Relationships are what many businesses are built on or what many businesses lack. When networking with fellow real estate investors many relationships are often discussed such as rehabber and wholesaler, buyer and seller, lender and borrower, even the often infamous relationship between tenant and landlord. However, the relationship discussed in this article is commonly overlooked the relationship between landlord and maintenance man. In my personal experiences to become a successful landlord or property manager this relationship is crucial. Your maintenance guy or gal should be as close to you as Batman is to Alfred. I’ll give you three reasons why.
- 1.) Repairs done currently and in a timely manner often lead to tenants renewing their lease. One of the main reasons a tenant chooses to stay or leave or renew a lease often times has something to do with repairs. Frequently when I talk to tenants on why they left their previous residence it is often due to the maintenance or lack of it. The repairs that need to be completed on the home need to be done in a timely manner so your tenant feels as if they have a voice in the situation. Also because in some cases a small unsolved repair can lead to a bigger headache down the road. A leaky faucet, an unclogged drain, a non-working electrical outlet should not be the reason a paying tenant leaves your property.
- 2.)Your Landlord-Maintenance Man relationship cuts down on repair costs. A good maintenance guy or gal can actually cut down on a lot of repairs needed to be outsourced to different contractors who specialize in different areas. If our maintenance guy or crew can repair the sink, replace sheetrock, and tighten down a loose toilet without calling a plumber and a contractor then we actually put some cash back into our pockets not to mention some time. Maintenance professionals are often paid by the hour or a daily rate and in many cases are looking for your call. The repairs are done at a fraction of the price it would cost if you had to hire a plumber and a contractor to do the same repairs
- 3.)Fast and Quality repairs can make you look like a professional. Tenants love to feel that you have a great team working with and for you. A huge plus to your credibility is when a tenant calls at 2Pm and their repairs are fixed by 4Pm. The fast reaction and customer service often is a big factor in a tenant staying or leaving your rental unit. This type of response often leads to a renewal of the lease and hopefully a referral or two. Also if they like your maintenance crew that is a huge plus. Many of our tenants have asked how our maintenance guy is doing when we collect rent and acknowledge they missed him when he was out with an illness. The feeling of team is a strong factor in keeping a tenant. Instead of feeling you are alone against the world try thinking of it as a team effort. The team effort approach has worked for us and has given us increases in renewals and less complaints from tenants. Now let’s a win-win for everyone. So don’t forget to tell your maintenance crew thank you every once in a while. You might even throw in a bouquet of flowers LOL!.
As always thanks for reading and successful investing.