It is more than a full-time job to be a property owner, as the work never stops. Managing and maintaining your estate is a major responsibility that must be handled correctly.
Good property maintenance and property management services keep tenants happy and protect your investment over time. But what are the major differences between the two types of services?
Keep reading to find out.
What Exactly is Property Management?
Let’s first define property management in terms of rental properties. Property management is mainly connected with the commercial aspects of owning a rental property. It entails recruiting tenants, finalizing lease agreements, collecting rent, and more.
Some companies have their people conduct the task, or they may hire multiple contractors to complete projects. Many do both.
While each organization offers a unique collection of services to its customers, the most typical property management services are listed below.
Screening of Tenants
One of the most important and initial procedures is to ensure the possible tenant satisfies the criteria, which includes the annual income, profile, and addressing any other urgent disqualifications. A property manager refuses unqualified clients and finds you dependable and quality tenants from the start.
Rent Collection
By building an effective method for collecting rent from tenants, property managers ensure that you are paid on time. For example, if a tenant is late on rent, a property manager will communicate and address the issue as soon as possible to ensure that your income is not affected.
Communication and Administration
Any successful rental listing requires organization and communication. The property management company will keep you up to date on all property matters and save you time seeking misplaced paperwork or information from your renters.
Administrative responsibilities of property managers include record keeping, lease agreements, rental contracts, postage, and rental statement preparation. Communication is essential in the property manager-tenant relationship because it fosters mutual respect and rapport.
Tenants should trust their property managers, knowing that they will resolve any issues as soon as possible and are conveniently accessible.
What Exactly is Property Maintenance?
Now that we’ve defined property management, let’s look at what property maintenance entails.
Property maintenance focuses on the physical upkeep of a premise, which includes repairs, cleaning, and other routine care. Maintenance services are typically provided by hands-on workers and specialists. You can sometimes hire a company to maintain the entire property, but other times you’ll need to collaborate with various specialists.
Many residents are oblivious to the distinctions between different types of property maintenance. Most of the time, the only residential property maintenance services they will notice are the emergency maintenance services they need when something breaks.
Property managers, on the other hand, must carefully examine the types of property maintenance they will undertake, such as routine maintenance, corrective repair, and emergency maintenance, as well as whether the maintenance should be handled in-house or by outsourced professionals and technicians.
Here is an explanation of the main types of property maintenance:
Regular Maintenance
This term, often known as “planned maintenance,” refers to residential property maintenance services that are scheduled ahead of time, to avoid problems and break-downs.
In-house staff does routine maintenance such as cleaning and painting walls in many managed homes.
Regular maintenance also includes the inspection and repair of the heating, ventilation, and air conditioning (HVAC) systems.
Other typical routine maintenance examples include:
- Machinery lubrication, cleaning, or adjustment;
- Equipment inspection to ensure appropriate functioning and safety;
- Replacing deteriorated components;
- Checking and replacing safety equipment, such as safety barriers, fire extinguishers, and alarm systems;
- Examining and replacing damaged utilities, such as light bulbs;
- Cleaning floors, replacing HVAC filters, washing windows, garbage removal, and landscaping;
- Plumbing maintenance;
It depends on what is being maintained whether regular maintenance should be conducted by in-house property management workers or by an outsourced company.
Basic cleaning and other activities are frequently undertaken by in-house personnel, but they can be a hassle for the property manager and the tenants.
Electrical or HVAC maintenance, on the other hand, requires the services of a licensed specialist to be completed accurately and to code. A handyman does not have the needed skills, certifications, and training to safely fulfill such tasks.
Emergency Maintenance
Emergency maintenance, as the term suggests, occurs when you least expect it. However, landlord property maintenance includes planning for such events.
Whether it’s a broken-down furnace, a broken and unprotected entry door, or a frozen burst pipe, these situations require the landlord’s prompt care. This maintains your tenant’s safety and well-being while also preventing more significant damage to the property.
