Orangevale, CA · Member since 2015 · 2 posts · 0 votes
My tenant recently moved out of my rental in Birmingham, AL and looking past the fact that I didn't know about the vacancy until after it had happened, I recently received a note from my property management company asking if I would like to put a cage on the HVAC for $440 to prevent any theft, as well as an itemized quote for $4k to make the place rent-ready. Some of them made sense to me such as interior paint at $990. Others though, like a lightbulb change for $55, a padlock for $55, and putting up blinds for $440 seemed a little high.
Making ~3200/year on this property in cashflow, it's quickly starting to look like a bad investment if it costs $4k/year to turn over a tenant.
Does anyone have experience with this? This is my first tenant turn-over, and I'd like to ensure that I'm not being taken advantage of due to my lack of experience.
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
6y
Your PM is price-gouging you - $55 for a light bulb replacement? Ridiculous. Find a new property management company and take a look at their list of standard charges prior to signing with them so you don't get any surprises.
my property management company asking if I would like to put a cage on the HVAC for $440 to prevent any theft
I have some properties in Baltimore that have cages on the HVAC units outside. General rule of thumb for out of state investors would be to stay away from properties that need "cages". As for you 4k estimation to turn over the unit, sounds about right for a unit that needs a "cage"
Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
6y
It's hard when you are at the mercy of a PM. Most suck but one with integrity and ability could help. Also, this is why I manage many of mine. I have to get the great tenant that is going to be there a long time. Turn over every year is a loser in most cases.
Greenville, SC · Member since 2015 · 7 posts · 3 votes
5y
Similar situation happening to me in Birmingham, AL. basically quoting 6,000 for a variety of things that end up being sheetrock repair in 3 places, paint the entire house, remove garbage and mow the lawn. Tenants left after 3 years in fantastic shape; 3,600 to repaint the whole house is ridiculous based on the pictures i have seen of the condition.