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Updated over 5 years ago,
Itemized Receipt For Turnover and Charges Reasonable?
I use a property management company I just had my first turnover on my rental property and have a couple of questions.
Here is the receipt for the turnover and the cost:
Make ready
Replaced carpet & padding in living room & 2 BR, cleaned carpet in attic, repaired vinyl floor, painted cabinets and property throughout, trash haul out/removed debris from garage & deep clean ($850 security deposit was transferred onto your HUD)
$2,755.56
This is a 927 sq ft SFH with vinyl flooring in the kitchen so the replaced carpet was for a living room and two bedrooms.
The questions I have are:
1.) Is it reasonable for me to ask for an itemized receipt breaking everything out?
2.) Do the above charges seem reasonable?
2.) In the contract we signed with the property management company when we first started using them there was a clause that said:
"Expenditures for repairs, alterations, decorations or furnishings in excess of Three Hundred
Dollars ($300.00) shall not be made without prior written consent of owner, except in the
case of emergency, or if agent in good faith determines that such expenditures are
necessary to protect the property from damage, to prevent injury to persons or loss of life,
or to maintain services to tenants."
After the tenants left they sent me an e-mail saying they would have to fix some carpet, touch up some cabinets, and fix some floor. They never gave me an estimate or ran any costs by me before moving forward. The costs should have been discussed with me before moving forward correct?
I was expecting vacancies/repairs/maintenance/capex and have budgeted for it so no issues there. I am just new to real estate investing and feel like the property management company I'm using isn't that great. Thoughts?