It's vital to know that the average property owner spends about $3,000 on maintenance every year.
Owning a rental property may or may not be more expensive to maintain than your own home, depending on your tenants. One of the common concerns for landlords and tenants alike is who bears the cost of repairs.
What should renters and landlords know about rental property management? Read on for a full repair breakdown so you'll know when it's time to step in and cover the bills.
Rental Property Repairs Are a Shared Responsibility
Maintaining a rental property is something that all parties have to collaborate on. When it comes to repairs, the responsibility largely depends on the nature of the issue and the terms outlined in the lease agreement. In many cases, routine maintenance tasks fall under the landlord's domain, while specific repairs may involve tenants.
Property Management Company's Role in Repairs
Property management companies look after all kinds of things. Their involvement in repairs varies, though. Property managers are often responsible for coordinating and overseeing maintenance tasks that fall under the landlord's purview. This includes these routine tasks:
- Lawn care
- Pest control
- General property maintenance
Rental Property Maintenance Checklist
To better understand the scope of responsibilities, property owners and managers often use a rental property maintenance checklist. This checklist outlines the following:
- Routine tasks
- Preventive measures
- Regular inspections needed to keep the property in good condition
What are the common items on such a checklist? They include the following:
- HVAC system maintenance
- Plumbing checks
- Appliance inspections
- Structural assessments
Who Pays for Repairs? The Lease Agreement Decides
When it comes to repairs, the lease agreement is the guiding document that outlines the responsibilities of each party involved. In Houston, landlords often cover the costs of these major repairs:
- Structural issues
- Electrical systems
Tenants tend to be responsible for issues caused by their own negligence or misuse.
Emergency Repairs and Timely Communication
Emergency repairs can spring up. Here are some examples:
- A burst pipe
- A malfunctioning heater
- An unusable toilet
Prompt communication between tenants and property managers is crucial. Property management companies often have established procedures for handling emergency repairs.
The immediate resolution may be the responsibility of the property manager. The cost implications are determined by the lease agreement, though.
Transparent Communication Is Key for Rental Property Management
It's vital to avoid misunderstandings about repair responsibilities. Property managers should keep tenants informed about the maintenance schedule and any upcoming repairs. Tenants should also report any issues to the property management company right away to ensure a quick resolution.
Do You Need Help Keeping Up With Rental Property Company Responsibilities?
There's a lot to unpack when it comes to rental property management. Renters and landlords have to know their responsibilities to maintain harmony. When in doubt, always refer to what's written in the lease agreement.
Are you a Houston landlord in need of some help? Contact Terra Residential Services to hear more about our property management solutions. We've been helping Houston landlords and property owners for over 30 years.