A reliable handyman is an essential part of your real estate investing dream team, helping to maintain and improve your properties while keeping repair costs under control.
What Do They Do?
Your handyman will play a crucial role in keeping your properties in good condition, from fixing minor issues to handling general upkeep.
Here’s what handymen typically handle:
- Routine Maintenance and Repairs – From leaky faucets to broken doors, your handyman can tackle everyday repairs that pop up with rental properties. Keeping up with small maintenance tasks can prevent bigger, more costly issues down the road.
- Making Rental Units Rent-Ready – When a tenant moves out, your handyman can make necessary repairs, repaint, and handle minor renovations to get the property ready for the next tenant. This ensures minimal downtime between tenants.
- Addressing Tenant Repair Requests – Tenants often have repair requests, and having a handyman on your team allows you to respond quickly and professionally. A quick response to maintenance issues helps keep tenants happy and can reduce turnover.
- Upgrading and Improving Properties – Whether you’re installing new fixtures, updating kitchens, or adding cosmetic touches to improve the appeal of a rental, a handyman can handle many of these projects at a lower cost than a general contractor.
- Emergency Repairs – In the case of an emergency repair (e.g., burst pipes, broken windows), a good handyman can provide fast service to minimize damage and restore the property to a safe, livable condition.
When Do You Involve Them?
You’ll likely need a handyman regularly throughout your property ownership.
- Before renting out a property, your handyman can help with any repairs or upgrades needed to make the unit attractive to prospective tenants.
- During tenant occupancy, a handyman is key for handling repair requests and keeping the property in good shape.
- When a tenant moves out, your handyman can prepare the property for the next renter quickly and efficiently.
Why Are They Important?
Having a skilled handyman on your team can save you time, money, and headaches in the long run. Here’s why they’re crucial:
- Cost Savings – A handyman can handle most small to medium repairs at a fraction of the cost of hiring a licensed contractor for each job. This helps keep your maintenance costs under control.
- Preventing Larger Problems – Regular maintenance from a handyman can catch small issues before they become major (and expensive) problems.
- Quick Turnaround for Tenant Requests – Being able to address tenant issues promptly improves tenant satisfaction and can reduce turnover rates.
- Convenience – Having one go-to handyman means you won’t have to scramble to find help for every minor issue. A trusted handyman can often take care of problems before they even escalate.
Other Items of Note
- Specialized vs. General Handymen – Some handymen may have specialized skills like plumbing or electrical work, while others may be more generalists. It’s important to know their skillset so you can assign appropriate tasks.
- Build a Strong Relationship – A good handyman is a valuable asset. Building a long-term relationship can mean quicker service, discounted rates, and someone who understands the specific needs of your properties.
- Availability is Key – Ensure your handyman is available when needed, especially for emergencies or quick turnovers between tenants.
- Licensing and Insurance – While most handymen don’t need a license for small jobs, check if they have appropriate insurance to cover any damages or accidents. This can protect you from liability.
Conclusion
Having a dependable handyman on your real estate investing dream team ensures that your properties stay in top shape, tenants are satisfied, and repairs don’t break your budget. They are a critical resource for maintaining your rental portfolio and keeping operating costs in check, all while improving the overall quality of your properties.