The Importance of Service in Property Management

Service is the name of the game, right? So when a tenant or customer calls, asking for some things to be done around your or their rental house, what happens? As landlords and property owners, it is natural to say those things aren’t necessary or somehow find a way to put them off. (Because we know the immediate costs of the work.)

Studies show that losing a good tenant, refurbishing your rental, and then re-renting can cost around 2.5 month’s rent on average. And this is with a well-maintained property. Turnover “churn” costs $$$.

The Costs of Vacancy

What is the cost of having a vacant house up for sale? For starters, property taxes, insurance, debt service, utilities, lawn maintenance, and “other” maintenance. Manage this thought by reducing your number to a daily or monthly number. And as you go through the selling process, keep in mind that every day this house is on the market, this is what it is costing you. This helps all of us make better decisions when deciding on what to do with an offer or with your asking price (when to lower or not).

Take care of your investment and your cash flow. (Lessons from the dark side—boo!)

We help our clients Buy – Rent and Sell real estate. Thank you for your business!