As part of Nebraska landlord-tenant law, a landlord must comply with housing codes and make all repairs to keep the premises in a fit and habitable condition.
As an Omaha landlord, you have a responsibility to uphold to comply with the law. Plus, being a great landlord will keep your tenants happy and bring new tenants in when you have vacancies.
If you don't have the time or expertise to complete maintenance and repairs, consider hiring a rental property management company. When you do, who is responsible for paying for repairs? Who completes the repairs?
Keep reading to learn the answers to your questions.
Do Property Managers Pay for Repairs?
When you hire a rental property management company, a property manager will handle maintenance coordination. These rental professionals don't pay for repairs, but your fees should cover the cost of repairs.
Most likely, your property manager will ask you to set aside a reserve fund for when maintenance issues arise. Property managers will use that money to hire someone to make the repairs.
Rental Agreement Terms
The terms of your rental agreement should cover how much money goes into the reserve fund. You can use your rental property accounting data to get an accurate number based on past maintenance and repair costs.
As money is spent, you'll have to restore it in the reserve fund. You can use a portion of your rental income to add money back to the reserve.
In your agreement, you can also limit the amount of money spent on repairs. If a repair is going to cost more than the set amount, your property manager will ask you for permission before scheduling the repair.
Who Makes the Repairs?
Rental property repairs and rental property maintenance should be handled by maintenance contractors. As part of rental property company responsibilities, a property manager will hire reliable workers.
Finding trustworthy contractors takes time and money. Sometimes you have to try out various people before finding someone who fits your needs.
Fortunately, property managers have connections and come with a network of contractors they've worked with in the past. Some property management companies have their own staff who handle these repairs.
You can communicate your preferences to the property manager if you know a contractor you want to work with. You also have the final say in hiring contractors who you don't approve of.
Do You Need Rental Property Management?
Part of your landlord duties is to make quick repairs to keep tenants happy. If you don't have time to complete these tasks, rental property management will step in and handle the coordination and hiring of contractors for you.
At Aksarben Property Management in Nebraska, we help landlords like you who want to have a successful rental property. We are dedicated to all of our collaborations.
Not only will you receive maintenance and repair services, but we can help with rent collection, property marketing, tenant relations, and more.
Schedule a consultation with us today to start a new rental agreement.