Rogers is described as the city 'where possibility lives', and this community-centered city is a great location for property investors who want to earn an income from renters. It's a popular destination for retirees and families, with low home prices that are growing steadily.
Yet, owning a rental property involves more than finding a good property in a thriving city. New landlords soon discover that owning a rental home means a lot of responsibility and hard work, especially regarding repairs and maintenance.
Hiring a rental property management company helps landlords reduce the stresses and time constraints associated with this. Do property managers pay for repairs, though?
Read on for more information about repairs to your Rogers rental property.
Who Pays for Rental Property Repairs?
Arkansas is one of the few states with no implied warranty of habitability. That means tenants accept rental properties on an as-is basis.
Landlords aren't required to pay for any repairs that aren't stipulated in the lease agreement. If the landlord doesn't complete these repairs as promised, the tenant can take action against them.
However, all rental properties must comply with the prevailing Rogers building codes. Property owners are responsible for all the costs associated with keeping their buildings in a compliant state.
Tenants are always responsible for any repairs or damages beyond regular wear and tear. If they don't, the landlord can deduct the repair costs from their security deposit.
Repairs: Landlord vs. Property Manager Duties
Despite Arkansas' emphasis on a 'buyer-beware' approach to rental properties, it's in the landlord's best interest to keep their properties in good repair. They can charge a higher rent for well-maintained, functional homes, and these properties also attract better tenants.
Property manager responsibilities include encouraging lease renewals by undertaking property repairs and maintenance.
A property manager conducts routine property inspections to check for necessary repairs. They can also attend to tenant repair requests promptly thanks to technologies like tenant portals.
When your property needs repairs, the property manager will oversee everything. They will contact you for approval, source the most cost-effective contractors, and oversee their work.
Usually, property managers take care of the repair expenses for rental properties and deduct the costs from your future rental income. Landlords can also set up a fund for rental property repair costs and give their property manager access to these funds.
Hire a Rental Property Management Company in Rogers
Rental property management companies offer many benefits for landlords who want to enjoy the benefits of owning investment property in a growing city. Experienced property managers can help streamline property repairs, but their fees don't include the cost of this work.
PMI Heritage is a leading Rogers, AR, property management company. We offer many services to help you thrive as a landlord in this exciting city.
Our services include rent collection, property inspections, and maintenance coordination. We will ensure your rental home is always well-maintained by attending to repairs swiftly.
Discover how we can help you make the most of your Rogers, AR, investment properties today.
