’ve maintained, as well as the many different technological features that we offer our real estate investing clients.
For more information, please contact us today (512-994-4323).