The Professional Services Every Landlord Needs
The Essential Professional Services Every Landlord Needs
Owning rental properties can be a rewarding investment, but it also comes with its fair share of challenges. While hiring a property manager is an excellent way to streamline daily operations and create a solid foundation, there are other professional services landlords may need to engage with to ensure their properties are well-maintained, legally compliant, and financially protected. At Doss & Spaulding Properties, we understand that property managers aren’t experts in every field—but we often have valuable connections to other professionals who can support you. Here’s a breakdown of the adjacent services landlords should consider.
1. Legal Professionals
Navigating landlord-tenant laws and lease agreements can be complex. Legal professionals, such as real estate attorneys, can assist with:
- Handling eviction proceedings or disputes with tenants.
- Advising on liability issues and protecting your rights as a landlord.
- Reviewing or drafting custom lease addenda.
- Assisting with a 1031 exchange to defer taxes when selling/acquiring property.
Having a trusted legal advisor can save you from costly mistakes and ensure you’re operating within the law.
2. Insurance Broker
Standard homeowner’s insurance doesn’t cover rental properties. Engaging with an insurance broker who is knowledgeable in landlord policies ensures you have the right coverage, including:
- Property damage protection for major damage or rebuilding after disasters.
- Liability insurance for incidents on your property (e.g., tenant injuries).
- Loss-of-income coverage if your property becomes uninhabitable due to damage.
A knowledgeable insurance broker will be able to find the right policy and customize it around your needs.
3. Licensed Electricians
Electrical systems are critical for habitability and tenant safety. A licensed electrician can handle:
- Repairs to outlets, wiring, or light fixtures.
- Upgrades for older systems to meet modern safety standards.
- Emergency repairs to restore power after outages or damage.
Electrical issues are not only inconvenient but can also pose serious safety risks—making expert assistance essential.
4. Plumbers and HVAC Technicians
Plumbing and HVAC systems are vital for maintaining habitable conditions in your rental properties. Professionals in these trades can help with:
- Fixing leaks, clogs, or broken water heaters.
- Maintaining heating and cooling systems for tenant comfort.
- Ensuring compliance with local codes for plumbing and ventilation systems.
Routine maintenance from skilled technicians can prevent costly emergencies down the line.
5. Accountants or Tax Advisors
Rental properties come with unique tax implications that require specialized knowledge. An accountant or tax advisor can assist with:
- Filing accurate tax returns while maximizing deductions for expenses like repairs, management fees, and depreciation.
- Advising on the tax implications of property sales or acquisitions.
- Helping you maintain clear financial records for your rental business.
Proper financial guidance ensures compliance with tax laws while optimizing your investment’s profitability.
6. Contractors and Handypeople
For general maintenance and renovations, reliable contractors or handypeople are invaluable. They can assist with:
- Painting, flooring repairs, and other cosmetic updates between tenants.
- Addressing wear-and-tear issues like broken doors or windows.
- Larger renovation projects to increase property value.
Your property manager may already have connections to trusted contractors, saving you time on vetting professionals.
7. Pest Control Services
Pest infestations can quickly escalate into major problems if not addressed promptly. Pest control professionals provide:
- Routine inspections to prevent infestations of rodents or insects.
- Treatment plans tailored to your property’s needs.
- Emergency services for unexpected infestations.
Proactive pest control protects both your tenants’ comfort and your property’s reputation.
8. Real Estate Agents
When it’s time to buy or sell rental properties, working with a real estate agent who understands investment properties is crucial. They can assist with:
- Evaluating market conditions to determine the best time to buy or sell.
- Marketing your property effectively if you decide to sell it as a rental asset.
- Identifying new investment opportunities that align with your goals.
Their expertise ensures smooth transactions and informed decisions.
Why Collaboration Matters
While property managers handle many aspects of day-to-day operations, they aren’t specialists in every field—and that’s okay! At Doss & Spaulding Properties, we pride ourselves on maintaining strong relationships with trusted professionals across various industries who can step in when needed.
By building a network of reliable experts—including legal advisors, CPAs, contractors, insurance agents, and more—you’ll have peace of mind knowing that every aspect of your rental business is in capable hands.
Ready to Simplify Your Landlord Journey?
At Doss & Spaulding Properties, we’re here to connect you with the right resources while managing your properties efficiently and professionally. Contact us today to learn how we can help you build a team of experts that supports your success as a landlord!
