Tulsa is a force to be reckoned with in the aerospace industry, which creates thousands of jobs in the area and makes the city an excellent choice for savvy property investors.
Yet, owning an investment property involves more than identifying a promising market. You must carry out numerous tasks to ensure you thrive as a landlord. Maintenance coordination is one of the most time-consuming of these duties.
Hiring a property management company helps you cope with these demands. One question many property owners often ask is, "Do my property management fees cover rental maintenance?"
It's essential to clarify this aspect if you're considering hiring a property management service. Knowing what services are included in the fees can help you budget more effectively and avoid unexpected expenses.
Understanding Property Management Fees
Property management fees vary widely based on location and the services offered. In the Tulsa area, property management fees typically cover a range of services, but it's crucial to understand exactly what is included to avoid surprises later on.
Most property management companies include basic services in their fees, such as:
- Marketing and advertising the property
- Tenant screening and selection
- Collection of rent
- Regular inspections
- Coordinating maintenance and repairs
It's essential to ask your property manager how much rental maintenance coverage they offer. Some companies may include maintenance coordination in their management fees, while others might charge additional fees for repairs or maintenance services.
What Is Rental Maintenance Coordination?
Rental maintenance involves repairs and upkeep to ensure the property remains safe and habitable. This can include:
- Routine inspections
- Seasonal maintenance, like snow removal
- Responding to tenant maintenance requests
- Emergency repairs, like HVAC issues
- Overseeing tenant maintenance responsibilities
Property managers usually coordinate these activities on behalf of the landlord. Depending on your contract with the property management company, these activities may be included in your management fees or charged separately.
Budgeting for Maintenance Costs
Understanding the total cost of property management helps you make informed decisions as a property owner by enabling you to set aside additional funds for these property management costs. Here are some tips on how to budget for these expenses:
- Estimate annual maintenance costs based on property size and age
- Account for emergency repairs by adding a buffer to your budget
- Review past maintenance expenses to gauge future costs
- Communicate regularly with your property manager about maintenance issues
This type of planning helps you avoid financial strain and ensure your investment property remains in excellent condition.
Making an Informed Decision
Whether property management fees cover rental maintenance depends on your agreement with the management company. In the Tulsa area, many full-service property management companies offer these services as part of their packages.
However, you must clarify their property fee breakdown, so you know what is included in these landlord expenses.
Your Partner in Property Management
If you want seamless management with minimal hassle, consider partnering with a reputable property management company, like PMI Realty Solutions.
We prioritize transparent communication regarding our comprehensive maintenance coordination offering. Not only can we handle your rental maintenance needs, but we can also maximize your investment's value.
Our services at PMI Realty Solutions are focused on customer satisfaction, and we're here to ensure your property is well taken care of. Contact us today to learn how our comprehensive management services can benefit you!
