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Property Rehab & Renovations
As a property owner faced with the prospect of a renovation project, you may think that the only option is to hire a contractor (or several contractors). Of course if you go this route, you’ll need to collect bids, check references, evaluate change orders, manage the process, and make sure that your vacant property is leased as soon as the work is done. At FP Management, we think there’s a better way.
As part of our normal property management operations and responsibilities, we manage about a half a million dollars in apartment renovations and improvements each year. We do everything on a COST PLUS basis using the following rates:
Basic Maintenance and Painting: $20/hour HVAC, Major Electrical & Plumbing: $30/hour Project Management Fee: 10% of total cost Materials Markup: 10%
Where subcontractors are necessary (roofing, concrete work, foundation repairs, etc.), we will manage the bidding process and construction management for our standard Project Management fee, as identified above.
With this approach, you get only what you pay for!
And your leasing agent or property manager is in direct daily contact with the construction project manager, ensuring that the property or unit is rented as soon possible after work is completed. You can not get this level of cooperation between a contractor and your property manager, no mater how hard you try.
We understand that our clients are not earning a return on their investment while their properties are vacant. That’s why we strive to complete all renovation projects as quickly as possible and minimize vacancy and turnover during construction projects. |
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800.946.1412, contact@FPMkc.com 4018 Harvard Lane, Kansas City, Missouri 64133 |
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