There’s an old saying that “Being a Landlord would be easy if it weren’t for the Tenants and the #*!)^?% Repairs.”
Everyone has their own ‘best practices’ on how they handle and organize maintenance requests from tenants. Some rental property owners just keep things simple and complete them as they come up in a first come, first serve process. Some use Excel. But that only goes so far….
Once a real estate investor has multiple properties, the permutation gets a bit hairier, especially when you factor into the issue the lack of skilled labor in the current market conditions. As a result, residential property managers, the true professionals, often use a triage system to determine order of completion. For example, a decision matrix such as the one below can be quite helpful in getting organized and staying organized.
This type of property management decision matrix helps to highlight and keep the most important things ‘the most important’. It minimizes decision fatigue when all Hell breaks loose, like in times of extreme weather conditions affecting HVAC and plumbing emergencies. It also will keep your rental homes occupied longer because your Tenants will be happier to stay there. Finally, it can illuminate where staffing levels, both internal staff and outside contractors, may be insufficient to handle certain categories of maintenance or make ready tasks.
If you’re a landlord looking to hire a professional property manager, it is a good idea to dive into some questions about how their company handles the various types of maintenance requests. Nothing will irk off your tenant quicker than unresolved maintenance requests or slow service response.
So when you hear the joke about repairs, you can now smile a bit easier with a better understanding that, like no two properties are the same, no two maintenance requests are the same.
Here’s to your pursuit of Financial Freedom with Rental Properties!
Executive Property Manager
Polaris Property Management, LLC