Taking too long before repairing something which needs a quick repair may cost you more if you wait too long before doing the repairs. I saw this on youtube. One landlord decided to learn plumbing and a few other 'handy skills' and anytime there's something which needs fixing, he grabs his tools and doesn't have to pay anyone a lot of money for small repairs. It does sound like a great way to save as much money as you can and at the same time keep maintenance costs [of your property] down. Would any of you consider doing what this landlord did or do you think he's just being a cheapskate?
Learning the basic skills is definitely useful, not only for a landlord but for everyone. Sometimes all you really need is one tiny fix that is easy and simple to do, and the professionals will charge you a lot for it. So yeah it's not a bad idea, especially if you have more than 1 house/apartment.
I do believe that it is one of the best way to make sure you do not spend way too much money. Also the skills learnt can be very helpful. U would definitely do something like that to save money.
As a landlord, it's definitely worth learning how to tackle minor repairs yourself. Besides saving money, it saves hassle in trying to arrange a third party to undertake the repair and trying to co-ordinate a time when your tenant will be around. You'll be able to get the repair done for your tenant much quicker too and a happy tenant is invaluable.
That is a great idea, fault is am a lady and am not so handsy with hammers and nails...i know it sounds nothing short of a clumsy excuse but i can say i tried fixing my bed a couple weeks ago and my neighbor had to step in, i almost bought another bed, damaging instead of fixing is what i was doing...so rating myself at that, i'll sadly have to part ways with some money in the repair arena
I think that this is important for homeowners of any kind whether you are a landlord or not. YouTube and the internet make it SO easy to learn new skills. We always watch YouTube videos before we jump into a home improvement project.
The best way to save some money as landlord is to make sure that your tenants use the resources given in a correct manner. I do not think it can be put in a better way but the tenants need to be very careful about the resources.
That is very true, I do the same on our property, everytime the walls begin to chip off, I get the paint and brsh and fix and repaint the walls right away, letting things get way out hand first befirre you repare them, end up being very costly.
As a landlord I think it is imperative for you to take the time to learn basic contracting and repair skills in order to optimize the true value of your investment property. There are quite a few programs or classes that are available at local supply stores that will be able to teach you how to do things such as installing a wood floor or re-tiling a bathroom. If you have a tenant whom is able to provide you with the level of experience that but you allowed to save some money by doing basic renovation of the home that that's great but I think that you should take a look at being able to do so yourself versus having someone else come in and overcharge you four basic repair.
