The inflation rate in June 2023 slowed to 3%. But even with inflation slowing somewhat, rental property prices continue to rise. Rising rent is good for landlords, but inflation also affects your costs.
Even though costs are going up, caring for your properties is vital. If you're having trouble caring for them, hire it out. Maintenance is a task you should prioritize.
Some companies offer building maintenance services, which are essential for every landlord. Caring properly for your properties helps you attract better tenants. It also helps you collect higher rent.
Here are some tips to help you know what to look for when hiring a company for building maintenance services.
Look for Property Management Companies
First, you'll need to know where to seek building maintenance services. The best place to start is with property management companies. A property management firm handles rental property owner tasks.
These companies do this to help landlords complete the necessary tasks. This includes rent collection and repairs. They also do this to alleviate a landlord's stress.
After searching for local property managers, you'll find a few to consider.
Ask About Their Building Maintenance Services
Next, ask each company about its building maintenance services. For example, what service schedule do they use? They can show you an example or explain it.
Ask about their priorities and focuses. You might also discuss the purpose of good building maintenance.
Good building maintenance helps landlords in several ways:
- Alleviates stress and work
- Keeps the properties nicer
- Increases property values
- Attracts good tenants
- Prevents major repairs
Well-maintained properties hold their value. In fact, a property's condition greatly affects real estate valuation.
Drive by Other Properties
A building maintenance team can give you the addresses of the properties they currently manage. You can ask for a list if they don't offer it. Then, you can drive by the buildings.
When driving by, you'll notice how well the property manager handled the apartment maintenance.
For example, does the building look clean? How about the yard and sidewalks? You'll know the company does well if the property looks great.
Consider the Costs
Finally, consider the residential property management firm's costs. Do they charge a specific fee by unit? Does square footage matter?
The best way to answer this question is to ask for a quote. Give the company a list of your properties. The company will consider your property types, conditions, and sizes before issuing you a quote for their services.
You can then decide if you want to move forward with hiring the company.
Contact a Property Management Firm
Building maintenance services are vital for every landlord. These services help your properties look nice and attract higher-quality tenants. They also help your properties retain or increase in value.
Are you ready to start properly maintaining your rentals? If so, contact us at Kerr Properties, Inc. in Portland, OR, to learn more about our services.
We are a full-service property management company. We can help you with your maintenance tasks and much more.