Real estate investors who own and manage rental properties appreciate the dynamics of the industry. Sometimes real estate values are too high for a particular area but that also means rental income is higher as well. Values will rise over time and given there can be a few blips here and there,real estate investments property appreciation is a given.

Other times, real estate values fall and investors know that just because someone else is dumping their property, the long term investor simply weathers the storm.

One dynamic that doesn’t adjust over time is keeping the units in shape. From regular maintenance calls to appliance repair, keeping the property in proper shape will garner higher rents and attract better tenants. You can do most of the repair work yourself or you can hire it out. Whether or not you use professional services to help manage and maintain the property is completely an investor call but investors with several properties will no doubt employ the services of a professional more than an investor with just one or two units.

When working with someone charged with making a repair for the first time, perform your own due diligence and ask for references. Don’t just consider the quality of a website when choosing a company to help around the house. When contracting with the business, ask in advance how long the job will take. You’ll usually get an estimate along with a statement to the effect of, “That is unless we find something we weren’t expecting.” When you receive the bill, compare the hours of work listed on the invoice compared to the original quote and hold the contractor to the original estimate. You may not win each time but the contractor will know they won’t be in line for the next job. After an initial job or two is completed, you’ll have a firm idea on how reliable and cost-effective your new hire actually is.