wear and tear from tenants " what is the standard to expect"??
Wednesday, November 12, 2014
5 Tips for Property Managers to Win the War on Wear and Tear
As a property manager my core value proposition is: to have our tenants live in a safe, clean, and well- maintained home while providing rental owners with peace of mind that their properties are well cared for. That said, how do we let rental owners — especially new investors — know that wear and tear comes with the territory, and that we can’t lighten tenants’ wallets for every scratch, ding, dying plant, and carpet stain?
Investing in property is a deliberate and strategic decision. Many of our rental owners at Tru Real Estate Services, though, believe their homes should remain forever perfect, like the day they were built. Not surprisingly, owners with this outlook make our responsibilities as property managers a bit more challenging.
If the shared goal of owners and property managers is securing long-term tenants who pay their rent on time, every time, and take great care of their homes, how can we not accept normal wear and tear as part of life? Have a frank conversation with rental owners and remind them that their property is a home, and it will be lived in, perhaps by a family like their own, and as a result, there will be wear and tear.
For starters, I prepare owners about what to expect when it comes to normal wear and tear:
•Parents have children, children spill everything, and the carpet will get dirty.
•Kids have hands that get into everything, and they touch walls.
•Grass and plants are living things; some thrive, some not so much.
•Ovens are primarily for cooking, not for looks; they get dirty and break.
•Washers and dryers spin, they spin fast and spin a lot — and eventually stop spinning.