It's incredible to know that over 46% of housing units in Las Vegas are for renters.
Owning a rental property is enticing, but tasks like repairs can make the job tricky. This gets even more confusing when it comes to figuring out who's responsible for footing the bill.
Do you need help with rental property management? Read on for the ultimate rental property owner maintenance guide.
Who Pays for Rental Property Repairs?
In general, the responsibility for paying for repairs depends on the cause of the damage or wear and tear. Here's how it typically works:
Damage Caused by Tenants
Is the need for repairs a result of tenant damage or negligence? This could include the following:
- A hole in the wall
- A broken window
- A clogged drain due to misuse
This is usually the tenant's responsibility to cover the cost.
Normal Wear and Tear
Rental property maintenance is inevitable due to normal use over time. This could include the following:
- A worn-out carpet
- An old water heater breaking down
- Paint that looks dull
Property owners should take care of these issues.
Issues Caused by Landlords
Is the repair necessary due to issues originating from the property itself or the landlord's negligence? This could include a leaky roof or faulty wiring. The landlord is typically responsible for paying for these repairs as well.
Rental Property Company Responsibilities
A property management company often takes the reins when it comes to maintenance. Their responsibilities and obligations can vary depending on the terms of the management agreement you have in place, though. Here are some key aspects to consider:
Property management companies often coordinate and oversee maintenance and repair work. They'll communicate with tenants to assess and document repair requests. Then, they'll hire qualified contractors to perform the necessary repairs.
Many property management companies conduct regular property inspections to identify maintenance needs and potential issues. This proactive approach can help prevent massive and expensive repairs.
Property management companies need to take immediate action to address any emergencies, even if they are outside of regular office hours. This could include no heat during the winter or a burst pipe.
Budgeting and Expense Management
Property managers can also assist property owners in budgeting for maintenance and repairs. They can provide cost estimates and help owners plan for future expenses.
Rental Property Maintenance Checklist
Schedule periodic inspections to identify and address maintenance needs early on. Provide tenants with emergency contact information for property management or the landlord for urgent repairs.
Clearly outline tenant responsibilities in the lease agreement to avoid disputes over damage versus regular wear and tear. Work with your property management company to plan and budget for maintenance and repairs throughout the year.
Ensure that repairs are addressed promptly to maintain tenant satisfaction and protect the property's value.
Do You Need Help With Rental Property Management?
Property managers in Las Vegas are responsible for coordinating and overseeing the maintenance and repair needs of rental properties. The financial responsibility often depends on the cause of the issue, though. With this rental property management guide, you can navigate repairs with ease.
Would you like your job to be easier with the help of a property management team? Contact Avalon Realty and Oaktree Management to hear how our incredible solutions will help.