Cities and towns across New Jersey are excellent choices for astute real estate investors to spend their money, thanks to the state's staggering economic growth in recent years.
There's more to owning a rental property than finding a great location and raking in rental income. Landlords must invest a lot of time and money to maintain the appeal of their property, preserve its value, and meet their legal obligations.
Efficient rental property maintenance is key to meeting these goals. Read on to discover who covers the cost of this maintenance and the role of maintenance coordination in streamlining it all.
What Do Property Management Fees Include?
Hiring a property management firm is one way to alleviate the time involved in fulfilling your landlord duties. These experts offer a range of services to help you protect your property's value and retain your tenants.
These include:
- Property marketing
- Rental valuations
- Tenant screening
- Lease negotiations
- Property inspections
Most property management companies can also offer guidance when it comes to evictions, legal requirements, and growing your portfolio. While they don't pay for property maintenance, they do offer maintenance coordination as part of the deal.
What Is Maintenance Coordination?
If you don't maintain your property in an acceptable condition, your tenant may legally withhold their rent. You can avoid this scenario with efficient maintenance coordination.
Many property management companies offer this service as a part of your agreement, but they don't pay for the maintenance work. The landlord is ultimately responsible for all costs related to maintaining their property.
Property inspections are one of the most important facets of maintenance coordination. During these visits, the property manager goes through a comprehensive checklist to ensure your property is in a safe and habitable condition.
These checks include:
- Plumbing and electrical systems
- Appliances
- Heating and cooling systems
- Internal and external structural components
If they notice anything in need of routine maintenance or repairs during an inspection, they will coordinate the necessary work to ensure it's carried out promptly. They can often secure better prices and faster service thanks to their ongoing relationships with local contractors.
Who Pays for Property Maintenance?
Tenants aren't responsible for any maintenance aspects aside from keeping the home clean and in reasonable condition.
Landlords can arrange for their tenants to take care of some maintenance aspects, like lawn care, as long as this is stated in the lease. If a tenant causes a need for rental property repairs beyond normal wear and tear, they must usually pay for the damages.
Streamline Your Rental Property Maintenance Tasks
East Brunswick landlords have a legal obligation to keep their rental units well maintained and pay all the costs associated with this, except in very few instances. Hiring a property manager can help streamline these duties and also save you money on unnecessary repairs.
CMS Property Management can assist you with a full range of property management services across the New Brunswick area. Our expert team is committed to service excellence and exceeding your expectations at every turn.
Speak to one of our experienced team members and discover an easier way to manage your New Jersey properties.