Make Ready or Rehab for Apartments

[Dawn Campbell]

Good afternoon,

Started to help some friends out in their PM/Owners company in their effort to get a few newly acquired distressed properties into shape.  In the last 2.5 months, we have been working tirelessly to make these reach our very high standards.  We have now hit a road block and need help with some questions answered since we don't know this industry at all.

1- What is the difference between a Make Ready and a Rehab?

2- What is the difference between an Easy, Medium and Hard Turn?

3- If there is a determinable factor for the difference between the three above descriptions, how do most Make Ready companies charge for them? And who determines the above?

4- Who maintains control of items purchased for the above work, the Management company/Landlord or the Make Ready/Rehab contractor? Who pays?

5- Is most work done for either the MR or Rehab, based on Labor Only pricing?

6- If anyone has a standard Pricing sheet for all Make Ready and Rehab work, would you be willing to share it with me?

Thank you for your time.