As a landlord or rental property owner, you are often faced with both minor and major projects to repair and improve your rental property. As the kind of property management Orlando rentals need, we know that it's easy for those attempting DIY projects to find them spiraling out of control.
For small fixes, it might be easy to take five minutes and a wrench to that leaky faucet. However, for bigger projects—especially those that you aren't familiar with—it can be far riskier to do it yourself. If you're in the business of running your own property management, Orlando rentals in your portfolio might be missing out on a quality repair. Knowing when to allocate a task is a skill—and that means knowing when to DIY or turn to a vetted contractor for assistance.
Sometimes doing it yourself doesn't save you any money—but it does risking expose your Orlando rental property to risk that could have been avoided. You may also be wary of working with a contractor, knowing that they have varying levels of quality and may not give you an honest deal.
In either case, the decision is difficult because the stakes are sometimes substantial. As the expert in property management Orlando rentals deserve, consider the following tips when trying to make a decision between a DIY repair job and a professional one.
Are You Experienced in This Area?
One of the biggest reasons to DIY is if you have some expertise—or at least experience—in working on this particular kind of repair. You reduce the risk of collateral damage as you work if you know exactly what you're doing and know the tools and materials you'll need for an excellent DIY repair.
On the other hand, not being experienced can be a substantial setback; most of us know someone who set about doing a DIY project without adequate background or guidance and ended up making a costly mistake that required further repair. This isn't a reason not to do it, for sure, but recognize that lack of experience is a 'pro' for the contractor column in your pro-con list.
Do You Enjoy Taking Time for DIY Projects?
Whether you've done your research or just have the experience, the next question is whether you actually enjoy DIY projects. Some people find it rewarding and even relaxing to get 'under the hood' of their rental property and work on the inner systems, moving and replacing things so that everything works like new again. If this kind of work brings you joy, that's a substantial reason to DIY it.
On the other hand, even if you're good at this work, if you dread it or simply dislike it, you might still consider a contractor. After all, you work hard for the money you have—and one way to spend it on your own happiness is to hire people to do the work you don't want to do. Contractors will appreciate the business, and you don't have to crawl around the rental property fixing things.
Do You Currently Have the 'Bandwidth' for This Project?
Let's say you've got the interest and the skills: What about time? Are you so busy working on your other rental properties or at your full-time job that you don't have the energy or interest in working on this project?
Some people find that—during slow seasons at their day job, for instance—they have the time to take on their own personal projects as part of the property management Orlando rentals require. However, even great DIY project enthusiasts don't have limitless time! Even if you work from home, you know it's no vacation: hiring a contractor can free up your schedule.
Do You Have a Go-To Contractor?
If you've developed a relationship with a trusted contractor over the years, that can tip the scale in favor of working with a contractor. Developing that trust takes time—and if you might be stuck with a wild-card, the choice to DIY can feel like a necessity rather than a choice.
However, when you have a reliable, knowledgeable contractor on-call, it may be easiest to leave the work to them. You know them to be fair and charge a reasonable rate while doing good work—DIY, in such a case, might be the bigger gamble!
Has Your Property Manager Recommended a Contractor?
Many property investors don't have a contractor on-hand that they trust to make needed repairs on their rental properties. However, when you are working with the kind of property management Orlando rentals deserve, your property manager may have suggestions on excellent contractors nearby. Most property management professionals have already formed these working relationships, and can pass the savings—and security—on to you!
Their long-time expertise in the industry allows them to help you choose a contractor, among many other major decisions in your life as a property owner. Reaching out to your property manager makes connecting with someone who can help painless when a DIY project doesn't pan out.
We know that many of the investors that we serve have neither the time nor the inclination to do their own DIY repairs on rental property. Let Verandah Properties put our expertise to work for you as your property management partner! Contact us to see how we can connect you to a professional for your portfolio.