2020-06-16 VALUE OF LANDLORD'S LABOR
| By:
Jeff Taylor
VALUE OF LANDLORD'S LABOR
By Mr. Landlord Jeffery Taylor
A landlord asked the question: "What is your hourly labor value worth?" This question comes up often when landlords find themselves cleaning and or fixing up the rental after a resident vacates. One successful landlord responded: "I look at it this way: Did I get into this career to be a maid service or a real estate investor? Uh-huh. Real Estate investor! Anything that distracts me from that is going to cost someone dearly. My minimum cleaning fee is $100 for someone to show up. That gets 2 hours. Anything beyond that is billed at $50/hour, plus there's a 10% Administration fee. I have to inspect the rental unit, make notes about all their filth, take pictures, and download them to my computer. Then I upload them to the cloud for backup, type out the charges on the security deposit statement, follow up with another walk through once cleaners are done, pay the cleaner's invoice, and enter the info into my accounting system. My time is valuable. They could have cleaned but chose not to. So I get paid." Thanks S i d (MO), for sharing your insights. To see the complete discussion with several other landlords sharing how they determine landlord's labor value, click here. |
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#1 TIP TO REMOVE ANY ODOR According to one company that offers a highly recommended resource for eliminating odors, there is one tip more important than anything else when it comes to removing odors: The main reason people can't get rid of their odors is that they are not reaching the SOURCE of their odor. For example, with odor in the carpet, most people will only treat the top carpet area but not treat the padding, which will continue to smell until addressed. Whenever you have an odor problem, it is critical that you find and treat the entire SOURCE and SATURATE it. And the best product to treat and saturate the source is OdorXit, guaranteed to eliminate the odor. |
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| RESIDUAL RETIREMENT A great thought-provoking discussion took place last week on our landlord forum where many semi-retired real estate investors and landlords revealed how they are now benefiting significantly from their long-term rental/real estate portfolio that they have spent a lifetime accumulating. Go now to read the stories that offer motivation and encouragement to landlords nationwide. |
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| Keep moving forward and continue to make the most of the assets God gives you! Jeffrey TaylorFounder@MrLandlord.com |
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