As property managers, one of our most important responsibilities is to oversee the maintenance and repair of the homes we manage. In fact, most states’ laws address this, in one form or another. For example, Nevada law, in its Property Management licensing section, states:
NRS 645.019 “Property management” defined. “Property management” means the physical, administrative or financial maintenance and management of real property, or the supervision of such activities for a fee, commission or other compensation or valuable consideration, pursuant to a property management agreement.
(Added to NRS by 1997, 954; A 2003, 932) (Emphasis added)
Despite guidance of both law and “common sense,” too often, our responsibility for overseeing the physical maintenance of the properties we manage is handled in a reactive, rather than proactive, manner. We wait for something to break, as opposed to thinking ahead and planning for maintenance and repair, before things go wrong. In upcoming posts, we’ll explore residential property maintenance, from the property manager’s perspective. Continue reading “Residential Property Maintenance – Systems and Procedures”