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8 July 2024 | 2 replies
As a hard money lender who works with many investors in the Portland area, I can share some insights on maintenance costs for multifamily properties in this market, though individual experiences may vary:Lots of investors report a slight decrease in maintenance costs during winter months, bc of:- Fewer landscaping needs - Less wear and tear on HVAC systems (as heating is generally less intensive than summer cooling)- Reduced tenant turnover in winterWinter-specific issues can arise:- Potential roof repairs due to heavy rain or occasional snow- Gutter cleaning and maintenance to prevent water damage- Heating system repairs or maintenancePortland-specific factors:- The mild climate helps reduce extreme weather-related maintenance issues. - Older housing stock in some areas may require more upkeep. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!
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9 July 2024 | 10 replies
I currently self-manage and even clean the units, since I'm young and hungry, and it's convenient.
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8 July 2024 | 35 replies
You have your basic utilities of $400, taxes and insurance of $200, and miscellaneous expenses of $600 which could include cleaning service, maintenance, booking fees, etc.
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8 July 2024 | 16 replies
Does it have a drinking water well that has clean drinkable water for human beings?
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7 July 2024 | 7 replies
Ideally, the right company will handle everything from cleaning and booking management to on-the-ground troubleshooting for guests when needed.
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8 July 2024 | 20 replies
I also try to limit JEs where I can but sometimes it's the easiest route to the same result just not as clean haha I'm wondering though if you use the bank feed to split those transactions, won't the cash balance show specific to that property?
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7 July 2024 | 4 replies
And as the buyer (my colleague) is now getting closer to closing it's starting to look like it might be worth just cleaning the place out and doing a very low cost rehab (paint, pressure wash and handyman repairs) for a quick sale.
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7 July 2024 | 11 replies
It's a super clean interface and leaves no doubt as to the status of payment.
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5 July 2024 | 0 replies
we cleaned up the exterior, painted interiors, added LVP flooring, bbq pits and picnic benches What was the outcome?