Managing rental properties involve several key elements to run successfully. Of all the duties that a property manager handles, specific skill-based maintenance and repairs are not on the list. Instead, it is the job of the property manager to source reputable investment property contractors to professionally maintain or repair the property that you are managing. To ensure that you are not overcharged and that the task at hand receives the proper remedy, finding the right investment property contractors is crucial. To do so you must first understand what type of contractor you need, what to look for, and what to avoid when looking for investment property contractors.
Types Of Contractors
Any successful property manager will tell you that having a network of trusted and reputable investment property contractors is critical to performing the task of property management. To ensure that you have a solution to any potential problem with your property, you are going to want to have a specific contractor dedicated to each of the main areas of the home. To ensure that you have all of your bases covered, you will want a skilled professional in each of the following disciplines:
A general contractor will act as your go-to for home renovations or remodeling projects. They operate as a middleman between suppliers and will manage the entire project from start to finish.
Having a professional painter allows you to have access to expert recommendations and a paint job that will stand the test of time. They will also operate much faster than you would if you painted the home yourself.
The electrical components of a home should only ever be worked on by a licensed professional. If done incorrectly, it could fry your entire home’s electrical system or worse, cause injury and even death.
Having a fully functioning heating, ventilation, and air conditioning system is a significant factor in retaining tenants and ensuring they are comfortable. Having a dedicated HVAC specialist will ensure that any problem with your investment property HVAC will be handled quickly and correctly.
Whether you need a wood repair on your investment property or are looking to renovate or add an addition to the home, having a trusted carpenter in your network of investment property contractors is always recommended.
It is inevitable that at some point in time, the roof on your investment property will require some type of repair or even replacement. Before it does, make sure that you have already located and contacted a professional roofing contractor.
Traits Of Good Investment Property Contractors
A good investment property contractor will have several traits that indicate that they are a solid choice. The first thing you are going to want to look for is if they have the relevant licenses and qualifications. Often, the best investment property contractors rely on word of mouth for their marketing. If you can, ask your friends and family to see if they have any recommendations. Finally, you will want to see if they have any reviews or references posted for public view. This shows that they are confident with their previous work and left their previous customers satisfied.
There are several red flags to be aware of when looking for investment property contractors that, if noticed, should cause you to avoid them and find another contractor. While word of mouth is a great way to find trustworthy contractors, beware if they are not listed anywhere at all. Any respectable investment property contractor will make the effort to get their business listed somewhere that is easy to find. If they ask you to pay cash or only accept cash, chances are that there is some sort of nefarious activity involved with their business. Finally, if they ask you to obtain the necessary permits, there is a reason that they cannot obtain them themselves and they should not be trusted.
Choosing An Investment Property Contractor
When you do refine your options based on the criteria previously mentioned, you can begin to pick from among the ones you have determined are fit for hire. When discussing your requirements, you will want to provide a detailed explanation of the project you are hiring them for. Then, ask for estimates based on that explanation. Obviously, the total estimated cost is a factor that should be considered but should not be the only variable taken into account. You will want to search for references and customer testimonials as these work as direct evidence of the investment properties contractors’ ability to complete the job with satisfactory results. The contractor you choose should be based on a combination of these variables. Consider what is important to you and weigh them against each other to find the best fit for the job.
Comprehensive Property Management Services
If you want to benefit your investment properties with a comprehensive and professional property management service, look no further than Premier Property Management. Our team will proficiently handle every aspect of your property so you can continue earning from your investments while returning valuable time and energy back into your day-to-day. Call or contact Premier Property Management today to get started.