There are pros and cons on using property management company
– More readily available, since they work within the management company
– Direct communication with the management company and their policies
– More intimate with property…they are the “one” contact and know the history of your property
– Maybe more of a “jack of all trades” versus being specialized in a certain field and having the appropriate licenses
– May not be as determined to perform or finish maintenance work promptly as he/she is not being paid based on the job. Whether he/she finishes in 2 hours or 8 hours, it’s all the same.
– If an in-house maintenance crew is not available, either the repair work waits or the company will need to search for an outside vendor on short notice
– This allows the property management company the luxury of competitive bidding among vendors, which could equate to lower costs
– Vendors will be eager to sign contracts with a property management company that can bring stable business to them, and as a result, will most likely perform quality work promptly
– Most vendors will be specialized tradesman carrying all required licenses, insurance and being bonded
– Some property management companies will add a surcharge or mark-up above the actual cost of any repair work to cover their time in acquiring these bids.
– If work was not completed properly, it may be difficult to get the vendor back on the job.
Another option is coordinating all maintenance work yourself. This may work for you if you have reliable contractors you have work with and are dependable. You can probably save yourself some money but this will involve a bit of your time on your part.
Christopher longsworth is the founder of Invesca. At present days christopher and invesca are doing great job on Asset Management, Business Management, Facility Management, Construction Management, Business Management, Marketing and Sales, Asset Management and Development.