Prince George's County is an excellent place to own investment properties. The county is home to a thriving technology and aerospace sector and offers residents a high quality of life.
Yet, being a landlord is more complicated than finding an area that appeals to prospective tenants. You have many time-consuming responsibilities when you own an investment property.
Property management services can help you reduce the time and stress involved in owning rental units by undertaking maintenance coordination on your behalf.
Read on to explore what's involved in this service and who pays for property maintenance in Upper Marlboro, MD.
What Do Property Management Fees Cover?
Property management companies offer comprehensive services to help landlords thrive. The average property management fee breakdown includes things like:
- Tenant screening
- Property marketing
- Rent collection
- Lease administration
- Property inspections
They can also offer much-needed advice, answer questions you have regarding prevailing landlord-tenant law, and assist with evictions if needed.
Maintenance coordination is one of the most important services performed by property managers.
What Is Maintenance Coordination?
Maintenance coordination involves managing every aspect of rental property upkeep. Property managers arrange for routine tasks like:
- Roof inspections
- HVAC services
- Painting
- Move-out cleaning
They also address tenant maintenance requests and conduct regular property inspections to check the condition of your property. These inspections are important for detecting minor maintenance issues early so they don't escalate into more serious and costly repairs.
You can request that your tenants undertake some maintenance tasks, such as lawn care. You must state this expectation clearly in the lease agreement.
Conscientious maintenance ensures your tenants' convenience and can encourage lease renewals. Well-maintained properties also attract more tenant applications and allow you to charge a higher rent.
A property manager will source and compare quotes from local contractors, negotiate great prices, oversee the work, and arrange for payment of any resulting invoices. Often, their ongoing relationships with these suppliers can yield superior service and prices.
Who Pays for Rental Property Maintenance Costs?
Although property managers are instrumental in keeping your property in tip-top shape, they don't pay the costs associated with maintenance. Tenants only pay for repairs associated with damages they cause beyond normal wear and tear.
The property owner is always ultimately responsible for maintaining their rental units in good condition. You can pay maintenance expenses upfront or set up a maintenance fund for your unit and give your property manager access to these funds.
In some cases, your property manager will pay the necessary bills and deduct the costs from your rental income.
Hire Property Management Services in Upper Marlboro
Maintenance coordination is vital to ensure legal compliance and keep your property in excellent condition. It's a time-consuming process that's best undertaken alongside a team of property experts.
PMI EXPerience is a full-service property management firm backed by a growing national franchise. Our inclusive property management fees include tailored property management solutions for Upper Marlboro landlords.
Let us help you preserve the value of your property, limit vacancies, and increase your profits.
