This is for a property in Kansas City. A 1500 sqft house. Tenant did treat it poorly, but wondering if these expenses are reasonble?
Maybe but why are you replacing outlets I’ve never done that before unless one occasionally went bad. I also like ceiling fans and tenants do as well what justification did they have to remove them. Same with the back door what is wrong with it where it needs replacing. 30 blinds broken, sounds a bit extreme as well, usually I replace a few but never all. Same with the tile is it chipped or does it really need to be covered. I’ve never hired a painter to know prices but you are looking at most 2-250 in materials so that’s 2300 in markup for labor for a fairly small house. If this is a house you just bought a lot of this could be deferred maintenance and you should have planned on updates on the turn. If you had it a while seems like a lot to need updating but if there is damage how much was the deposit and what is the on doing to recoup your losses from the tenant.
The costs seem reasonable, except for the painting costs. Are you replacing outlets to go from two prong to three prong? They can’t all be bad at the same time. I’d keep the ceiling fans. If you have a property manager, they (or you) should absolutely try to recoup costs from the tenant.
Those expenses look reasonable to low from my point of view. Trades are very expensive these days, and getting things done quickly and properly is what counts. As land lords we get to improve our properties and write off expenses against income; generally that is a pretty good deal.
Pricing isn't out of line - maybe the painting is a little high, but it depends on if it included the paint and materials.
I question why you are doing some of the work. Are you updating the place or fixing stuff the tenant damaged? Because, a lot of that stuff is not under normal wear and tear.
From a trade perspective, it is not bad for all of the items you are buying and the labor involved. Quality tradesmen are hard to get scheduled these days and you will pay a little more for the good ones.
None of the unit rates look particularly high to me, the paint would be high for a single coat but if multiple coats are required that quickly becomes more reasonable. Also not sure if there's trim paint included in that isn't really itemized but blended into the wall paint pushing the overall rate higher.
The question you should be asking yourself is whether all of the work performed was actually required. If so, I don't think you did bad.
Costs seem reasonable, assuming all this work needs to be done. Did you get photos of the damage after the tenant left to verify it is all needed?
This is one of the risks when people invest in cash flow markets. Often you find C class properties and tenants will be hard on the property, resulting in larger expenses.
You are into this for $6K, so even if you are cash flowing $500 a month, it is a break even for the year. That doesn't include other repairs, lost rents or leasing fees. This can turn a "cash cow" into a "cash hog" quickly.
@Joe Splitrock those costs look spot on to a bit low to me. I turn 300 units each year.
The costs seem mostly in line, maybe a bit high on the paint, but then we do all our own work.
I understand replacing the electrical outlets, we do this too since our houses are older and some of the outlets are pretty grungy/ have stopped working, and it looks a lot nicer with white outlets instead of the beige or brown that was in style when they were installed. Thankfully, a lot of these charges should be one time items, or at least not every turnover, and future repairs due to tenant damage will be paid for by the tenant.