It goes without saying that repairs are an inevitable factor in running a property management business. Not only are they important to keep your tenants happy, but they also ensure your investment property retains its value. Failing to make timely repairs can lead to more extensive, and in turn costly, damage. That said, the consequences do end there.
When a landlord does not complete necessary repairs and the home becomes uninhabitable, the tenant may be able to withhold rental payment. In some jurisdictions, tenants can hire a third party and deduct repair costs from the rent.
So, both prompt response and timely action are critical to avoiding tenant disputes. In general, an acceptable response time is 24 hours. This allows time to find the appropriate vendor and give the tenants adequate notice of entry to complete a repair. However, for non-emergency or minor maintenance needs, 48 hours is acceptable.
Either way, communication with your tenants is key. Respond as quickly as possible to acknowledge their concern and let them know the steps you are taking to correct the problem. That way, even if it takes a little longer for any reason, the tenant still knows you are working on fixing it, and their well-being is important to you.