So You Have A Guy That Can Do That

I have a hard time understanding why some owner / investors that I work with insist on either doing their own turn arounds and repairs or want to hire a friend or someone they know to do the repairs on thier rental home.

Here are 3 reasons you should not do your own repairs if you have hired a property manager.

#1. Why would you want to do work that you have already paid someone else to do? You are already paying your property manager to coordinate the repairs for you. How much is your time worth? What could you have done with the time you spent repairing you rental home or supervising someone else to do it?

#2. Do you know what insurances to look for? If the repairman damages something or someone while working on your property does he have the right insurance to cover that damage? If the repairman is injured on the job is he covered or is he going to end up owning your rental property after the attorneys get done with you? That might of made you chuckle but I have seen it happen.

#3. Are you really saving money? Your property manager has systems in place to get your property repaired quickly and efficiently. How much money per day is it costing you every day to have a vacant house?

Your rental property is an investment and you are an investor you should treat it like one. They call it "passive income". It won't be passive if you are working for it. Let a professional handle all the aspects of the rental experiance for you. You will come out ahead. That is my story and I am sticking to it. Thanks for reading Tim's Tips