Owning rental property can be confusing at times. Having a property manager as part of the equation can be great, while at the same time it isn’t always entirely clear what falls within the scope of their role, what does not, and what costs the owner still has to pay for. Maintenance is certainly one of the key expenses in which this is a question. So do property managers pay for repairs? Good question.
The short answer is no, not technically, but that doesn’t mean it is paid by the landlord or owner either. So it depends. As a central voice of rental property management in Northern Virginia and elsewhere, we advocate for transparency and clear responsibilities for all clients. There are a mix of comprehensive property managers out there along with many who do not include repair and maintenance costs as part of their pricing structure. Let’s dive a little deeper to explain this matter more. In this article, we will explore the following:
- Do Property Managers Pay for Repairs? – Let’s answer the question right away, while also allowing for some nuance and clarifications.
- Benefits of Having a Property Manager Handle Repairs – We will go over why many people choose property management services no matter what.
- FAQ – We will explore some of the frequently asked related questions that many have on this topic.
- Look to BMG to Handle It All – Finally, we will go over why hiring Bay Property Management Group might just be your best option.
Do Property Managers Pay for Repairs?
Property managers do not directly pay for repairs to rental property. On the other hand, they are responsible for the repairs. That means making sure repairs are carried out. They generally are accustomed to having a list of professionals a phone call away to assist with any maintenance needs.
But there is a caveat. Because property managers are in charge of “taking care of repairs,” this may or may not include putting aside money for repairs. Many property management companies set up a reserve fund over time so that there is money that can be used when a repair is needed. This might be part of what you hired a property manager to do. So, while the direct answer to the question is that property managers are not responsible for paying for repairs, there are some things to clarify before owners immediately assume they need to pay for it.
Benefits of Having a Property Manager Handle Repairs
If you’re asking yourself do property managers pay for repairs, you might be wondering just what the role of a property manager is in regards to repairs. They are “in charge” of repairs, even if they do not pay for them. The fact is, there are many day-to-day benefits to having a property manager. Many owners would not even think about getting by without one. So why?
Owners and property investors appreciate the expertise that property managers bring. Property managers not only manage the most common repairs and maintenance so that owners do not have to, but they oversee just about every part of the management of the property, from finding new tenants during vacancies to optimizing the costs so that there is a good ROI for the rental property. A property manager comes with the peace of mind that someone is looking out for the best interests of the owner in so many different ways.
FAQ
Who finds the contractors for repair and maintenance work?
While a property management company may not pay directly for repairs, they still manage the overall process and make sure that repair work is done in a timely manner. They’ll have a list of contractors they work with or look for a contractor as needed.
If tenants or owners have had a great experience with a contractor, they can always have the property manager keep them on the list. In the same vein, owners can request that property managers not deal with certain contractors if they didn’t like working with them in the past.
Can I make a tenant pay for repairs?
In many cases, you can’t make a tenant pay for repair work since it’s part of the property manager’s job. It can be helpful to go over an overall landlord-tenant responsibility checklist since it can vary some. Still, though they are not typically responsible for them, tenants need to do their part in maintaining the unit or home. Tenants are liable if they damage the property in some way, even if it is through negligence.
Look to BMG to Handle It All
No matter how many properties you own, if you don’t want to manage the issues that come with the day-to-day tasks, consider the alternative. At Bay Property Management Group, our team of professionals has the experience, tools, and dedication to manage your properties efficiently. Our property managers in Northern Virginia are ready and willing. If you’re asking do property managers pay for repairs, you’re probably just the type of person who could use our help!
So, if you are looking for property management in Fairfax, Boston, Atlanta, Baltimore, Philadelphia, Washington DC, Northern Virginia, or other surrounding counties, give us a call. Contact us today to learn more about how professional property management can make rental ownership the enjoyable experience it should be.
