LTR Investors: What Repair Authority & Contact Style Do You Want?

[Courtney Amaya]

I’m seeing more investor clients—especially those building larger rental portfolios—want much more say in repair authority limits and how we communicate maintenance issues. Most management companies in my market set a blanket authority limit, $500 is common. 

I've seen chatter in a lot of Property Manger forums talk about this as “micro-managing” and try to discourage it- -  but honestly, I see it differently. Our Property Management Agreements actually let owners set their own comfort level for repair limits and communication, because building trust matters most to us.

So my Question to all you Investing Guru's: 

If you’re setting up long-term rental property management, what repair approval dollar limit would feel right for you? 

And what kind of updates do you want on repairs—do you want a heads-up for everything, just big-ticket items, or something else?