Is turnkey repair / painting really this expensive?
Greetings!
I use a property management company to rent my units, and they are doing a good job. But every time one tenant leaves and another comes in behind them, the costs associated with the turnkey repairs seem really high.
For example:
I have a house that is 3/2, 1500sf. The quote on the repair work is $2500, which includes painting the whole house for $1500 (and a bunch of other miscellaneous stuff, including a couple of small plumbing repairs, reglazing the tub, cabinet repairs, etc.)
The house went vacant a year ago, and we paid to paint it then -- for $1500.
Questions:
1) Is it normal to paint the whole house between each tenant?
2) Does it really cost $1500 to paint the whole house?
3) How does anyone make money on their rentals with this sort of expense on the turnkey?