Rental Property Investor · New York City, NY · Member since 2017 · 93 posts · 101 votes
I'm curious how much you pay your handymen and how often and if there is some systematic way to price tasks. Mine charges me random amounts - could be $50 to assemble a piece of furniture (reasonable) but then $30 to hang a picture (1 nail!). Wondering if there is a better way. Also, how often do you pay them? I send out check right away, but thinking of asking him to move to monthly or bi-monthly payments to streamline the process...Any thoughts would be greatly appreciated!
Remember that $30 charge to hang a picture involves him driving to your property which may take 30 to 60 minutes out of his day to perform this simple task.
I pay my handyman as needed. Sometimes I don't need him for 2 weeks then the next week I have him jumping from property to property.
Occasionally I get some one else to quote a task and perform a task that I think he has quoted too high. This way he knows he didn't get some work because he was too high. This keeps my go to handyman in check on prices.
Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
9y
Hey @Julia Bykhovskaia my handyman is paid on the same schedule as you just explained, he will get a call from me handle the job and then send me the invoice. I make sure to pay him within the week of the work, and make sure to file the invoices away for reference and taxes.
In my opinion this is the best option, since you never know how much you will use him/her in one months time, they should be paid per job bases; however, the busier you get you can bring them on as a retained handyman. If you rentals/properties bump up in the next few years I would take to that person about actually joining your team as your sole handyman for everything, then pay them a salary with you paying upfront for all the materials instead of it coming out of their pocket prior to getting paid back.
Remember that $30 charge to hang a picture involves him driving to your property which may take 30 to 60 minutes out of his day to perform this simple task.
I pay my handyman as needed. Sometimes I don't need him for 2 weeks then the next week I have him jumping from property to property.
Occasionally I get some one else to quote a task and perform a task that I think he has quoted too high. This way he knows he didn't get some work because he was too high. This keeps my go to handyman in check on prices.
Dallas, TX · Member since 2016 · 1k+ posts · 745 votes
9y
We pay our handyman/contractor immediately or at the latest within the week in almost all cases. The only exception is if it was a super small job like sub $200.
We do this because he will drop almost everything to help us, and two we want a reputation with our contractors that we pay our contractors in full and in a timely manner once they have completed a quality job.
We use the same folks for most jobs and they will push other jobs out of the way or come out on emergency calls. I think we get preferential treatment in part because we do try to pay in a timely manner, remember a lot of these guys are living paycheck to paycheck, or have subs who are.
Real Estate Broker · Cleveland, OH · Member since 2017 · 719 posts · 658 votes
9y
$30 is very cheap - mine wouldn't even drive for that.....lol
I combine jobs - if tenants complain, I have 30 days to fix it. I come myself, estimate what's need to be done, if I can't fix myself, I tell them that I'll call my contractor and as soon as he's available - I'll give them 24 hour notice.
Usually I call my contractors for at least $100 job or they'll include the driving time in any job.
To call plumber - just to show up - costs $80-100 depends on a company or who's taking the call. Handyman - at least $35-50 to show up and plus labor/materials
In this business, it's beneficial to know how to do simple things: plumbing, electric, screws/nails. For serious things need to call them....and pay right away. Once you delay a payment, next time the toilet flooding on second floor - you'll call big ticket companies - $250-300 min
Investor · Monroe, WI · Member since 2015 · 691 posts · 610 votes
9y
I pay mine the same day he completes the job. My handyman is also one of my best friends who used to own a construction business but had some financial problems and went bankrupt. I just text him and tell him which house needs attention and I tell my tenant when to expect him. It works out real well, I'm helping a friend make money and he's helping me save money.
I typically pay him $20 an hour. He's been teaching me how to do light plumbing and electrical plus a number of carpentry tasks in case he is not available for any reason.
Pay them asap and pay them well... there is a shortage of tradesmen and there will continue to be an increased shortage moving forward. Not only is there not enough of us doing the work the quality of work is also declining. Data is showing that for roughly every 100 tradesmen retiring only 20 are entering the field. Find some younger GC's/tradesmen/handymen and develop a solid relationship with them as you're absolutely going to need it moving forward over the next 10-20 years.
yes, we pay as soon as we get the invoice....hard to know if we are getting scammed on pricing though...for example just had 2 bath sink faucets installed with under counter shut off valves, and replaced a defective smoke detector...charge was $433, of which $48 was parts (not including the faucets....)
@Julia Bykhovskaia I pay my handyman/contractor a set fee each month. We have come to agree on that price. He does all the work necessary at all my properties including snow removal and lawn care. Some months there is more work, some months there is less work.
Currently he has taken on an extra building I bought in a partnership with my sister and that will be an extra amount because he is renovating that building on top of the rest of the work he does regularly for me.
If he has subcontractors I pay them separately like plumbers or electricians. Usually if he has a day laborer like a painter he pays them.
I try to pay him in full around the middle of the month.