When you own rental property, at some point, you’ll be faced with the decision to hire a professional or tackle your own repairs. While DIY repairs can save you money, they also come with risks, including code violations and safety hazards. On the other hand, hiring a licensed professional is more expensive, but ensures expertise and compliance.
Since there are potential legal and safety risks involved, knowing which route to take is important. This article will explore important factors to consider before making your choice.
1. Does the repair require expertise?
While the answer to this question might seem subjective, it’s not. There are certain repairs that do require expertise to be done correctly, safely, and to code. For example, many people DIY electrical work and think it’s okay simply because the lights turn on and electricity flows. However, DIY wiring jobs are often unsafe and not to code.
One of the most common mistakes seen with DIY electrical work is wiring GFCI outlets backwards. GFCI is designed to trip the circuit in case of a ground fault to prevent electrocution. When the line and load wires are reversed– as is the case with the majority of DIY installs – there is no protection. However, you wouldn’t know it because the electricity will still work. In moist areas, like the kitchen and bathroom, GFCI wired backwards can kill you.
Electrical work isn’t the only thing that requires a pro. Even seemingly simple tasks can violate building codes and create unsafe situations when done DIY style. If it puts your tenant’s safety at risk, it’s not worth it.
The best way to avoid potential disasters is to hire a pro. But instead of calling out a tech for every repair, consider hiring a property management company to handle it all for you. You won’t even have to schedule the appointments – they’ll do it all.
For instance, Green Residential, a prominent Houston property management company, handles all maintenance and repair requests from start to finish. Whether it’s a call at 3:00 a.m. about a leaking pipe or an email about a missing window screen, a property management company will get it done.
2. Is the repair worth your time?
While saving money is appealing, sometimes you need to consider if the repair is worth investing your time. Sure, materials can be obtained affordably and sometimes even second hand, but that doesn’t mean a task won’t take a day or even a week to complete.
As a general rule, if you need to take time off work to complete a repair, factor in the amount of money you’ll lose. If you aren’t going to save much money, or if you’ll end up losing money overall, it’s better to hire a professional.
Even if you aren’t concerned about losing money, think about how much time you’ll need to invest in the work. Your time is worth more than just money. If you value your time and would rather be doing something else, hire a pro.
3. Consider your tenant
Tenant satisfaction should be your top priority over saving a few bucks. Promptly fixing issues is vital for retaining your tenants. Delays or subpar DIY fixes can lead to dissatisfaction, complaints, and possibly even legal action from your tenant. Hiring a professional ensures the repair will be done quickly and efficiently.
4. Consider the long-term impact
Quality repairs will contribute to your property’s long-term value. Surface-level DIY fixes that only offer temporary solutions can lead to recurring problems that may eventually require more extensive work. Professional repairs are fast, durable, and often come with a warranty.
5. Consider the impact on your insurance
Sometimes DIY repairs can affect insurance claims. For instance, if a repair leads to damage and isn’t compliant with building codes, your insurance company may deny your claim. Professional repairs will come with proper documentation that proves all building codes have been met, permits were obtained, and required inspections were completed.
6. Think about tax deductions
Hiring professionals to tackle your rental repairs is tax-deductible, but performing repairs yourself is not. While you can deduct the cost of materials for DIY repairs, you can’t deduct the cost of your time.
When in doubt, hire a professional
Trying to DIY your way through all your rental repairs is risky. In addition to potential safety and legal risks, it’s time consuming and can negatively impact your relationship with your tenants. While DIY repairs are ideal for small fixes, professional contractors are recommended for more significant issues. When peace of mind is your priority, you can’t go wrong with a licensed pro.