What kind of vendors are you using when you need repairs and maintenance work done at your Houston rental property? Hopefully, they’re licensed and insured, otherwise, you could find yourself dealing with a lot of legal liability.
No one likes to pay for maintenance. It’s a huge drain on your cash flow and your ROI. But, if you don’t stay one step ahead of the repairs that are needed, you could find yourself paying a lot more for the deferred work that was put off.
Take a proactive and preventative approach to maintain your Houston investment property by enlisting a smart, savvy, and cost-effective team of vendors and contractors. We’re explaining how to select and qualify those professionals in today’s blog.
Avoid Liability with Licensed and Insured Professionals
It may seem easy (and cheap) enough to ask your friend to fix a sink or to call a painter who staples his phone number to message boards at the grocery store. This is fine at your own home, where you only have yourself to deal with. But, with a rental property, it actually has the potential to cost you more because it opens you up to a lot of liability and risk. By hiring licensed and insured professionals, you can be sure you’re getting a high standard of workmanship. You’ll also have an easier time holding your vendors accountable for the repairs they make. Most importantly, you’re protected. You won’t have to pay lost wages in a lawsuit that a painter without worker’s compensation insurance won when he fell off a ladder at your property. You want vendors who are reputable and reliable.Qualifying Houston Contractors and Vendors
You screen your tenants carefully in an effort to protect your Houston investment property. This is the same reason to screen your vendors and contractors. These professionals represent you when they’re dealing with your tenants, so if they’re acting unprofessionally or inappropriately, it will reflect on you. Talk to current and former customers and investigate a vendor’s online reviews before you hire them for a job. Visit their website and see if they have any guarantees. Take your time getting to know your potential vendors and make sure you and your property will be a priority for them, whether you have a routine repair or an emergency.Vendor Relationships and Houston Property Management
Working with a professional Houston property management company comes with a number of benefits, including access to high-quality vendors. We have a lot of advantages over individual landlords, particularly when it comes to managing maintenance. Because we provide a larger volume of business to vendors and contractors, we can usually negotiate lower rates, which we pass on to our owners. Property managers will also do all the license and insurance checking for you.
These are just some of the good reasons to work with a preferred list of vendors and contractors. If you are struggling to put together your own network of professionals, contact us at OmniKey Realty. We work with rental property owners in Houston, Dallas, San Antonio, and surrounding areas in Dallas County, Collin County, and Houston County.
