When an individual first starts renting out a property, something at the forefront of their mind is often the condition of the home. Whether you own or rent a home, wear and tear, or damages, are inevitable. This brings many owners to ask who is ultimately responsible for damages when they happen.
If you are self-managing a property, the way that repairs are handled can depend on a number of factors. Primarily, the lease agreement should outline how a tenant can report maintenance issues, what they are responsible for handling (lightbulbs going out, for example), what the landlord is responsible for, and what the damage deposits can be used as. Looking at local, state and federal laws surrounding how you can utilize damage deposits will be in a self-managing landlord’s best interest to ensure they are staying compliant with all laws and guidelines.
Hiring a professional management company to handle these issues can ensure that you are staying compliant, and repairs are completed thoroughly and quickly, before they grow into larger issues.
Units managed by a property management company
Different management companies may handle damages and repairs differently, and we recommend all property owners seeking a management company review how these issues are handled.
We also recommend asking what percentage of damage deposits are returned to tenants upon move out. The higher the rate of return, the better care the tenants qualifying for their properties are caring for the unit. Although damages can occur for a number of reasons, proper vetting often reduces the likelihood of large damages happening due to tenant error.
Our Full Service program includes a 10% coordination fee on top of the maintenance order total for owners, meaning that they pay a small fee for us to coordinate repairs quickly, and to utilize skilled, licensed contractors. Our Premium Service program has no coordination fee (with a few limitations).
We review any maintenance order that comes through and verify it is something that is required and who or what caused the issue. If it is something cosmetic or not required, we would reach out to the owner for approval before sending a technician. If the issue was caused by the tenants, we would give the tenant the option to repair it themselves or send our vendor and bill the tenant for the cost.
We require each tenant to provide a security deposit prior to moving into the unit. While security deposits cannot be utilized for normal wear and tear, it can help provide finances for damages that would be outside of that category.
At Rincon Property Management, we return the majority of all deposits back to the tenants on move-out, because they are not needed. Proper vetting of tenants often reduces the likelihood that a tenant will not care for the property or leave damages behind.
We also make reporting of maintenance issues easy and fast, so tenants can report issues as they arise, before they grow into a larger issue.
If you are interested in learning more about maintenance issues, maintenance requests, and more, reach out to us, here.