Updated about 9 years ago on . Most recent reply
Milwaukee WI Property Repairs
Hi fellow investors,
My properties are having a lot of repair charges and i am suspecting my PM is not ethical. For those investors in Milwaukee, what is the percentage of repair/maintenance cost in respect to gross rents collected? For example, if gross rent is 1800$, what actual percentage of the gross rent goes to property repairs?
I am in the process of looking for a new PM as the one i have is incompetent. They put a new tenant in my property and evicted them after 3 months and they did not tell me of the eviction. The only way i learned of the eviction was through the monthly statement with eviction costs totaling 425$! When i asked they said it was a mistake and they forgot about it....
@Dawn Anastasi, @Shawn Ackerman, @William Newman, @Rebecca Knox, @Brie Schmidt, @Michelle Ayala et la, what % are you seeing in repair costs?
Tony
Most Popular Reply
It all depends on what area of the city you are operating in. If you're in a lower income neighborhood with old housing stock, there's a good chance your repair costs may run fairly high.
With that being said, if they failed to tell you about an eviction, I would certainly be done with them. And this happened on a tenant who they just placed seems like another red flag to me. I'd cut ties.