How do I check the repair backlog across a cottage rental portfolio?

Ask the seller for work orders, owner requests and guest complaints, sorted by cottage. See which repairs were completed, which are open and which were deferred, and note who decided to defer them. Cross-check the list against the expense lines in the financial statements to see what has actually been spent.

Then walk the properties. A portfolio is spread out, so choose a mix: the best-reviewed, the weakest, and a few picked at random. Look at roofs, decks, docks, heating, water systems and anything guests complain about. Photograph the problems you find.

Finally, work out who pays. Some repairs fall to the cottage owners, others to the management company, and this can shift in a sale. Ask how owners respond when told about costs, and whether any have refused. Your accountant and a building inspector can help you size the backlog before you decide on terms. Ask the cleaners and caretakers too, since they see small problems before anyone else. A short chat with the person who turns over the cottages each week often reveals more than the work orders do.

Key takeaways

• Get a repair list by cottage with dates and who is responsible.
• Visit a mix of the best, the weakest and random properties.
• Find out who pays for deferred work and how owners react.
• Talk to cleaners and caretakers, who spot problems first.