Maine-tenance on multifamily

[Ross Francis]

Good Afternoon, 

Wondering if anyone could speak to maintenance costs on multi family properties in the great Portland market. 

Interested to hear from investors that have held properties in the area and whether they've felt a decline in maintenance for the winter months. 

Thank you in advance! 

[Mary Ainsworth]

Quote from @Ross Francis:

Good Afternoon, 

Wondering if anyone could speak to maintenance costs on multi family properties in the great Portland market. 

Interested to hear from investors that have held properties in the area and whether they've felt a decline in maintenance for the winter months. 

Thank you in advance! 

As a hard money lender who works with many investors in the Portland area, I can share some insights on maintenance costs for multifamily properties in this market, though individual experiences may vary:

Lots of investors report a slight decrease in maintenance costs during winter months, bc of:

- Fewer landscaping needs 

- Less wear and tear on HVAC systems (as heating is generally less intensive than summer cooling)

- Reduced tenant turnover in winter

Winter-specific issues can arise:

- Potential roof repairs due to heavy rain or occasional snow

- Gutter cleaning and maintenance to prevent water damage

- Heating system repairs or maintenance

Portland-specific factors:

- The mild climate helps reduce extreme weather-related maintenance issues. 

- Older housing stock in some areas may require more upkeep. 

- Strict local regulations can also sometimes increase compliance-related maintenance costs

Cost-saving strategies I've seen help:

- Preventative maintenance programs can help reduce overall costs obviously 

- Some investors report success with in-house maintenance teams for larger portfolios

- Energy-efficient upgrades can help reduce utility costs in the long run

Your specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!

[Ross Francis]

Very helpful! 

Thank you, Mary!