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How to Deal With Maintenance Coordination When You're an Accidental Landlord

System - Wednesday, April 13, 2022

You just woke up from this really strange dream that you were suddenly a landlord and had to handle a rental property all on your own. There's only one problem... this isn't a dream!

It seems that every day, someone becomes an accidental landlord and winds up with a property in Charlotte that may even harbor a tenant. If you've found yourself in this situation, the stress can be enough to overwhelm you.

However, you can manage your property with the right steps. The first thing that you'll need to do is carry out maintenance coordination procedures. How does this work, you ask? Keep reading to find out!

Find Out Your Worth

The first thing you'll want to do is figure out the value of your property. This will not only help you know the worth of what you're working with, but it will also help you charge a price that's fair to both you and any future tenants.

One of the quickest and most affordable ways to do this is by looking up the prices of similar lots around your area. You can estimate your rental property by finding out what other owners charge.

Alternatively, you could also ask a professional agent to have a look at your home and give you a more accurate statement.

Get Approval From the Lenders

Although the title to the property is in your name, you technically don't own it completely if you have mortgage lenders over it. With that being said, you'll have to make sure you get permission from the lenders before you can let the home.

By doing so, the mortgage company can restructure the loan and offer a different interest rate, which would likely be in your favor. Work things out with them and get approval before you start renting out to tenants.

Take Care of (Maintenance) Business

Finally, you can start to work on your maintenance for the property. For this, you may want to find contractors who can help you. However, if you're short on cash, you should be able to handle most matters yourself.

Make sure to conduct property repairs first (call a professional if it's too complex) and make sure the structure of the house is sound. In terms of the more decorative aspects, it's best to keep things neutral to attract the maximum number of potential tenants.

Get Started With Maintenance Coordination Services

Now that you know how to conduct maintenance coordination services, you shouldn't have a problem taking care of your procedures. That said, you'll want to make sure your rental property is in the best hands to optimize your earnings. We're the people who can make that happen.

Wilkinson Property Management is serious about making sure you get the most out of your rental property. We offer a ton of resources for Charlotte, NC owners like you, so you can have your residential property managed, maintained, and prospering.

Make sure to take a look around our site to learn how we can help you, and give us a call if you're ready to work with us. Let's work together to take care of your needs!