1-877-62-CAROD

Charlotte Property Management Blog

The Pitfalls of Deferred Repairs


Sherkica Miller-McIntyre - Thursday, March 2, 2017

When you become an investment property owner, but it’s not what you do, you’ll quickly learn that things are different from maintaining your personal home. Being a landlord is an entirely different animal than simply being a home owner. One main difference in the two, and there are many, is the human factor. What you may resolve to live with cannot always be applied to another person. This can be true with another person within your own home, let alone someone who happens to be paying for residence in your property. That being the case, there are areas of the management of your rental property, that can’t be treated in a, “I’ll get around to it” type of way.

One such area is the issue of maintenance and repairs. We at Carod Properties have often said and reiterated that, investing in income properties is not for the faint of heart. Our clients know and you should, also, that it is far from just finding a renter and collecting rent. It is an investment and investments require their due diligence and attention. It’s like a garden. Once you plant the seeds, to reap the rewards of a plentiful harvest you must tend to it—water, maintain, and address what issues may arise. Even if you have written in the language of your lease that much of the cosmetic maintenance is the responsibility of the tenant, there are other things that will solely fall on your shoulders. Not giving those things proper time and attention can lead to unnecessary headaches, problems, and costs.

Escalation of the Issue. One such unnecessary headaches is the escalation of a minor issue to a catastrophe. Some subscribe to the school of thinking that if it’s not a problem or not that big of a problem now, then you’re wasting money. (I do some preventative maintenance and then when it eventually needs repair, I pay for it again.) Well, that’s just nonsensical. Regular maintenance of certain home needs and the prompt maintenance of a new issue, prevents costly repair. Repair and maintenance are two different things. The former can all too often be a cost that hurts in a way that few novice landlords are prepared to absorb.

Reputation. Your next renter may only come, if the previous renter was satisfied. Depending on size of your city, word of mouth can make or break you. Furthermore, depending on the surplus of the market and the widespread draw of social media to help make all of our decisions, you absolutely need for renter that are leaving to be leaving with a positive experience to tweet, post, and talk about. Someone who has encountered deferred repairs, a difficult reporting process, and a landlord that seems to be uncaring about what they are viewing as their home for the duration, will reflect in your ability or inability to secure new tenants.

Danger/Possible Litigation. Some repairs simply have to be addressed immediately. The fact that it is something you feel that they can live with, because it’s something you could, simply won’t fly when comes to being an investment property owner. There haven’t been 503 million lawyer television shows because people don’t like to sue. And, add to this being a very litigious society, the previous bad experiences that a tenant might have had, may make them quick to pull the trigger when their safety and well-being is at risk due to things like loose floor boards and suspicious mold.

Even if you don’t have a green thumb, you understand that you reap what you sow. Make your investment always bring forth a plentiful harvest, by addressing maintenance issues as they come. Even better, be proactive and address issues before they become problems. If it becomes overwhelming, invest further, by securing the services of a competent property management company. You’ll be happy you did. As always, Carod Properties is here to help!

By: Alicia M. Caldwell, AMC Literary Services