Hello all,
I am purchasing an 8 unit apartment building in Louisville, KY. I've decided to handle the management myself... In an effort to delegate some tasks, I am looking into the following: I have a guy who's done ongoing yard maintenance for me at another property. I know him personally and know he's handy for general maintenance and believe he will be a good resource to be a point of contact for tenants when they have maintenance needs. He has extensive renovation experience which is his "side-job" from his main firefighter career (he works 24 hours on - 48 hours off with firefighting). I also plan to use him as my go-to "turn" contractor when a unit becomes vacant and needs fresh paint, updated flooring, etc.
My question is, what is a fair compensation rate for this service? Should I pay him a trip charge and hourly or just take it as a case by case basis? I want to take care of him so he feels it is time well-spent, but also want to make sure I am not over paying based on market trends. I am also planning to test this as my portfolio grows so I can be as efficient as possible. Your input on this matter is appreciated!
-Tyler
