landlord
One of the realities of home ownership is dealing with repairs and maintenance, this is particularly true for managing rental properties. With our three rental properties, our own home, plus a vacation beach rental, we have more than our fair share of home maintenance.

Even with all that we own, more often than not, things are pretty quiet. These last couple of weeks have definitely been an exception to that rule!

Within a day or so of finding out that the microwave was fried at one of our properties, the dishwasher went out in our own place. By the time the repair guys were coming out for both of those fun items, there was suddenly a leak from a radiator in the unit above another unit of ours. Plus, we were already in the process of renovating our third rental property. To add insult to injury, just as we are working on the final repairs from the leak of last week, there was a leak reported this morning in the unit with the microwave issue that had finally been resolved.

Lessons Learned:
1) Divide and Conquer. In sum total, we were dealing with a microwave, dishwasher, leak, and renovation simultaneously. James would admit that I say “we” liberally, as I ended up taking care of the majority of the repairs and coordination myself, since my office is closer and I had the flexibility to deal with things. We have shared the renovation responsibilities, with me doing the design and selection and James managing the contractor. This was enough to keep things manageable throughout the process.

2) Repairs don’t always pay. There are times for simple repairs, but more often than not it seems that buying new may be the cheaper route to take. When considering whether to call the repair guy, you should assess how old the unit may be (guess if you don’t know for sure), what the overall condition is, and what type of an issue is happening. In our case the dishwasher in our place was 15-20 years old and the microwave was 10 years old, both would have cost slightly more to repair than to replace. Many appliances over 10 years old don’t have parts available, so you may not even have the option. If you do try for a repair that leads to needing a replacement, ask your repair person if they have any discounts for a purchase. Sears repairs are $85, but they also give you a coupon for $45-$75 off a new appliance, depending on the price. In our case we paid more for trying to repair the units, as well as the extra time.

3) Be diligent. In managing this process I had to follow up umpteen times with repair guys, contractors, delivery guys, renters, neighbors, rental management folks, you name it. From my experience it pays to be on top of it and follow up as much as it makes sense. Sears was pretty horrible when it came to scheduling folks, rescheduling multiple times. It felt a bit like ground hogs day, until finally they showed up at the wrong property with the wrong appliance after having confirmed three times the address and appliance that was being delivered. However, the very next day Home Depot showed up with zero notice whatsoever, so not much easier. Luckily with the few quirks in scheduling I happened to have a neighbor help in one case, and our contractor happened to be in the neighborhood for the unexpected Home Depot delivery. Whew!

4) Diplomacy pays dividends. In dealing with repairs, it is very easy to get annoyed or worse. From my experience, there is a time for being nice and times when it is helpful to make it clear that you are unhappy. In communicating with folks within a condo, or vendors you have used repeatedly, it is particularly important to be nice and fair. You can build a lot of good will this way. However, there were a few times I had to complain about total lack of service, and this helped to have them take me seriously and help resolve the situation. I also ended up getting an extra $50 gift card from Sears.com for dealing with my hassle.

Any repairs/appliance nightmares to share?

Miel

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

Couples Finance

Blogs You Should Read

Companies Supporting The DINKS

Please consider visiting our gracious supporters:

Get an education with the Online Certificate Programs at Washington Tech

7binaryoptions.com: Your one stop information source for trading binary options.

Get the Latest Coupon and Discount Codes at Freecouponcodes.net.

The best cheap web traffic that comes in handy for your website traffic needs.

Shop till you drop and discounted offers with Shopee promo codes.