If you've recently invested in a rental home in Topeka, KS, you're onto a good thing. Kansas boasts consistent low unemployment and record-breaking economic growth, making it ideal for attracting renters.
Hiring a property management team can enhance the value and appeal of your property even more, provided you have a good understanding of what they offer.
One of the most common questions landlords ponder is whether property management fees cover rental maintenance costs.
This article will help clarify how far a property management team's maintenance coordination efforts go so you can budget more effectively.
What Is Full Service Property Management?
It's important to understand the purpose of property management services at the outset. These companies offer various services aimed at maximizing the profitability and efficiency of your rental properties.
These include:
- Tenant relations
- Lease management
- Property inspections
- Rent collection
Maintenance coordination is one of the most important services to look out for when choosing a property management service.
Understanding Your Management Fees
When you hire a property management company, you typically pay a monthly fee that can range between 8% and 12% of the monthly rent. This fee usually includes:
- Tenant screening and placement
- Rent collection and financial reporting
- Maintenance coordination
- Regular property inspections
The specifics can vary based on your agreement with the property management company. You must read your contract carefully and ask questions about what is included, especially regarding maintenance services.
Do Fees Cover Maintenance Costs?
The answer to this question depends on the property management company you choose. In most cases, your management fee includes the coordination of maintenance tasks.
These services may include routine and emergency maintenance tasks, but they don't necessarily cover the costs of those activities. Property management companies typically charge you for the labor and materials needed for any maintenance work or repairs.
For instance, if a tenant reports a plumbing issue, your property manager will handle the communication and scheduling with a plumber. You'll be responsible for the payment of the plumber's services.
It's advisable to set a budget for routine maintenance and unexpected repairs in addition to your management fees.
Why Is Maintenance Coordination Important?
Maintenance coordination is a key function of effective property management. It has several benefits:
- Improved tenant satisfaction: Quick responses to maintenance requests show tenants that you care about their living conditions.
- Property value enhancement: Regular maintenance keeps the property in good shape, protecting the value of your investment.
- Regulatory compliance: A management company ensures that your property meets local health and safety codes, safeguarding you from potential legal issues.
In Topeka, KS, you have access to trusted property management services that prioritize transparent communications with landlords and their tenants.
Find the Right Property Management Company in Topeka, KS
If you're considering hiring a property management company, you must choose one that offers maintenance coordination services. It's also important to understand who pays for any maintenance costs.
PMI Advisory Group is your first choice for full-service property management in Topeka, KS. Our team, ably led by Paul and Shawn, is committed to exceptional service through transparency in all our dealings and has decades of experience in the Topeka area.
Reach out to explore our expertise and see how we can help your property flourish!
