Being a landlord is never easy, but having a property manager can really save you big, not just in time, but in money spent on maintenance and repairs. There are a few ways that they can do this. One way that a property manager or property management company can save you on repairs and maintenance is by their relationships with vendors. Another through the economies of scale for items that are used often.
Maintaining and repairing your property is important, not only to keep your tenant happy, but also to keep the value of the property. Most property management companies either have in-house staff for maintenance, but also have relationships with contractors and vendors who can provide repairs when needed. Reputable property managers will vet their vendors and staff, making sure they are licensed, bonded and insured contractors. Depending on the number of properties they have those relationships can translate into sizeable savings through volume discounts.
Volume discounts for the contractors also works for things needed for maintenance as well. Items like paint, filters for heating systems, construction items, cleaning products and whatever else may be needed to keep up your property can be bought at a big discount in bulk. Even if you found a way to purchase items in bulk yourself, where would you store it all? At the property? Would that be an issue for your tenant? Since they need the same things for all the properties they manage, the management company will have their own storage place off site from your property.
Using a property manager or property management company is a smart idea. It will save you time and money and keep your property in tip top shape. Isn’t that what you want in the first place?