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Updated over 2 years ago on . Most recent reply
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How bad is frequent repair in the past year?
I've been keeping eyes on two properties and requested the repair history from the current PM. Property A has very frequent repair history (30% rent went into repair last year), the largest ones being "new LVP", "kitchen cabinet paint", "New Gas Furnace" and "misc repairs" (I can't tell what it is from the report). Property B has normal repair history (costs about 10% rent). Which one should I go for? Here's my thoughts:
Property A: already repaired so many times, maybe it's less likely to have problems again?
Property B: maybe tenants are a lot nicer
Most Popular Reply
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To be honest, I would need to tour these places and even have a home inspection done. This doesn't give me enough info to say which one I would go with. They could both be terrible or amazing, just don't know until your able to tour it and see what else would need repairing. Average repairs can be 5 to 15% of rental income. Hope this helps! Good Luck, hard choices these days in this market.