Modesto, CA, is an excellent choice for property investors thanks to its growing population and home prices that remain well below the national average. Yet, finding a good location is only a small part of what it takes to thrive as a property investor.
Effective property management also demands ongoing maintenance coordination to ensure your rental properties stay in excellent condition. That's why many landlords sign up for property management services to help them manage these tasks.
There's no denying that regular maintenance and repairs are key tenant satisfaction strategies to maintain your property's value and desirability, but who pays for it in the end? Do property management fees cover maintenance?
Read on to discover who foots the bill for maintaining your property.
Understanding Property Management Fees
Property management fees are typically a percentage of the monthly rent, depending on location and the services provided. Most property management companies have a structured fee system.
Here's what you might expect:
- Management Fee: This is usually around 8-12% of the monthly rent.
- Leasing Fee: A one-time fee for finding tenants, typically around 50-100% of one month's rent.
- Maintenance Coordination: Some companies include basic maintenance in their fees, while others might charge separately.
- Emergency Services: 24/7 emergency services might also come at an additional cost.
Before signing a contract with a property management company, you must clarify what services are included in the fees. Not all property management companies offer efficient rental operations, and it's essential to be aware of what you are paying for.
Covering Rental Maintenance Costs
Now, let's delve deeper into rental maintenance. Many landlords assume that their property management fees will include all maintenance tasks, but this isn't always the case.
These are the types of maintenance that may or may not be included in your fees:
- Routine Maintenance: Includes landscaping, cleaning communal areas, and minor repairs.
- Preventive Maintenance: Regular checks, such as HVAC servicing or plumbing inspections, to prevent larger issues.
- Emergency Repairs: Services required after hours, which could incur additional charges.
- Major Repairs: Extensive work like re-roofing or significant plumbing issues might be billed separately.
For example, if a tenant reports a leaking faucet, a competent property management service will likely handle that under routine maintenance. However, if the issue escalates and requires extensive plumbing work, you could face additional charges.
You should ask specific questions about which types of maintenance are included in property management services.
The Importance of Comprehensive Coverage
Remember, it's your legal responsibility to keep your rental property safe and habitable. So, look for a property management company that provides a comprehensive maintenance plan included in their fees.
This can save you a significant amount of money and ensure your property is well-maintained without unexpected costs.
Your Path to Better Property Maintenance Coordination
To maximize your investment, understanding your property management fees and what they cover is essential. With the right partnership, you can enjoy peace of mind knowing your properties are well-managed and maintained.
PMI Central Valley is your local expert for expert property management and maintenance coordination in Modesto. Our company leaders, Naomi and Kevin, pride themselves on transparency and a full range of services tailored to maximize your success as a landlord.
Let us help you thrive with stress-free rental business solutions that allow you to focus on what matters most.
