Page 1-2: Explanation of Potential Rent-Ready Expenses
Below is a table of our most commonly issued rent-ready fixes to owners by category. Please note that most properties are evaluated to identify potential issues that need to be addressed before we can place a tenant in the property. We aim to maximize the rent achieved and prevent future negative issues and maintenance tickets. This table is meant to explain the common repairs and the potential costs involved.
This is only an estimate, as labor and supply costs can vary greatly depending on many factors, including location, vendor availability, and condition. We will provide a custom analysis based on inspection when your property undergoes the rent-ready process.
Please note that the rent-ready process does not evaluate whether a property complies with applicable building codes or statutes. We also don’t indemnify or guarantee the work of our vendors but always make reasonable business efforts to address known issues.
We typically aim to repair where possible, but if we have to replace the item, it will be more expensive than the ranges below. Please remember that even simple tasks will include a labor component, and sometimes items can be more expensive due to sending a person to the property to complete the task.
The most standard and common fixes are the ones in the Throughout Property category above, including deep cleaning (view standards here), painting, and trash removal. We require the property to be 100% vacant and free of all personal belongings and furniture.
Doorstead will project manage the Rent-Ready process. Please plan on a two-week to one-month rent-ready repair timeline to complete all the work unless there are issues with securing vendors or supplies.
Additional Rent-Ready Pricing Information + Statistics:
- Our average rent-ready costs are usually around $1400.
- Our average vendor cost varies by market but typically falls under $1000-$2500.
- Owner turnover costs average about $500.
Page 3: Doorstead vendor recommendations
Doorstead uses our network's internal service team of independent service providers to streamline your rent-ready process. Please note that while you can do some of the work yourself, Doorstead still requires proof that the work has been done and will do quality assurance (QA). If you use your service provider, you must send us a copy of the invoice for our records (to ensure that a tenant does not identify the issue later).
The cost of labor varies by market, specialization, and experience. On average, you can estimate the following hourly rates:
$125-$195 Labor rate per hour- General/Skilled Contractor
$95-$120 Labor rate per hour - Handyman
Estimates can be higher because Doorstead works with vetted vendors with licensing and insurance that are properly registered to do business where they operate, required by law. We believe that the relationships we build with our vendors lead to better outcomes, at competitive rates, with faster response times.
Please refer to our Owner DIY and Vendor Work Guide for more details.