If you’re a startup landlord, it could be tempting to do your own property maintenance. After all, you could save some money on repairs with the idea of increasing your profits. But does maintaining your rental properties always pay off? Are there solid reasons for hiring contractors to do maintenance work? Or is it best to hire a property manager to take care of maintenance tasks?
You may fancy yourself as a bit of a handy-person. And you’ve probably seen enough DIY shows to know your way around a toolbox. But is this enough to encourage you to do your own property maintenance? The question goes a little deeper than this.
There are some property maintenance tasks that you are probably capable of doing. However, this doesn’t mean you should rush to the sound of your tenant’s messages with wrench in hand. This article explores five key things to consider when deciding whether to do your own property maintenance.
1. Do you have the time?
Some rental property owners still have full-time jobs. Others can own and manage upwards of 20 or even 50 rental units. Regardless of the circumstances, you will be busy doing your own property maintenance. Ask yourself if you have the available time to handle each maintenance request.
On a similar note, you need to think about whether you can care for urgent requests promptly. For example, say you’re at your day job or some distance away. Is it reasonable to think you will get to your property quickly in the case of a burst pipe or no heat? How long will your tenant wait before they become agitated? Once you have thought about these two things, you can decide how much it will cost you to drop what you are doing to fix the issue.
2. Do you have the maintenance knowledge?
It seems so easy on the TV—right? Flip and fix contestants always seem to quickly learn how to patch up a wall or replace a damaged floorboard. What you rarely see is the team of professionals behind the camera teaching them how to do it.
Various tasks frequently crop up—like leaky faucets or a blocked drain. In this case, it is worth taking the time to learn how to fix the problem yourself. Trickier tasks can be harder to learn and require more time to master the skill, which circles back to the question of your available time.
Keep reading the article here: https://www.biggerpockets.com/blog/diy-property-maintenance
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