Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Rental Property Repairs
Hi BP!
I am looking over the Profit & Loss statements for a duplex rental property located in Columbus OH. In each of the last last two years the owner has spent $30,000 in repairs and maintenance which is significantly cutting into the profit margins but seems to signify that the property has a lot of differed maintenance issues that are finally coming into the light.
Should I expect this trend to continue in the future? The property is near Ohio State University and rented to students which leads me to believe that a lot of the repairs are going towards tenant damage, is it possible to write certain clauses into the leases that would have the tenants pay for any repairs they willingly caused (i.e. broken doors or windows)?