Those who own investment properties know things come in waves. Sometimes all is quiet and you think this is the easiest gig ever, and other times you just want to throw your phone off the nearest bridge because it won’t stop ringing. Unfortunately it comes with the territory, and landlords may relate to a day like this:
The property owner woke up on a cold winter morning to a text message informing him that the heat wasn’t working in the downstairs unit. This 2-unit apartment has a double boiler system, and unfortunately, that one was at the end of its life. Knowing the time was approaching, the landlord had already purchased a boiler and had it in the basement and it was just a matter of installing it. So, after a call to a plumber, the landlord went off to his regular job, satisfied that the problem would be taken care of, even if the tenant still calls every hour to complain.
Mid-morning he gets a call from the upstairs tenant complaining about the downstairs tenant. It’s not about something important, such as an aggressive dog, or suspicion of drug activity. He’s complaining that she talks too loud when she’s on the phone and it’s interrupting his sleep. At 10AM. And this guy doesn’t work the night shift. After telling the guy to work it out himself, and a reminder that he will be stopping by at 5:00 for the rent that is past due, the landlord gets back to work.
5:00 arrives and the property owner leaves his regular job to stop at the apartment. The first task is to collect the late rent from the upstairs tenant who assured him he would have it ready. But despite a lot of knocking and phone calls, Mr. Upstairs is conveniently not home. Then, he heads to the basement to see the progress on the boiler job. He’s thankful to find out the plumber is just finishing up, but has a hefty bill for him due to the pricey materials needed to hook up the new system. As he shows him the work he has done they hear the shower turn on in the downstairs apartment and water starts to drain through the pipes. The landlord starts to write the plumber a check and as he’s signing it they hear an odd noise, turn to investigate and at that moment, the valve from the shower drain gives way, covering them both with dirty, soapy water.
If there was anything good from the situation, the plumber was already there and willing to fix it immediately. At that time, the landlord got a text message from the upstairs tenant saying his car broke down, and that is, of course, the reason he wasn’t there to pay the rent. The landlord heads home without the rent, another plumbing bill to pay, and the saga continues the next day.
This is a true story, of a landlord with just one 2-unit property. If this landlord had taken advantage of property management services, he wouldn’t have had to deal with any of this. Maintenance calls, rent collection, and finding better tenants to begin with are just a few of the perks that a property management company provides. If you own investment property in Denver, Aurora, Centennial, Parker, Littleton or Highlands Ranch area, don’t be like this landlord. To avoid hassles like this, please call Legacy Properties-PM @ 720.989.1996 or contact us.