No matter how many units you own or who maintains them, being a landlord is rarely a solitary endeavor. Bookkeeping, tenant interactions, and upkeeping buildings require multiple skills. Hiring the right professionals can mean the difference between a thriving, growing business and a catastrophe.
1. Consider who you need in your network. Think through your schedule, skill set, business needs, and goals. What gaps must you fill with a list of trusted contractors? Every landlord’s network will look a little different, but common resources include a handyman, a plumber, an electrician, a house cleaner, a real estate attorney, and an accountant.
2. Take the time to research. A simple internet search can identify professionals in your area, but choosing the first website on the list isn’t necessarily prudent. Dig deeper to ensure the contractor has the specialized skills you want and positive reviews that indicate high-quality work.
3. Get recommendations. The best way to find quality professionals is through personal recommendations from someone who’s worked with them. Other local landlords will likely provide the most helpful referrals, but any homeowner you know might suggest a cleaner or electrician.
4. Do an “interview.” Once you’ve narrowed your search to a few promising candidates, then reach out. An in-person or over-the-phone discussion can determine the contractor’s professionalism and communication style. Hire each professional for a small project to test the quality of their work and gauge how their cost estimate matches the final bill.
5. Know what questions to ask. When approaching a potential contractor, ensure they meet all licensing or other local legal requirements. Delve into their work experience, typical availability, and fee structure. Discuss your professional goals to determine whether the contractor will be a good long-term fit.
6. Reach out to references. Any established contractor should provide a list of references, so make the most of them! A phone call or email exchange with someone who has worked with the professional in question will establish the applicant’s character and work quality.
7. Don’t wait until a need arises. Researching to find a quality contractor takes time and effort. If you wait until a legal issue arises to find an attorney or until a pipe springs a leak to find a plumber, the rushed process may produce sub-par results. Assembling your network of resources ahead of time will ensure you know whom to contact when the need arises. Plus, you’ll already have an established connection, which will minimize your stress during a crisis.
Building a landlord resource network can feel overwhelming, but the effort will be well worth it when you encounter an emergency. A team of skilled, communicative, trustworthy, and fair professionals will prove crucial to protecting your real estate investment.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management, and we’re here to help landlords navigate the rental market.
