Why Landlords and Property Owners Need a Good Handyman!

Unexpected problems that need to be addressed very quickly will always happen in a rental property. How you tackle unforeseen events will impact the overall financial performance of your investment property, advises State Property Management.

There are two ways to deal with maintenance issues in a rental property. The first method favors short-term savings but will often result in future losses. The alternative method ensures long-term savings even if its short-term costs are higher.

The first strategy focuses on cost-cutting; each new maintenance problem is viewed in isolation. When issues are dealt with, the emphasis is on getting stuff to work rather than preventing recurrence by addressing the root cause of the problem.

The second strategy takes a holistic view of the maintenance issues in the building. Instead of waiting until problems happen, the rental is maintained on an ongoing basis, and its structures are under constant watch to minimize problems.

• The first strategy is known as corrective maintenance.

• The second strategy is called preventive maintenance.

Given the evident benefits of a strategy that detects problems before they happen, why would a landlord or property manager opt for a corrective maintenance strategy? It is because the laborcost of hiring a professional handyman on an ongoing basis is higher.

Landlords and property managers sometimes think they save money by forgoing to have a service agreement with a competent handyman. Yet this single decision is often the sole factor that may determine how desirable or undesirable a rental property is to new and existing tenants.

Why do landlords and property managers need a competent handyman?

1. Consistent service quality

Nothing upsets tenants like shoddy treatment of maintenance issues. Such problems are common when amateurs handle the building’s maintenance problems. It also happens when managers or landlords do not have a specific qualified individual to work on issues. But you can get consistent quality by hiring a good handyman. Over time the handyman will come to know the building intimately, allowing him to solve problems quickly. The tenants in the property will also come to take this level of service for granted, and they will be more likely to remain in the rental.

2. Take control of maintenance costs

It is impossible to avoid the high cost of maintaining a rental property, but you can choose where you place that cost. You can pay that cost upfront by hiring a good handyman to make sure maintenance issues are minimized. Or you can defer that cost by waiting until you have maintenance emergencies in the building. The benefit of the first option is that it offers a certain degree of control; you can almost predict what will go wrong in your building. The second option puts you at the mercy of wear and tear or random acts of nature.

3. Professional advice

When you hire a handyman, it is not solely for their ability to fix problems in your building. You also hire a handyman to gain access to their network and experience. Handymen are always in touch with developments in their industry, and they can give you advice that will help you make or save money, keep your building up-to-code and implement changes that will make the rental more attractive to tenants. A handyman can give you timely updates on trends that shape the future of housing because they are often more in touch with events in the industry.

4. Quick and preferential service

A handyman will bump their most loyal customers up the queue during emergencies. For instance, during winter storms when handymen are scarce, you can be sure of prompt service because the handyman will put you ahead of occasional customers. Handymen get volume discounts from suppliers on critical spare parts and supplies. Because they are bulk buyers, they also get preferential treatment from suppliers and manufacturers. As a result, handymen are the first to get access to scarce supplies. They can, in turn, pass those lower costs and scare spare parts to their trusted customers.

5. You can do more with your time

You are never quite sure what to expect when you hire an amateur. Even though you have hired someone to deal with the rental’s issues, you will find your mind wandering back to the problem. That does not happen when you have a service contract with a competent handyman because the technician’s track record allows you to focus on other issues. A good handyman gives you the gift of peace of mind and time.

When it comes to the cost of maintaining the physical structures of your rental property, the most crucial factor is not the quality of those structures but the competence of the person who maintains them.

That is why finding and hiring a good handyman should be one of the focal points of your rental’s maintenance strategy.