We buy houses in Raleigh, North Carolina. We are professional homebuyers in NC who offer cash for houses in Raleigh and the rest of the North Carolina state. There are many ways landlords can save money on their Raleigh NC rental properties. To bring more value to the property, you must make upgrades and repairs. You can find ways to save money making repairs in order to always keep your property in tip-top shape. Learn more about our cost-saving techniques in our latest post.
Repairs aren’t necessarily what you want to skimp costs on. However, there are some great ways you can save money on repair costs for your Raleigh NC rentals. Below, learn about some of our favorite ways landlords can save money making repairs on your Raleigh NC investment properties.
Build a Team
Partner up with some contractors who you can turn to again and again. This way, you will attain peace of mind in knowing the repairs are being done properly and that you have someone working on your house who is true to their word. You won’t have to worry about poor work ethic or repairs being completed in the wrong way. You can also have a team readily available to handle the cleanup once the repairs are completed. Every good landlord will have a go-to cleaning service they know and trust to get the job done.
Deal With Scheduling Repairs Yourself
When you leave the repairs up to the tenants, it is like handing them a blank check. They aren’t going to be worried about saving you money; they are going to worry about getting the problem fixed. If you want your repairs done right and at a fair price, it is best for you to handle them yourself, finding your own people to do the job. Once the repairs are completed, you can make sure they are up to your level of satisfaction. If your tenant has chosen the vendor, you might find yourself having to pay for poor workmanship.
Screen Your Tenants Thoroughly
Sometimes, repairs are needed because your tenant caused the damage. One way to avoid such problems is to ensure you are screening your tenants thoroughly. Talk to your prospective tenant’s past landlords and run background checks on anyone who will be living in your home. Even if you know the person who wants to move in, don’t assume they will take as good care of your property as you need them to. Always encourage your tenants to report any problems or unusual things they are noticing. If your tenant is able to help you discover a leak right away, you will be able to save thousands in water damage costs you may have otherwise been forced to face.
Make the Repairs Yourself
You don’t need to be a carpenter or plumber to deal with basic repairs the property needs. Many things can be handled on your own with just a little elbow grease. Of course, this should only be done if you are confident in your abilities and know what you are doing. Don’t bite off more than you can chew or you are likely going to find yourself with even more repairs to make! Know when to call in a professional and when it makes more sense to handle it on your own. Sometimes, the DIY aspects of being a landlord can appear unglamorous, but when you see that tremendous ROI, it suddenly won’t seem to matter so much.
Landlords face many costs over the life of their investment. By being able to make repairs in a cost-efficient manner, landlords can save money and put more of their profits in their pockets.
Sell My House in Raleigh NC
Thinking of stepping down from your rental business instead and pursuing other business ideas or interests? Another option would be to sell your house in Raleigh NC. We are professional North Carolina home buyers and real estate investors; we can purchase your property for cash (no need to list it with an agent) and take care of all the repair expenses and work for you! Remember to communicate with your tenants about the sale of your rental property ahead of time and help them with moving out if needed.