58 min listen
80: Rookie Reply: How Does Property Management Handle Maintenance?
80: Rookie Reply: How Does Property Management Handle Maintenance?
ratings:
Length:
13 minutes
Released:
May 22, 2021
Format:
Podcast episode
Description
This week’s question comes from Bryan on the Real Estate Rookie Facebook Group. Bryan is asking: How do PM (property management) companies handle maintenance? Do they fix the issue and submit invoices to the owner or withhold the amount from monthly payments to the owner? This is a great question for those who want to transition from self-management to hiring property managers. Both Ashley and Tony have the same type of payment setup with their property managers, but it can vary company to company.Here are some answers/suggestions:Both Ashley and Tony have a maintenance threshold for small repairsAnything over the threshold needs to be approvedOne the job is done, the cost is deducted from the rent You can always go with a PM’s repair/remodel bid, but it may save you money to hire an outside contractor you know and trustTry and get PM companies with software, so you can see the exact invoice onlineAnd more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Check the full show notes here: https://www.biggerpockets.com/rookie80See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
May 22, 2021
Format:
Podcast episode
Titles in the series (100)
Starting at Age 45 With a "1% Rule" Property (in New Jersey!) With Tricia Baxter by Real Estate Rookie