Corrective Maintenance
Corrective maintenance refers to routine repairs for non-emergency items in a facility. In many cases, these repairs are mixed up with emergency repairs. The main difference is that these fixes are generally low-priority—residents will not be inconvenienced or put in danger if the maintenance issues are not resolved as soon as possible.
However, just because there is little danger, it does not mean that the repairs should be postponed. The speed with which corrective maintenance concerns are addressed can have a significant impact on the renter’s experience and decision to renew the lease.
Assume a ceiling fan in the living room breaks down. It is unlikely to result in injury or loss, but it will be uncomfortable. Fixing this problem would most likely be considered “corrective maintenance” rather than “emergency maintenance.”
Using an outsourced specialist to assist sooner rather than later can improve the tenant experience in this case.
Other Types of Landlord Property Maintenance
In addition to the items listed above, landlords must be prepared for any other situation that may arise. Here are a few additional services that property owners should think about while organizing their budget:
- Landscaping and lawn care in the spring;
- Waste Management;
- Pest Control;
- Snow Removal during winter;
An in-house team won’t have the skill and training required to do all of the above, and you’d have to outsource these services to other specialists.
On the other hand, you can work with a single, outsourced maintenance services company that has the right team of people to properly perform all the needed services.
Property Management vs Property Maintenance
To sum up the information above, property management refers to day-to-day operations such as repairs and renovations. A property manager, in essence, acts when necessary. Tasks are then assigned based on the problem at hand to tackle it as quickly as possible.
The company or landlord who owns the building will usually appoint a facility manager to handle tasks like collecting rent, paying bills, and ensuring that all tax, insurance, and health and safety requirements are met. Property management companies frequently hire contractors to perform repairs on the properties they manage.
Property maintenance, often known as facilities management, is the long-term care of a building. The goal is to make the area as productive as possible by ensuring that all appliances, systems, and structural elements are correctly maintained and function in the long run.
The Relationship Between Property Management and Property Maintenance
So, now that we’ve established the distinction between property management and property maintenance, how do they interact?
A property management business will often have a section that handles maintenance and repair requests. If not, they collaborate closely with contractors to keep the apartment complex in good condition.
As a result, when a tenant submits a maintenance request to the property management firm, the company will schedule the work with their department or a contractor. They will also handle the invoicing and keep you, the landlord, up to speed on the prices and repairs that are being performed.
The Benefits of Working with a Property Maintenance Company
We advise you to seek a maintenance contract for your property. Here are some advantages of hiring a property maintenance professional:
Better use of your time and money
Bringing on a property maintenance partner would mean they manage all repair and refurbishment work with the help of their trained employees. If you have a larger estate and want to bring everything under one contract, you’ll be able to save money and reduce costs.
Keep your property in good condition for a longer time
Good property care that takes into account the building’s age and structure will ensure that everything works better for a longer time, saving money and time in the long run.
A chance to think long term
Working with a long-term partner allows you to draw on their expertise and knowledge to create a maintenance strategy.
This can include routine maintenance to keep things running smoothly, but it can also include planning for larger renovation projects to allow for the necessary funds and time slots.
Peace of mind
You can relax knowing that your property is being maintained by professionals. They usually have responsive customer care teams that can handle emergency repairs and maintenance requirements.
They can handle all elements of managing a rental property for you, allowing you to focus on other investments.
Professional vs. do-it-yourself
Professionals will offer high-quality results unless you are an experienced DIYer with a wide range of skills (and tools, technology, and training). In the case of commercial property, hiring an expert is a must.
Work With a Top Property Maintenance Company – Start Today
Contact Servi-Tek Facility Solutions to discover more about our services if you’re looking for a professional property maintenance business. We will keep your homes in top-notch shape as a full-service company with many years of experience.
Contact us today to see how we can help you, so you can spend more time doing the things you enjoy!
