Colorado law states a landlord is legally responsible for repairing the rental property during the lease duration. There are some exceptions to the rule. In most cases, owners should complete regular maintenance and repairs.
To avoid any issues, always write maintenance requirements in a lease. A property management company can help with this and maintenance coordination to keep you compliant.
Maintenance coordination is a huge perk of hiring a property management team in Boulder, Colorado. But what do property management fees actually cover? Keep reading to find out.
Do Property Management Fees Cover Maintenance?
Property managers handle maintenance coordination, but they don't pay for repairs. Owners are responsible for funding repair and maintenance work.
Talk to your rental property manager to discuss how the fees should be disbursed. It's common to set up a reserve fund. A property manager will take from this fund when repairs and maintenance are needed.
Maintenance and repairs may cost extra. Depending on the property management company, you might get an itemized bill of what the property management company paid. You'll pay them back for the costs.
Maintenance expenses will be outlined in your monthly owner statements. Your property manager will provide you with this statement.
How Much Do Property Managers Charge?
Property managers may charge a fixed, percentage-based, or monthly fee. These fees generally cover:
- Rent collection services
- Tenant screening
- Lease administration
- Tenant relations
- Tenant evictions
Property managers can help reduce the costs of maintenance and repairs through preventive measures. Completing regular property inspections can help lower long-term costs and increase rental income.
Benefits of Maintenance Coordination
Even though owners are responsible for paying for repairs and rental maintenance, it's still worth it to hire a property manager.
Property managers handle maintenance coordination. This means they handle most of the repair and maintenance process so you don't have to. You don't have to get involved unless a repair is extra costly.
Property managers will implement a system where tenants can make maintenance requests. This is usually done with a tenant portal. They will note the tenant's request and schedule a job.
Team PMI Coal Creek works with a network of professional maintenance contractors. We can get owners the best price for a job. You'll save a lot of time not having to vet potential contractors yourself.
Once the work is complete, property managers will follow up with the tenant. Owners can stay in the loop during the stages of repair through the tenant portal.
Work With Our Property Management Team
Team PMI Coal Creek handles property maintenance and repairs so you don't have to. Your fees will cover maintenance coordination, but you must pay for the repairs.
Our responsive, 24/7 maintenance service and support are there for emergencies big and small. We offer immediate services for urgent issues.
We negotiate the best rates without sacrificing quality through a network of licensed and insured contractors. We've been doing this for 20 years and are ready to help Boulder, Colorado landlords like you.
Contact us today to learn more about our services.
