Owning a rental property can be a great way to earn income, but it’s not totally passive, even with the help of a property manager and other professionals.
As the property owner, you’re in charge of handling certain repairs and maintenance. The exact work you’ll be responsible for depends on the state and your lease agreement, and you can probably hand some tasks off to the tenant.
Not sure what issues you need to handle — and which ones your renters can take over? Here’s a general idea:
Landlords
- Broken Appliances: Unless the issue is due to neglect or misuse, you’ll usually need to repair or replace any broken appliances yourself if they were there when the tenant moved in. (If they bring their own appliances, it’s a different story.)
- Health Hazards: Mold, mildew and termite infestations are issues a landlord would need to handle, as they pose a health and safety risk to tenants. Structural safety issues, like leaks in the roof and foundation problems, are your responsibility as well.
- Major System Repairs: If there’s a breakdown in the plumbing, electrical, mechanical, sewage or HVAC systems, it’s up to the landlord to make repairs.
Tenants
- Issues Caused by the Tenant: If a tenant or their guest breaks something, puts a hole in the wall or otherwise damages the property, it will usually fall on them to fix or replace it.
- Routine Maintenance: Basic maintenance tasks like changing lightbulbs, replacing air filters and tending to the outdoor space are often tenant responsibilities.
- Pet-Related Repairs: If a tenant has a pet on the property, they are responsible for any damage it does. You’ll likely want to charge a pet deposit (and maybe monthly pet rent) to account for the extra risk.
Get in touch if you’re ready to add a rental property or other real estate investment to your portfolio.
