Small Unit Turnover Cost $2400. Need advice/help

[James Denon]

Looking for some feedback for what I consider a pretty bigh bill for apartment turnover: $2400 for a 800sqft 3bed 1 bath apartment. It has a small living room. The apartment is in Springfield Massachusetts area. Lower level of a triplex.

1.Paint:

Walls and ceiling 3daysx3worders=9 man-days of labor $1080.

Materials : Paint and caulking= $260

Total $1340

2. General repairs:

Remove old caulking and apply new to bathroom

Replace door locks to front and back entrances

Install 2 batteries to smoke alarms

Install 9 miniblinds

Clean windows and install 5 window screens.

2 daysx 2 workers= 4 man-days of labor $480

Materials= $146

Total= $626

3. Replace carpets

Remove and replace carpets from 2 small rooms

Trash and debris removal $50 labor

2 days x 1 worker= 2 man-days of labor $240

Materials $201

Total $491

Total $2400 for a small apartment turnover.

I dont think this is a sustainable cost given that the unit only rents for $1050 and there would be turnovers every other year.

These are the hidden killers of cash flow.

I think the labor is cheap but very inefficient. It should not take 9 man-days to paint a small apartment. There were only a few holes to patch. Only one big one.

What are your thoughts on what I was charged?

Next turnover, I am contemplating getting a 5gal bucket of ceiling paint and hiring a guy from craigslist or thumbtack and painting all the walls, ceilings and trims white. I dont think the class of tenants I serve care about having the walls yellow semi gloss.

Anyone know a good reliable and reasonable handyman in springfield? I am thinking of having a handyman on call for bigger repairs/turnovers.

I will tell my property manager to call him to do anything that exceeds $100. Has anyone done this?

Thanks in advance.

[Caleb Heimsoth]

This seems pretty standard to me, maybe the prices are different where you are.
Most turnovers will cost minimum 1-2k and that’s if it’s basic paint touch up and cleaning.

You shouldn’t have to repaint the full unit every turnover. You should be able to do touch up. Paint should last 5ish years at least unless your tenants are trashing it.

When was it last painted?

Also you shouldn’t turnover every year, you should find rentals where tenants stay multiple years.

Also this is why you need a lot of rentals and then should pay those off with the cash flow as quickly as you can. Otherwise you won’t have a lot of buffer