You’ve done it, taken a big leap, put your property on the rental market. The house is ready, looks good, and is going for top dollar in the market because it’s worth it. The applications are pouring in, and you’re feeling good about finding a good tenant.
Have you hired everyone you’re going to need to help maintain this property for you? Take a look at this list and make sure you find the best people for the job.
When there’s a big leak or a busted pipe, the tenants will call you. You need a professional who can fix the problem and make sure it stays fixed.
The lights go out. An outlet or two stopped working. Only a certified electrician should handle that kind of job or you may have to worry about a house fire.
When the roof needs repair, the handrail to the stairs is wobbly, and other parts of the property need fixing, a good general contractor will make sure everything’s fixed and up to code.
HVAC Service Team
The air conditioner/heating system must be serviced twice a year to make sure it continues to work properly. Tenants must have heat in the winter, and any Floridian knows, no air conditioning in the summer is brutal. Plus, if you do need a repair, it’s better to have someone you trust who can take care of the problem.
Lawn and Landscape Crew
Have a certain standard you want your lawn to meet? Did you promise lawn maintenance as an amenity? Start looking around and narrow it down to the best crew you can find at a reasonable price.
Termites, ants, and other bugs can ruin your property and bring down the quality of living in (and value of) your rental. Routine pest control is a must. When there’s an infestation, you’ll be grateful for your pest control company.
Pool Maintenance Crew
The day-to-day cleaning of the pool may be up to your tenants but when the pump breaks or the chemicals need to be adjusted to keep it safe, you’ll need to call the pool company.
Got a tenant who still won’t pay the rent? Hire a bill collector who will hound them (legally) until you can go through the eviction process.
You need an accountant to help you keep up with how much income you’re receiving from your tenants, your expenses for property maintenance, repair, and upkeep, and who’s paid and who hasn’t.
Don’t buy a blank lease from an office supply store. Certain clauses may not be included that you really want – no pets, no smoking, etc. Instead, you’ll need an attorney who can write up a lease that fits what you want and stays within the law so that if your tenant violates the lease, you’ve got a leg to stand on in court.
That’s a lot of people to interview, compare, and ultimately hire. It’s also a lot of money to pay each month for their services. If you have more than one rental property, your costs will be higher. Of course, you could always hire a property management team like the one at ERA American Real Estate. We’ve got the contacts and the vendors, and our attorneys have already looked over our lease agreements. You can focus on what matters – growing your investment income.