Repairs Up to a Limited Dollar Amount

Most management contracts allow the property manager, without prior owner approval, to make repairs up to a limited dollar amount. The limit ranges from as low as $50 to as high as $400. Over $400 a bid is usually required and owner approval mandated. Multiple bids in the busy Denver market are difficult to obtain. Most property managers have vendors they know will provide competitive prices and reliable work. It is reasonable to deal with a single bidder when the property manager knows the firm and the other potential vendors are an unknown quantity.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

The Check is in the Mail (From the Owner?)

As a residential property manager, you will sooner or later be asked to have significant repairs done on your client's property. There are a number of significant issues that such projects raise. We will look at formal bids, getting necessary funds and completion of such projects over the next few weeks.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Message Loud & Clear!

So the message is loud and clear. DO NOT USE individuals that cannot provide proof of workman's compensation insurance coverage. Should you do so, you are exposing yourself and your client to significant legal liability in case there is an injury. When your client presses you to find less expensive repair people, do not give in to the apparent quick solution of using an uninsured independent contractor.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.