If you’re a landlord considering whether to handle property repairs yourself, it might seem like a good way to save money and keep a close eye on your investment. Performing repairs personally can offer the chance to inspect the property and ensure that everything is in good condition. However, there are important factors to consider before deciding to take on this responsibility.
The Benefits of DIY Repairs
For amateur landlords or those with just one or two properties, doing your own repairs can save money. It can also provide you with firsthand knowledge of the property’s condition. Here are some benefits:
- Cost Savings: Doing repairs yourself can save you money on labor costs.
- Property Inspection: It provides an opportunity to inspect the property regularly and ensure everything is in good condition.
- Immediate Response: You can address issues quickly without waiting for a contractor’s availability.
Potential Drawbacks
However, there are several potential drawbacks to consider:
- Tenant Comfort: Sometimes tenants feel uncomfortable with the landlord coming over to do repairs. It can feel intrusive and may affect their sense of privacy.
- Skill and Expertise: DIY repairs require a certain level of skill and knowledge. Poorly done repairs can lead to bigger problems down the line, which might cost more to fix.
- Time-Consuming: Repairs can be time-consuming, especially if you have a full-time job or other responsibilities.
Professional Repairs: A Worthwhile Investment
For more sophisticated landlords or those with several properties, hiring professionals to handle repairs often makes more sense. Here’s why:
- Quality of Work: Professional repairmen have the expertise to fix issues correctly the first time, reducing the risk of recurring problems.
- Tenant Relations: Having a third party handle repairs can help maintain a professional distance between you and your tenants, making them feel more comfortable.
- Efficiency: Professionals can usually complete repairs more quickly and efficiently, freeing up your time for other responsibilities.
While doing your own repairs can save money and provide an opportunity to inspect the property, it’s important to weigh these benefits against potential downsides. For landlords with a few properties who enjoy hands-on work and live nearby, DIY repairs can be a viable option. However, for those managing multiple properties or preferring to maintain a professional distance from tenants, hiring professionals is often the better choice.