A landlord who fails to make repairs risks not receiving rent from a Bethesda, Maryland tenant. Tenants can pay their rent into an escrow account rather than paying the property owner until their maintenance issues are taken care of.
You can prevent disputes regarding maintenance and repairs by coordinating maintenance in advance. Hands-off landlords can also work with a property manager who handles maintenance coordination.
Keep reading to learn how to master the art of rental property maintenance and repairs.
Know Your Responsibilities
As the landlord, you likely have the most responsibilities when it comes to rental property maintenance coordination. Maryland property owners must provide renters with basic utilities to comply with habitability laws.
The tenant is still responsible for regular upkeep and cleanliness.
When a plumbing, electrical, or heating issue arises, make sure tenants know to contact you right away. The quicker you catch a problem, the less expensive it will be.
Schedule Preventative Maintenance
An investment property requires ongoing maintenance. Landlords should schedule seasonal maintenance and inspections to catch minor problems.
Periodic inspections may include winterizing doors or checking HVAC filters in the spring. It's smart to check a unit before a new tenant moves in as well. A property manager can tackle preventative maintenance for you.
Be sure to schedule a time that works with the tenant beforehand if you must enter the unit. Even though you own the property, you can't barge in without consent from the tenant.
Don't Lose Your Receipts
When you work with property management services, they will likely hire outside contractors to handle maintenance and repairs. Be sure to keep these receipts for your records.
A Bethesda landlord can use certain projects to reduce their tax liability. Not all repairs will qualify as a rental property tax deduction. A tax professional or a property manager with accounting experience can help you with this task.
Create an Emergency Fund
You should know how much rental property upkeep will cost you as you own your property for longer. However, emergency repairs can arise that you aren't prepared for.
An emergency can quickly get you into the negative. Don't let all of your hard work as a landlord get trampled by a maintenance issue. Instead, always prepare for the worst with an emergency fund.
You should set a portion of your monthly income aside into a reserve fund. A property manager can use this fund to pay for repairs and maintenance that might be more expensive than you forecasted.
Let Us Handle Maintenance Coordination
For professional maintenance coordination that you can rely on, work with PMI Capital Region. We are a full-service property management company with over 20 years of experience in the industry.
We help Bethesda landlords maintain their investments, communicate with tenants, and hire vendors.
We offer 24/7 maintenance for immediate services and non-emergency requests. With an online owner portal, you get real-time updates on repair progress and expenses.
Let us handle the negotiations with contractors. We find quality work to ensure tenant satisfaction for less! Contact us today to get started.
