DIY Property Management with A Few Reliable Handymen?

Question

Hi, live in California and I'm buying a couple of homes in the Orlando Fl area.

I wonder if anyone has had success hiring only reliable handymen instead of a property management company?

I read an article online about a landlord doing that. The key is to find reliable and honest handymen.

Thanks,

Bjorn Ahlblad · Answer

@Sergio Ferreira I think a reliable handy/man/woman-I have a great handywoman; we rely on her but I don't think of her as a PM. Expecting her to fulfill that role would not be wise; there is too much to know and too much responsibility; leases, advertising, screening, notices, collecting rent etc. My wife handles all that and more, between the two of them they have it covered. All the best.

Account Closed · Answer

@Sergio Ferreira there are laws that must be followed when dealing with tenant issues. A handyman will not know what is required by law in certain situations. You could end up in a lot of trouble without a property manager with proper training and certifications.

Account Closed · Answer

@Sergio Ferreira If you're running it from out of state, definitely go with a PM. Theres more to being a landlord than just some handyman work and it may leave a sour taste in the handymans mouth when they end up doing more than they thought they signed up for. I get that property management fees eat into your cash flow but down the road, itll probably end up more expensive or annoying without 1.

Todd Rasmussen · Answer

@Sergio Ferreira

We have enough on our plate just managing property management companies let alone the individual trades, handymen, and tenants. I think there needs to be oversight, so we always use a property manager. A 7AM phone call from Florida wakes you up at 4AM in CA. No thanks

Kenny Dahill · Answer

@Sergio Ferreira, I'll disagree with the posts you have received only.  Although they do provide some valid points.

However, this comes down to communication and clearing understanding the expectations.  If you're looking for a good handy person, then this can easily work as long as you:

• Define scope limitations
• Address the decision-maker for maintenance items
• Define who selects contractors
• What their hourly rates are
• Any max limits on their hours per scope before you hire a trades contractor

If you want them to be more of a Maintenance Coordinator, this too can work.  In fact, they can be more of a Management Coordinator.  You'll want to define:

• Monthly tasks you MAY ask for assistance: contractor coordination, move in/out inspections, unlocking for contractors, etc.
• Your responsibilities
• What they are not allowed to do: discuss rent rates and lease terms (if unlicensed), execute leases
• Rent Collection: Who and how will you collect rent.  If it's electronic, so much easier
• Late Rent:  Who will handle notifying the tenants?

There are successful ways to getting around hiring a property manager if you want to still be involved.  If you do get a handyman, pay them well and keep them on your good side.  PM's are going to charge you regardless when they send a handyman, you can easily minimize that expense by having a direct relationship.

It all starts with clear communication and understanding of everybody's roles.  Please use a contract agreement to protect your as well; indemnification is key.

Coco Cook · Answer

@Sergio Ferreira

I would never go with just a handyman. There are some jobs that require a contractor. Will a handyman call a contractor to cut down a 4 story tall tree that's leaning over your neighbor's roof? Will a handyman call a plumber to fix a gas line? These are issues that could end up in court with someone getting hurt. Is the handyman going to take those 10pm calls? What happens when the tenant pays late?are you going to handle that? I think you need a good PM who will keep your tenants happy, make sure the rent is getting paid on time, file evictions properly if needed, screen prospective tenants, and just generally keep the business running. Also, good PM companies have a small army of contractors, handymen, etc who have negotiated prices and since they share liability with you, they will attempt to ensure the property is well run.

DIY Property Management with A Few Reliable Handymen?

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