If you’re a landlord, being able to call for skilled help is vital. You should have a list of contractors so you can send somebody out to do a job at your property if you’re unable or unwilling to do it yourself.
On the team might be a plumber, an electrician, a roofer, and an air-conditioning specialist. If you get a call when you’re away on vacation, and the tenant wants someone to come over right away, you’ll know whom to call. Be sure to pay those contractors promptly, if you expect them to give you the immediate response you’d like.
Rather than keep a list of contractors on hand, to do repairs, you may prefer to turn over maintenance responsibilities to a professional. If you have enough rental income coming out of investment properties, it may be worthwhile to pay 6 percent or 7 percent of that income to a property manager, especially if you also have a full-time job.
