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Updated almost 5 years ago on . Most recent reply
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Make Ready Quote: Reasonable or Outrageous?
I am going through my second turnover in the rental property space since I started acquiring rentals in 2017. I currently have 5 SFRs. The first was after a family (husband, wife, 2 young kids) stayed in the house for 2 years and 3 months; it cost me about $1,600. Nothing major.
The current turnover / "get ready" is with another property management company, who I've frankly not had the greatest experience with (not terrible, but not great). This house was occupied for 1 year and was occupied by Section 8 mother and 4 young children. The make ready quote is $2,499. They sent pictures and I didn't see anything awful. Here is the breakdown of the quote:
Remove all trash: $172.50
Paint all walls trim and doors: $1,380.00
Broken blinds: $115
Light fixture missing globes: $46
Install security door on front: $402.50
Repaint entry porch: $46
Install 2 jelly jar missing: $50
Cut tall grass: $92
Final clean: $195
TOTAL: $2,499
Is this reasonable or outrageous? To my untrained eye, everything looks okay except the $172.50 remove all trash (seems high) and paint all walls trim and doors $1,380. I understand the PM company needs to make money, but these two items, especially the trash removal, seems a bit high.
The good news is I have diligently put money in reserves from rental income during the year and this property's reserve account can cover this turnover (completely covered by tenant's past 1 year's rent).
Is this reasonable and I should just approve? Should I question some of the charges? Should I be asking for tenant's security deposit to cover some of these items? This is all still new to me, so trying to balance between what's fair and what's outrageous. Thanks in advance.
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@Mark S. It looks reasonable given all those items. However as part of the training process (you training the PM) you need to question it anyway, if only to show the PM you are paying attention. Section 8 tenants will be more 'wear and tear' especially with 4 young children. Apartments are supposed to be left 'broom clean' per most leases so yes have the PM recommend what portion of the security deposit to apply. All the best!