Downtime between renters can be scary for McKinney rental property owners. If you don't have a new resident ready to move in right away, a vacancy can become expensive while you cover mortgage payments and repair costs without steady rental income.
However, the time before a new renter moves in can also be an opportunity to take care of much-need repairs and maintenance updates for your rental property. If your last renter left damage behind—or your rental is simply due for some much-needed TLC—an empty property is an ideal time to get the place looking like new before starting a new lease term.
How can real estate investors save money when taking care of rental property maintenance and repairs between renters? Try these five expert McKinney property management insights from RentHub!
Depending on your skill level and the repair tasks on your To-Do List, becoming a DIY expert can help you save money on repairs between residents.
We caution you not to take on more than you can handle, or you might risk injury (and face expensive medical bills). However, some simple tasks make sense to do on your own rather than paying labor costs (on top of the parts required) for a professional to repair.
Do your research before tackling too many DIY projects. Consult a McKinney property management company and make sure doing repairs on your own truly saves money before you sink extra funds into supplies.
Not everything that isn't still "like new" needs a full replacement. Sometimes, fixing what's broken or touching up worn areas is all you need to do to keep your McKinney rental property in excellent condition while saving money.
A McKinney property management company and routine maintenance services help investors prolong the life of appliances and other items in McKinney rental homes.
There's rarely a need to pay full price for tools—unless you face an emergency repair and you don't yet have the tool for the job in your kit.
Follow sale papers and sign up for alerts from your favorite local hardware stores. Join loyalty reward programs and build relationships with the best local contractors to benefit from bulk discount pricing for services you need across multiple McKinney rental homes.
Remember when you collected the renter's security deposit? Apply it to rental property maintenance and repair costs after they move out.
The security deposit is there to offset expenses, but make sure you follow the law to apply it correctly.
Can hiring a professional McKinney property management company save you money on repairs before your next resident moves in? Yes!
A property manager is the best way to save money on routine maintenance and repairs year-round. Hiring professional property management services is also the most effective way to find better renters who renew their lease—so investors face less turnover and vacancy time without a resident to pay the rent.
How is it possible? With expert, full-service property management, investors get:
Our professional budget management keeps costs in line while maximizing your ROI!
Turning McKinney rental properties quickly between renters is a critical part of making more money from your investments. RentHub delivers quick and cost-effective makeready services to keep your rentals in excellent condition while minimizing the loss of income with shorter vacancy periods.
If you're struggling to make DIY solutions work for your properties (and budget), let us help with our McKinney property management services! Contact us to learn more about how we work to reduce your costs.