It can be pretty tempting to put off fixing a leaky faucet or letting the roof go because "it isn't that bad yet." This is especially true for new investors who are still struggling to turn their investment properties into profitable endeavors. After all, a penny saved is a penny earned, right? Not in this case. Below are three important reasons why you shouldn't ever put off making repairs to your investment properties.

1. The Problem will Get Worse. All major problems associated with real estate start out as small problems. Some are caught early and others are not caught until the problem is a big problem. If one of your tenants reports a small leak or some other small problem, it's wise to fix it immediately to prevent a major problem from occurring. Major problems always take more time and money to fix, so nip the problem in the bud when it is first brought to your attention.
2. It Will Save You Money. Sure, you don't feel like spending $5,000 replacing a roof, but if you wait until the roof is missing a lot of shingles to replace it, you may find that some of the wood beneath the shingles has rotted or, even worse, water has leaked from the roof between the walls and created black mold. If one of the latter two situations occurs, the original $5,000 cost to replace the roof will seem like pocket change because now there is much more wrong with the rental than just the roof. This applies to all small problems. If you fix them when they're small, you're going to save money in the long run.
3. Tenants will Remain Happy. If for no other reason, fix reported problems promptly to keep your tenants happy. If your tenants remain happy, they are more likely to renew their leases which will keep money flowing into your account.

What does that mean for new investors? If you just moved to the Houston area and figured you would start making a little money on the side with a rental property or two, you had better get the help of a professional who is familiar with the area. Honestly, there are many Houston investors who have lived here their entire lives and still don't know the area well enough to successfully manage their rentals. Below are three reasons why you need a property manager with a great deal of local knowledge behind your investment properties.

1. Advertising – Finding tenants for rental properties isn't as easy as it sounds. A lot of new investors have had rentals sit vacant for months before they found their first renters. That is not a good way to start your business because it'll put you in the red real fast. The key to finding good renter fast is great advertising. Professional property managers know the area well enough to know exactly where and how to advertise your rentals to find the tenants you're looking for.
2. Pricing – Just like it is with homes for sale, rental properties have to be priced in accordance with the rentals surrounding them. Seasoned property managers are familiar with the various neighborhoods in Houston and they know how to pull comps on the rentals in those areas to ensure that your rental will be priced right. This is important because if you price it too low, you might get it leased quickly, but you'll still lose money. And, if you price it too high, you're going to be sitting on a vacant rental, footing the bill yourself.
3. Problems – Finally, finding a manager who has a lot of experience with Houston rentals will save you a lot of time and money when your properties experience problems. If the rental has a maintenance issue, your manager will know who to call to get it fixed for the most reasonable price. And, if you have a problem tenant, your manager will know how to handle the tenant in able to get the issue resolved.

You may already have a local Houston apartment manager who you are happy with, but still wonder if he/she is doing everything possible to keep your costs low. The checklist below will help you determine if your manager is working to reduce your costs over time. And, if you're still looking for the right management professional, the list below will give you an idea of things to look for.

• Ground Maintenance – Often times, managers focus on keeping properties, especially apartment complexes, maintained on the inside and forget about the outside. Well, the outside of the building is just as important as the inside. Not only do you want the grounds maintained for curb appeal, but they need to be maintained for monetary reasons too. For example, if the building is surrounded by old, well-established trees then your management team should keep these trees trimmed in the summer to prevent limbs from hanging over the roof. Tree limbs are a major cause of roof damage...and their leaves can cause water problems when the guttering isn't properly maintained too.

• Season-Specific Maintenance Checks – Every property manager should conduct season-specific maintenance checks on their properties, especially those managing apartment buildings! This is the time when furnaces or air conditioners (given the season) should be checked, filters changed (and replacements left with the tenants), and fire alarms and carbon monoxide detectors tested. All of these things can prevent major emergencies from happening, which is why they should be done twice a year...once before spring/summer and once before fall/winter.

• Takes the Initiative – Finally, not all problems are going to be reported by a tenant. A good, local Houston apartment manager will take the initiative to conduct regular walk-throughs and drive-bys. Then, if the manager notices anything out of the ordinary or the start of a problem, he/she will also take the initiative to fix it immediately before it escalates into a bigger, more costly problem.

Houston apartment managers have a great deal of responsibility on their shoulders. Many would argue that these individuals actually have more responsibility then the typical residential property managers because they are responsible for a larger number of units and people. However, that's debatable because there are some residential property managers that have a multitude of individual properties they are responsible for and some Houston apartment managers are managing complexes that contain less than 20 units. Below are some of the responsibilities most apartment managers handle.

• Marketing – Marketing is required for apartment complexes. Why? To draw in tenants and beat out the competition. The building managers are responsible for seeing that advertisements get placed in the newspapers, on billboards, flyers and many other places targeting the right crowd.

• Showing Units and Prescreening – Whenever an interested party wants to view a vacant unit, the apartment manager is the one who schedules the time and shows the apartment. If the person is genuinely interested in moving into the space, the manager will then sit down and have the potential tenant fill out an application and begin the prescreening process (involves background check, reference checks and validating employment records) to ensure the person is a right fit for the complex.

• Collecting and Distributing Rent – Houston apartment managers are also responsible for collecting the monthly rent from tenants and seeing that it gets deposited into the owner's account promptly. If a tenant misses a payment, it is up to the manager to track the tenant down and collect the money. This also means that the manager is responsible for starting the eviction process, when needed.

• Coordinating Maintenance – Maintenance issues are generally an ongoing thing for apartment complexes because there are so many units. The manager will review the maintenance requests from tenants and coordinate the repairs so the owner doesn't have to worry about it.

• Maintaining Tenant Relations – Finally, Houston apartment managers are responsible for maintaining good relationships with the tenants. This makes tenant feel easier about communicating with the manager when a problem arises and it also make it easier for the manager to approach the tenant regarding certain issues that may come up. Keeping a good rapport with tenants is also important because it increases the chances of renewing leases, which keeps the income flowing.