Rental property maintenance costs : share your experiences
I have a SFR in Hillsboro area. The property is being managed by a property management company. For the most part, I am satisfied with their management: they have placed high-quality tenants who have paid rent on time, largely taken good care of the property. Lately, however, I am noticing with awe as property maintenance costs have escalated. Consider this:
In 2014, a paint touch up job used to cost us ~$300.00. Last year after a really bad tenant spell, we restored a lot of the property and repainted the whole house. Recently there was a tenant turnover and I received a bill of touch up (over a brand new paint). The cost = $800.00
I have also received several seemingly frivolous maintenance requests from the tenants. The property management company is more than happy to comply, and average service call has cost me over $300.00 no matter what the reason.
The property is aging, therefore there are a few failing parts, but that aspect notwithstanding, every job is costing us twice as much as what it used to cost historically, ~6 years back.
I am interested in hearing the experience of other landlords in the area: is PDX area really getting that expensive? Is tenants' mindset shifting? We used to have tenants who were handy and did a lot of small fixes themselves. Lately, we are seeing tenants who wish to treat the property like a resort room, where they will call maintenance to help them light the fireplace (this indeed has happened a number of times).
I also think that the property management company is involved in this to an extent. They are padding costs and increasing their margins from the maintenance calls (these maintenance calls are managed by their own staff, therefore they set the rates).
I would like to hear experiences of other landlords. (At this time, I am not thinking of switching my property manager therefore no solicitations please!)