In order to bring more long term value to the rental property–especially if you’d like to sell in the near future–it’s often recommended a landlord should keep up with regular maintenance and ultimately make the necessary repairs. You can find ways to save money making repairs in order to always keep your property in tip-top shape. Repairs aren’t necessarily the place where you want to skimp on costs–however, there are some great ways you can save money on repair costs for your Los Angeles rentals. Below, learn about some of our favorite ways landlords can save money making repairs on your Los Angeles investment properties.
Build A Reliable Team
Partner up with some contractors who you can turn to again and again. This way you will attain the peace of mind in knowing the repairs are being done properly and that you have someone working on your house who is true to their word.
Different Professionals For Different Repairs
By asking for recommendations from other rental property owners, you can build a reliable team of pros you can call for specific types of fixes, some big and some small. Here are some of the pros you’ll want to work with and continue working with if they are really good.
- General Contractor
- Plumber
- Electrician
- Painter
- Roofter
- Cement work
In addition, ask other Los Angeles rental property owners to recommend a “handyman” to you. Handymen have a Swiss Army knife-of-sorts skillset and can often be the one-person you turn to for 80% of the repairs and upgrades that you need for your property.
By having a Los Angeles handyman or specialist you use regularly, you’ll begin to understand how they work and their quality of work. Getting the rental property repairs completed with quality and on time by the first time, this is truely the best outcome. You want to avoid the cost of having to redo or revisit the issue, costing you even more money and more time that you did not expect. With a relationship that you build with a specialist, contractor, or handyman, you won’t have to worry about poor work ethic or the rental property repairs being completed in the wrong way.
Beyond repairs, you should also have a team readily available to handle the cleanup once the repairs are completed. Every good Los Angeles landlord will have a go-to cleaning service they know and trust to get the job done.
Deal With Scheduling Repairs Yourself
When you leave the repairs up to the tenants in Los Angeles, it is like handing them a blank check. They aren’t going to be worried about saving you money, they are going to worry about getting the problem fixed. Also, keep in mind that everything in Los Angeles is expensive. If you want your repairs done right and done at a fair price, it is best for you to handle them yourself, finding your own people locally to do the job.
If Your Tenant Insists They Are Handy
- If you have a tenant who claims they are very handy and can save you money on the repairs, make sure you verify their experience and quality of their workmanship. Don’t just take the word of the tenant just because they have some tools and might seem handy. You need to see prior finished work and speak to a prior landloard.
- If you have a tenant who claims that something is damaged and needs to be repaired, request that they send you a get a photo and description of the issue. Make sure they wait for your confirmation of receipt and your prescription of what next steps should be. You want to avoid them moving forward to repair something you’ve never seen; and footing you with the bill.
- In the lease agreement, define in clear language that the landlord is responsible for repairs and that tenants can only move forward with repairs with written approval from the manager. If repairs are made without the landlord’s consent, indicate that the landlord will not reimburse for the repair and if the repairs are not done correctly, the landlord can redo the work and charge the tenant back.
With the above considerations, we hope you’re ablve to deter your Los Angeles tenant from fixing anything by themselves. We hope the tenants call you so you can call your contractors or handyman. Once the repairs are completed, you can make sure they are up to your level of satisfaction. If your tenant had chosen the vendor, you might find yourself having to pay for poor workmanship.
Screen Your Tenants Thoroughly
Sometimes the repairs are needed because your tenant caused the damage. Even if you know the potential tenant who wants to move in, don’t assume they will take as good care of your rental property as you need them to.
One way to avoid such problems is to ensure you are screening your tenants thoroughly. Talk to your prospective tenant’s past landlords, run credit checks, and run background checks on anyone who will be living in your home. Reading a one page recommendation letter from a landlord is not the same as getting your questions answered over the phone.
Another way to avoid such problems is to set your expectations and maintain open lines of communication. If your tenant is able to help you discover a leak right away, you will be able to save thousands in water damage costs you may have otherwise been forced to face. Always encourage your tenants to report any problems or unusual things they are noticing and do your proactive landlord walkthroughs every 3 to 6 months.
Make The Repairs Yourself
You don’t need to be a carpenter or plumber to deal with basic repairs the property needs. Many things can be handled on your own with just a little elbow grease. Of course, this should only be done if you are confident in your abilities and know what you are doing because you have done it before. Don’t bite off more than you can chew or you are likely going to find yourself with even more repairs to make! Know when to call in a professional and when it makes more sense to handle it on your own. Sometimes the DIY aspects of being a landlord can appear unglamorous, but when you see that tremendous ROI, it suddenly won’t seem to matter so much.
Los Angeles landlords face many costs over the life of their rental property investment. By being able to make repairs in a cost-efficient manner, landlords can save money, and put more of their profits in their pockets.