Property management and maintenance go hand in hand. It’s crucial to making your property investment journey as painless as possible.
It may not be your preferred bedtime reading material, but if you’re reading this, you’re probably one of the thousands of Australian property owners who struggle to feel in charge of their investment property’s maintenance and repairs.
Maintenance difficulties can quickly accumulate and spiral out of control. Plus, whether you’re a handyman or tradesperson, determining whether you’re paying a reasonable fee to replace that leaky tap or broken cupboard door can become a game of guesswork. If you win, there’s no award, but losing can cost you thousands of dollars over the course of your property’s existence.
As a result, property management and maintenance are in the driver’s seat when it comes to your experience.
Using our processes at Moye as an example, we’ll discuss what it’s like to use a property manager, including how property managers handle maintenance and repairs.
They should without a doubt do so. A property manager’s duties and responsibilities include the management of repairing and maintaining the property. Check the property management contract to make sure they do, as it should state that this is included in the service you’re paying for.
If the property management fails to take care of maintenance and repairs for whatever reason, we strongly advise you to terminate the agreement and seek new representation.
Including property maintenance in your managing authority is an essential, even if it means paying a little more. Otherwise, you won’t receive your money’s worth, as this is one of the most time-consuming tasks.
Why do so many Australian property investors hire a property manager to handle maintenance and repairs?
Property managers are used by 80% of property owners in Australia.
Property maintenance is almost certain to be one of the concerns you spend a significant amount of time on if you’re self-managing your rental property.
Property management and maintenance was cited as one of the top three challenges by 35% of the property owners we surveyed.
Repairs and maintenance are a major pain in the neck for DIY owners for a variety of reasons:
Having too many options, a lack of network and information, time constraints, and mental exhaustion make being a DIY property manager and doing property upkeep a difficult task.
Let’s discuss how utilising a professional agency for property management and maintenance can help you deal with maintenance issues in your rental successfully now that you know why self-managing your property maintenance is so difficult.
The main difference between you and a property manager is that property managers are full-time real estate professionals who are trained and have access to networks and databases that ordinary owners do not have.
Here’s a quick breakdown of the advantages of hiring a property manager to maintain your property:
Maintenance is a non-issue for a good property manager.
In addition, property managers do routine inspections to anticipate any forthcoming repairs, installations, or whether any old appliances need to be replaced. This allows you to budget for your maintenance costs ahead of time, eliminating any unpleasant surprises.
Overall, hiring a property management and maintenance agent is a terrific method to ensure that your property is well-maintained while also allowing you to focus your time and attention on other things.
The majority of property managers will handle maintenance requests in the following way:
Keep in mind that not all property management companies include this in their costs. To find out how much it will cost you, look at the price structure in your property management contract.
Tip: Property managers who charge you more for handling property maintenance on top of the tradie price are not providing you with good value, not even close.
When you acquire a property maintenance quote, whether you’re a self-managing property investor or you hire a property manager, there will always be an element of unpredictability.
It’s tough to tell if you’ve discovered a tradie who is trustworthy, fair, and transparent, or if your property manager has been attentive in obtaining your property maintenance quote.
The best approach to determine whether the maintenance price is reasonable is to have a decent sense of what various property maintenance issues and repairs should cost as a baseline and compare it to the quote you received.
So, what does it cost to hire a property care company? Here’s a rundown of the most common repairs and maintenance services, along with an estimate of how much they’ll cost:
Keep in mind that these costs will vary based on the problem, where you reside, the type of property you have, and other factors. Use it as a guide to see if you’re obtaining a reasonable quote for property maintenance.
When we send you maintenance and repair bids, we apply a data-driven approach to property maintenance in addition to a trusted network of tradespeople.
In a nutshell, this implies that we previous data and experience to estimate the cost of each given maintenance service. For example, 80 percent of “jammed lock” maintenance requests we dealt with in the past cost $180 or less. We would never provide you a $300 quote for the same repair in that instance!
All of our maintenance requests are handled through the renter and owner app/portal and email, making the process easier for everyone involved. You can read about Moye and our vision to understand more about how we do things.
These factors combine to ensure that 98 percent of maintenance requests are assigned to tradespeople within 24 hours, that you receive a reasonable maintenance repair quote, and that you have peace of mind when it comes to your investment property.