Decisions. Decisions. Decisions.

As a property owner, you are continuously presented with maintenance issues.   Some issues are small like cabinet doors that don't close right,  and other issues are big like roof replacement.   For some property owners, roof replacement is the least of their worries, but I am not going to go there...

The decision making process for property managers (homeowners, investors, landlords, managers, etc) can be simplified by answering several questions:

1. Is the issue at hand urgent and necessary to maintain safety and/or preserve the investment?
2. How long do I have to solve the issue and what are the implications of delaying a solution?
3. Budget?  If the issue is not budgeted for, you will need to find the $$$...

The first question is the first for a reason.  As an owner of real estate you have made an investment and it is in your best interest to preserve and protect that investment.  In addition, you have a responsibility to keep your property safe whether for your family, your tenants, guests or anyone else...

The second question has as much to do with saving money as it does with protecting the users of the property and maintaining your investment.  It doesn't matter if you live in a bungalow, a 5000 SF home on the ocean or are managing an apartment building- all property owners want to minimize their cost of maintenance and capital expenditures.  If you have the time and delaying the solution will not cause a hardship, you can start with the most convenient solutions. 

EXAMPLE: My company manages many different types of property.  We recently had a bathroom tub stop draining, an issue that was reported by the tenant.  The issue at hand was important, but not urgent (the solution could be implemented over a few hours). We sent a member of our maintenance team to troubleshoot.  He spent 3 hours and $35 in materials, and was unsuccessful in freeing the drain.  In the end we had to call a drain opening company, who solved the problem in 2 minutes...  Now, 9 out of 10 times our guy is successful and when he is the property owner saves money.  In the above example, we would have saved money had we just called the specialist first, but we don't have the luxury of hind site so we play the odds.

 If the above example had been different... Instead of a tub drain, it could have been a sewer drain that was backing up into a finished basement...  That solution would have been urgent and the we would have called the specialist immediately.

The third question is where I find most people start.   My point in starting with questions 1 and 2 is that you don't always have the luxury of proactively planning your maintenance.   In most cases there are three options that you can look at:  1) The Nickle, 2) The Dime, and 3) The Quarter Solutions.  Your answer to question #3 will be based on a number of factors, the least of which may be budget.  

My advice to you is to find a way to implement the most appropriate solution for your investment.