Tenant Turnover Costs

[Ryan Huffman]

My tenant recently moved out of my rental in Birmingham, AL and looking past the fact that I didn't know about the vacancy until after it had happened, I recently received a note from my property management company asking if I would like to put a cage on the HVAC for $440 to prevent any theft, as well as an itemized quote for $4k to make the place rent-ready. Some of them made sense to me such as interior paint at $990. Others though, like a lightbulb change for $55, a padlock for $55, and putting up blinds for $440 seemed a little high.

Making ~3200/year on this property in cashflow, it's quickly starting to look like a bad investment if it costs $4k/year to turn over a tenant.

Does anyone have experience with this? This is my first tenant turn-over, and I'd like to ensure that I'm not being taken advantage of due to my lack of experience.

Any insights are appreciated.

[Karl B.]

Your PM is price-gouging you - $55 for a light bulb replacement? Ridiculous. Find a new property management company and take a look at their list of standard charges prior to signing with them so you don't get any surprises.