Owning a long-term rental property in San Francisco can be a lucrative undertaking, but it also involves ongoing responsibilities. Most importantly, you must maintain your property in a safe, habitable condition.
Although property management fees don't cover maintenance costs, effective maintenance coordination provided by a property manager can help simplify these tasks and save you money.
Read on to discover what is included in your property management fees and where maintenance coordination fits in.
What Do Property Management Fees Cover?
Property management fees might not cover the cost of maintenance and repairs, but they do include numerous other functions. These tasks help reduce time and stress considerations for San Francisco landlords.
They include things like:
- Property marketing
- Tenant background checks
- Lease negotiations
- Property inspections
- Rent collection
Experienced property managers stay up-to-date with the prevailing San Francisco rental laws. So, they can also assist with legal guidance and eviction advice when needed.
Property maintenance fees form part of the overall management package and include maintenance coordination.
What Is Maintenance Coordination?
Some property management firms have in-house rental maintenance services. This streamlines maintenance tasks and can further reduce your property management costs.
Most property management companies have ongoing relationships with local contractors to ensure you get the best prices and service on maintenance and repairs.
Not only is ongoing property maintenance vital for legal compliance, but it's also an important tactic to help you retain your tenants. Taking care of your tenants' maintenance and repair requests promptly keeps them satisfied and encourages lease renewals.
Property managers carry out regular rental property inspections to check for minor repairs and conduct routine maintenance according to an annual schedule. Taking care of routine maintenance protects your property's value and prevents major repairs and replacements.
Who Pays Maintenance Costs?
Landlords are always responsible for the costs associated with their property.
In some cases, you can arrange with tenants to take care of some property maintenance aspects, like lawn care. They must agree to this in writing as part of their lease agreement.
If a tenant damages your property beyond the bounds of normal wear and tear, they are responsible for the costs of repairing the damage. Your property management firm can pay maintenance costs on your behalf and deduct the cost from your owner disbursements.
You can also set up a maintenance fund and give your property manager access to this money. These methods help speed up vendor payments and ensure prompt attention to maintenance tasks.
Get Property Management Help in San Francisco
Property maintenance is vital for ensuring landlords comply with the California Landlord-Tenant Act. Hiring a property manager helps to streamline these tasks while saving you time and money.
PMI San Francisco is your first choice for property management services in the city and surrounding areas. We are a local business supported by a franchise with over 20 years of real estate experience.
Our services include maintenance coordination, property inspections, and rent collection. Browse our blog for property management insights, or reach out to one of our property management experts today.
