Over half of Austin residents rent their homes, making this city an excellent place for property investors to earn passive income. Yet, attending to all the tasks involved in managing a rental home can become daunting for busy landlords.
Hiring a property manager is the most effective way to reduce the time and expense of owning an investment home, but these services don't include maintenance costs.
Property owners pay for most maintenance costs in Austin, TX, with a few exceptions. However, they can assist you with maintenance coordination to help reduce these costs.
What Do Property Management Fees Include?
Property management involves the day-to-day tasks involved with having tenants in a property. These include:
- Rent collection
- Accounting, tax assistance, and reporting
- Managing tenant relationships
- Filling vacancies
- Marketing
Full-service property management includes several extras, like maintenance coordination, emergency repairs, and managing maintenance requests. Your property management fees do not include rental property maintenance costs. A full-service property management service does include maintenance coordination.
What Is Maintenance Coordination?
Under Texas law, landlords are responsible for maintaining their properties in a safe, habitable condition. To do this, you must take care of the following rental property maintenance tasks:
- Pest control
- Maintaining HVAC systems
- Testing safety equipment
- Leak detection and repairs
- Mold prevention and remediation
To ensure compliance with local laws, your property manager will set up a property maintenance schedule. This system helps them stay on track with routine and preventive maintenance to help you avoid unnecessary repair costs.
Most property managers have ongoing relationships with reputable local contractors. This means you'll get better prices and swifter service on property repairs and maintenance.
The property manager will contact suitable contractors to do the work, compare prices, oversee the work, and manage payments. They may pay these costs out of your rental income or send you an invoice for payment.
Some property managers use a portion of your monthly rental income to set up a repair fund. This helps to buffer you from large maintenance expenses.
Tenants rarely pay for routine maintenance costs but are responsible for repair costs if they cause damage.
The Role of Rental Property Inspections
Rental property inspections are vital for ensuring lease compliance and routine maintenance checks. In Texas, the landlord does not need to notify the tenant of their intention to enter the unit unless the lease stipulates this.
During these inspections, the property manager will thoroughly check the interior and exterior of the property. They may also attend to small maintenance issues at the time, i.e., changing the batteries in carbon monoxide monitors.
Master Rental Property Maintenance in Austin, TX
To sum up, property management fees do not include the costs of maintaining your rental unit. Yet, effective maintenance coordination helps preserve the value of your investment, encourages lease renewals, and saves you money.
At Monte Davis Property Management, we have the knowledge and experience to generate positive returns from any property, regardless of location. We offer a wide range of property management services, including maintenance, accounting, and rental analyses.
Let us help you thrive in the competitive Austin real estate environment.
