The owner's rep and I are working on 2013 budget. We have to wait until late in the year due to so many repairs we have to make right up until December.
Last week, we repaired 3 busted water pipes and we have one more that will require a professional because it is under a sidewalk.
The property is a small group of 48 townhouses that are 30 years old. It has been neglected for years. I've spent most of the last 3 years doing needed repairs and deferred maintenance, mostly plumbing).
The owner's have had it 4.5 years and have lost a money on it. It is a "money pit."
I've been trying really hard to make them a profit, but next year isn't looking very good, again.
We have several capitol expenses that we need to do. Gutter downspout extensions, railroad tie retaining wall deteriorating, old HVAC units.
We have been able to increase rents since last June due to an excellent market.
I need advice on how to handle the owner's remarks when it comes to maintenance staff. They REALLY don't want a permanent,regular hours person for this property. They want someone to work "as needed" and not pay them what they are worth per hour.
I've had trouble keeping maintenance staff. I've had some really bad ones, too.
