Increasingly, rental property owners are turning daily management of their assets over to property management firms.
Back in 2016 the percentage of landlords managing their own properties was higher however the trend to outsource to property managers has been an upwards trend ever since.
Property investors take on the risk associated with rental properties for the ROI i.e. the rental return and they’ve worked out they can get the return they need without having to deal with the day to day management. However, property management firms need to the right service providers to get the best deals for their clients – the landlords.
One service area in constant demand for property maintenance and repair is plumbing and with thousands of self employed plumbers is it better for property management firms to use one supplier or many? Commercial plumbing company, Hilton Plumbing provide the following areas property managers are getting value from using a commercial plumbing businesses.
1. Full Reporting and Documentation
One way that your firm benefits is when commercial plumbers provide full reporting and documentation of the problem, as well as the fix for the issue. The right firm will ensure that their plumbers provide before and after photographs, as well as reports on the work performed, parts replaced, and the costs. They will even make recommendations for future work needed. These detailed records can then be passed along to the rental property owners, and the recommendations of future work can also help develop a maintenance system that prevents damage due to neglect.
2. Advanced Leak Detection
Spotting the signs of a water leak is usually quite simple – water stains on the ceiling are usually the first clue. However, finding the actual leak can be problematic, particularly if the leak is underground or coming from pipes inside a wall. A commercial plumbing company will provide licensed, experienced plumbers equipped with advanced leak detection equipment to reduce the amount of time involved in finding leaks, and then repairing them. This is a real plus because the more time water is left to leak, the more damage it is doing to the property.
3. Priority for Urgent Needs
A supplier contract will specify the response times for urgent repairs and that your firm will be prioritised with over hours call outs too. Faster turnaround will make sure the tenants are happier in your landlord’s property. Happy tenants make happy landlords, and this is the ultimate outcome for your firm’s property managers.
4. Prompt Drain Clearing
One maintenance task that’s prevalent is clearing of drains, particularly storm water pipes. Slow and clogged drains are the most common issues tenants have with their plumbing, and if they are not dealt with in a timely manner, they can lead to serious issues down the road including burst pipes. With the right commercial plumbing company, the plumbers will be equipped with traditional and advanced drain clearing tools. Conventional tools like augers can be used in most cases, but in some instances, these will not be enough, and a more advanced method will be required. For instance, if the clog is located far down the drain line, or is even located outside of the rental property, between the building and the main sewer line, the plumber will need to use more than just an auger to clear the clog.
Property management is a competitive industry with more landlords outsourcing their rental property management. Developing a relationship with commercial plumbers and other service providers like electricians to handle the regular and most frequent maintenance needs can differentiate your property management firm from your competition.