Working with property management company

[David Smith]

This might be a silly question, but I truly don’t know. So let’s say I have an out of state rental property, then I put a property management company in place. Then the property needs its first repair. What happens? The management company calls me and I pay for the repair remote? Should they have the ability to front the repair then bill me? Do I trust them to make the most responsible call when it comes to repairs or should I arrange it? (Using a reasonably priced part, and reasonably priced repair personnel, etc.)

[Drew Sygit]

@David Smith

A lot of issues and variances with maintenance and management companies.

Let's look at maintenance process logically:)

1) Maintenance issue occurs

2) Owner should be informed as soon as PMC understands the problem (tenants can be very vague)

3) If possible, the problem should be documented with pics/videos

4) If over PMC approval threshold, a bid should be supplied to owner for approval. Otherwise work done and completion pics/video sent to owner.

5) Once bid discussed, possibly revised, owner approves

6) Owner needs to send funds

7) Once funds received, work is put in queue

8) Work begins, owner informed. If larger project, updates should be sent weekly.

9) For any partial payments, supporting proof of completed work should be sent to owner via pics/video

10) Before final payment made, final proof of satisfactory completion sent to owner via pics/video for owner approval

11) Final payment made to handyman/contractor 

Challenge is finding a PMC that will even do half these steps on a regular basis.