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Updated almost 3 years ago, 01/23/2022
Handing over portfolio to PM, how to prevent unnecessary charges
Hello Everyone,
Curious to know how you would handle this. I've been managing my own portfolio for quite a bit and am very familiar with situations where tenants are having issues with a/c, plumbing, appliances, etc. because I do majority of the work myself.
And quite frankly most of the time I get a service call from a tenant I find it to be things they were not aware of, things that never actually needed fixing, turning the problem on/off by a switch, etc.. AKA very easy/simple things that require no actual part replacements or major work.
My fear is that when I hand my portfolio over to a PM I will be getting a lot of high price maintenance expenses for service calls which might raise my expenses dramatically.
Should I just expect this? Are there things you include contractually so that you don't end up paying high maintenance fees for ridiculously easy/no work done maintenance? Please share your thoughts and ideas regarding this.