Maintaining your Albuquerque rental property is a necessary part of earning money on your investment. You need to protect the condition of your property and you need to increase its value. The best way to do that is by keeping it in excellent condition. You want it to remain modern and updated; attractive to the best tenants in the market.
At Bruni Karr Agency, we provide professional property management services in Albuquerque. We spend a lot of time planning, budgeting, and executing maintenance at the homes we manage. We have strategies in place for emergency maintenance responses, routine repairs, and preventive maintenance.
We also maintain an excellent relationship with vendors and contractors, who we often call upon to help us maintain properties. One thing we have discovered is that it’s important to always work with licensed and insured vendors.
Licensure Indicates Expertise
You don’t want someone doing work at your property who isn’t an expert in their field.
Licensure indicates that the plumber repairing a leak or the electrician messing around with your outlets has been trained in what they need to do. It also indicates they have met the professional requirements to be licensed. There’s a lot of peace of mind to this; you know that the job will likely be done right the first time.
If you hire an unlicensed HVAC contractor, you might pay less than you’d pay for a licensed professional, but how much can you count on the quality of work? If the problem doesn’t get fixed properly or if an important issue is missed, you’ll find yourself paying more down the road.
Sometimes, unlicensed workers can do actual damage. Incorrect or incomplete repairs can leave your property vulnerable and your tenants too. Don’t take this risk.
Insured Vendors and Contractors Protect you from Liability
A lot of risk comes with renting out a property in Albuquerque. You don’t want to find yourself responding to tenant claims and potential lawsuits.
You don’t need to open yourself up to claims and lawsuits from the vendors you hire, either.
If you bring an unlicensed and uninsured worker into your rental home to make repairs, you’re putting your property at risk. You’re also putting yourself at risk. What if the uninsured vendor falls off a ladder, injures themselves somehow while completing your work, or causes damage to your property? You’ll be responsible for all of that because the vendor doesn’t have his own insurance policy to fall back on.
Here’s an example. You have an electrical issue at your rental property and you don’t want to pay for a licensed and insured electrician, so you find someone online who seems able to do the work. What if he electrocutes himself while trying to fix your electrical problem? You could be sued. That worker could sue you for medical expenses, lost wages, and even additional pain and suffering settlements.
That’s an expensive vendor. It’s always worth it to pay a little extra for the professional vendors who carry worker’s compensation and liability insurance.
When you’re working through your processes for rental management in Albuquerque, make sure you only contract with vendors who are licensed, insured, and committed to providing high quality, cost-effective work.
Not sure where to find those vendors? We can help. Contact our team at Bruni Karr Agency.