Question for my apartment industry peeps mainly Property Managers...
How much would you and/ or do you pay for a complete make ready turn from the trash out to the finish out including paint through a Turnkey (Make ready Service)?
Would you say $900 is a fair price or too high or too low? Please share your thoughts and expertise (lol)
Speaking as a contractor for a construction company, $900 is just a start out price. Depending how little or how much damage was done the price may vary. Before you dole out the money YOU may want to do a walk through with your make ready people and THEN set the price for the work to be done.
Every property is different, as is every apartment size. My most frequent discussion is why it takes longer to turn a 3x2 w/washer and dryer than it does to turn a basic studio apartment.
Each unit is different, consider repairs, how much paint, prime, ceilings, texture, parts upgrades, etc, etc. Too many intangibles to be able to say whats a fair price.
To be more helpful than saying it varies, which it does- you have to have more info.
You have paint, flooring, resurfacing/replacement, fixtures, appliances, preventative Maintence, general repairs. That all factor into the price.
Figure out what you want, then go from there. Where I work we have a price range of each thing that needs to be done. And we base vendors and such off of that range.
Although. I do my personal best to have vendors walk through a unit with me and give me a price. And I add a cushion for any extra work that need to be done.
For example basic paint may be 1000 for the unit, but I do 1100 to include drywall repairs or baseboard issues.
I’ve paid anywhere between $900 and $3,000 depending on the state of the unit when it’s turned over. We normally average it to $30/hr plus dump runs and supplies.
Depends on the size of apartment and it’s condition. But I would say $900 is fair if that includes trash out, paint, and repairs. I’m in Raleigh, NC and we went without any maintenance staff for 3 years so we had to rely on local contractors. The average cost for a 1 bedroom was $1000. $1500 average for a 2 bedroom. Even though they were familiar with the process and our properties, I still had to create detailed work orders for every turn. So during the move out inspection, I had to test appliances, HVAC, and plumbing throughout to identify issues. Helped me become even more detailed with my inspections though! I also created spreadsheets with blind sizes, paint colors, preferred brands for light fixtures, etc which helped immensely when we finally hired a maintenance guy
It depends on the property demographic of the area and condition of the unit, my old company avg. 4-6k per turn and I overseen 16 properties, that's everything needed. Now that I'm in a different demographic's and the median is lower, $900 isn't too bad but it's still on the lower end. It all depends on what class your property is and who your trying to attract ( a "C" class style resident or a "A" class style resident)