At what point do I hire a full time handyman?

Question

Hello everyone,  I just closed on a 23 unit property,bringing my total number of units to 85. I find myself on the fence weather or not I'm big enough to hire my own full time handyman. I dont do much of the maintenance myself and usually hire different contractors/ handyman. Ideally I would like to have my own employee who knows how I like things done and also doesn't have 4 different jobs going at once, I would be their only priority.  Any knowledge about hiring a full time handyman would be great!

Nathan Gesner · Answer

85 units isn't enough. As Kevin said, you could hire the guy on salary so he's always available but you probably won't have enough to keep him busy 90% of the time. What you could do is hire him out to others at a markup so he's staying occupied and you're recouping the costs.

Kevin Moules · Answer

@Bobby Christoulakis, I would assume if you want a full time guy maybe the best way to go about it could be a salary. I am guessing with 60 units you may have something to do all the time, but what happens when you don't? Guy still needs to put food on the table and if there is no work, then getting paid by the hour wont help. He will have to look for a second job, which means your properties are no longer numero uno in his book.

I like what sam said, providing housing means no rent or mortgage payment which would allow that person a little more breathing room in their monthly expenses. Maybe at that point its by the hour?

As I have mentioned before I am a handyman and service turlock/modesto area. Maybe we can chat about what you are looking for and see if I can help you out. I am about to go full time with my business starting next month.

Bobby Christoulakis · Answer

Nicholas,  thank you. How do you pay him? Per hour, per job or just a set amount per month?

Nicholas B. · Answer

I went from roughly 30 units previously to 60 in the past year and expect to hit 100-150 by the end of 2019. Most of the new acquisitions are rehab projects, moving out old tenants, good quality renovation, and raising rents to the top of the market.

I hired a full time handyman as I started acquiring new multifamily to help with finish work on the renovations and also tenant repairs, move-in/outs, etc. I expect to have a full time and possibly a 2nd full time to cover all tenant maintenance issues once stabilized. My rentals are all in the $1000 range.

I would say at 85 units you are around what I have and factoring in the convenience and tenant satisfaction it makes sense. Not sure what your units are like of course so am just giving my opinion.

Sam Shueh · Answer

Provide free housing as well as pay by the job.