.One of the most critical services that a good Property Manager performs for their client, is making sure their Investment property is well maintained.
If you have qualified, happy tenants in your Emory area property, it is important to keep them happy and to handle requested repairs in a timely manner. Your investor's property is a valuable asset and regular maintenance will assure it stays that way.
Property Managers can schedule regular HVAC maintenance, annual termite inspections, or arrange for lawn service when requested. Managers often handle projects that range from simple repairs like replacing a garbage disposal or other relatively routine repairs, to overseeing major projects like painting, floor refinishing, roof replacement or other major remodeling.
Management Agreements for Emory area investors should include language that specifies how involved the Emory Property Manager will be in maintaining the property. It should also indicate whether the Manager has authority to order certain repairs without notifying the investor. For example, the Management Agreement might give authorization to the Manager to make minor repairs up to $200.
Before undertaking a major project, qualified property managers should obtain multiple bids and discuss them thoroughly with the owner of the property. Written permission should be given by the investor before any work is ordered, and a provision made for payment of the work clearly indicated. On large projects, the investor often pays by credit card or sends a check to the Property Manager. Any payments made by the Property Manager for repairs should be reflected on the Monthly Report and the Annual Year-end Report for tax purposes.
It is essential to have a signed Management Agreement that incorporates all of the provisions for maintaining an investor's property. If unforeseen repair or maintenance issues occur that are outside the scope of the Management Agreement, it is best to check with your owner for guidance.
Originally published 11/3/2016 by emorydecaturpropertymanagement.com.
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