 apartment manager/handyma (by kkezir [KS]) Oct 16, 2009 8:55 PM
 apartment manager/handyma (by Virden [OH]) Oct 16, 2009 9:19 PM
apartment manager/handyma (by BRAD_IN 20,000 lease months [IN]) Oct 16, 2009 9:44 PM
apartment manager/handyma (by Theresa [TX]) Oct 16, 2009 11:50 PM
apartment manager/handyma (by John [OR]) Oct 17, 2009 3:12 AM
apartment manager/handyma (by Martin [MO]) Oct 17, 2009 6:16 AM
apartment manager/handyma (by Robert,Ontario,Canada [ON]) Oct 17, 2009 6:40 AM
apartment manager/handyma (by billy [MA]) Oct 17, 2009 6:47 AM
apartment manager/handyma (by San [CA]) Oct 23, 2009 7:58 AM
apartment manager/handyma (by kkezir [KS]) Posted on: Oct 16, 2009 8:55 PM
Message:
We are looking at a 36 unit aparment complex. At what point due you consider having an on-site manager or on-site handyman. How many units does a complex need to be to justify these costs?
Thanks --68.103.xxx.xx |
apartment manager/handyma (by Virden [OH]) Posted on: Oct 16, 2009 9:19 PM
Message:
When you can not keep your head above the repair requests, hire someone to answer the phone and call you on business 2way while you fix windows, dishwasher leaks and appliances not working - what is your time worth? --76.241.xxx.xxx |
apartment manager/handyma (by BRAD_IN 20,000 lease months [IN]) Posted on: Oct 16, 2009 9:44 PM
Message:
My answer: now.
You are worth more than the $10/hour that pay to have it done.
As owner, your time is best spent finding and keeping good tenants.
My income mushroomed when I took the tools out of the van and focused on my business, rather than drippy faucets.
The pen is mightier than the hammer.
You will spend some of your time managing that handyman.
--69.243.xxx.xx |
apartment manager/handyma (by Theresa [TX]) Posted on: Oct 16, 2009 11:50 PM
Message:
Depends on how much you are capable and willing to do. The more you can do yourself the bigger your profit will be. What you don’t know, learn. It helps if you have a spouse, someone working towards the same goal as you.
When we bought ours (41 units), we kept the manager for about 10 days, long enough to get the feel of the property, meet all of the tenants, and to go through every piece of paper in the office.
A friend of ours had 58 units, he and his wife did it themselves and only hired out when they needed help.
When we were cleaning house we hired a maintenance person for part-time work. That worked out well for us and we kept her until we sold the property. Our maintenance lived on property and paid full rent, she had her day job and worked for us afternoons/evenings and her days off.
Basically we paid someone to do the things we did not want to do. Mainly, make readies, clogged commodes, dripping faucets, lost keys, etc., things my DH was able to pass off to maintenance. My time was devoted to renting and retaining tenants, the last eight years or so I went to the office 4 hours a day, 4 days a week. And that was only to show the tenants we were still there.
You just need to figure out how much you want to keep for yourself, how much you can do yourself, and know when you need help.
Good Luck
--64.148.xxx.xxx |
apartment manager/handyma (by John [OR]) Posted on: Oct 17, 2009 3:12 AM
Message:
Some states regulate this- California i think for one.
For me, the economics of a multifamily allowed for an on-site person at about 16 units. The person got a cut on rents. Above 24 units, the on-site person could get free rent.
Much above 45 units, there is need for a full time person and a maintenance person Above 60 units you need 3.
There are economies of scale and there is the issue of how much work you want or can do. But the more units you have, the more stuff you need. I have 3 people plus myself for 160 units today. --24.21.xxx.xxx |
apartment manager/handyma (by Martin [MO]) Posted on: Oct 17, 2009 6:16 AM
Message:
This also depends on the age of the property as well as turnover and the effectiveness of previous management. You might not need someone dedicated to the property. It's the perfect size to use a PM firm. --70.243.xxx.xx |
apartment manager/handyma (by Robert,Ontario,Canada [ON]) Posted on: Oct 17, 2009 6:40 AM
Message:
Changing out the washer faucets to washerless type of faucets eliminates a lot of the maintenance issues. Installing electronic boiler controls so the heating will automatically go on and off depending on the outside temperature. The only other issue is having someone show vacant units. The other work such as painting can be contracted out. A lot depends what one does during the day. If one is managing rentals full time then one can manage the rentals a lot better. --74.220.xxx.xxx |
apartment manager/handyma (by billy [MA]) Posted on: Oct 17, 2009 6:47 AM
Message:
with 36 i think u should have an on site mgr. --208.58.x.xx |
apartment manager/handyma (by San [CA]) Posted on: Oct 23, 2009 7:58 AM
Message:
John from OR, just curious, when you say 60+units you should have 3 on staff. Would it be: on-site manager, maintenance person & landscaper? --70.134.xx.xxx |
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