Forums » Running A Property Management Company

Whats your hourly rate?

    • 5 posts
    August 29, 2016 11:12 PM PDT

    Hi all-

    New to the game and I need to set an hourly rate for my 'handyman' or other 'me-only' (i.e. not contracted out) work.   

    I am tempted to ask $40/hr, but that feels pretty steep.   I am not dealing with tenants, just taking care of a 2nd home (though I don't know if thats really relevant...its my time, regardless of how its being spent).

    So, for "hourly work" (i.e. replacing an air filter, changing the locks, other easy handyman stuff), how much do you charge?

    • 9 posts
    September 21, 2016 4:01 PM PDT

    Hi Ryan,  

    The category may have led me astray... apologies if so.  

    However, at our property management company  we employ  contractors to complete such work as it creates clear boundaries of duties and prevents any conflicts of interest or any thought that we may be vested in having such and such contractor complete the work.   

    There are minor things and the odd bit of cleaning, etc that we still do of course to get the job done and move forward.  

    If you're managing properties for owners then I would suggest thinking carefully about what you want to do.  

    It may be easier to do odd jobs like this as a one man band compared to a company with multiple staff.  

    I often turn up at my own rental properties and wish I had other tools or fittings from home with me. I end up doing another trip most of the time. Sometimes there is a complication.  

    A full-time handyman prepares for this and carries appropriate gear, has familiarity with more, etc.  

    On an hourly rate basis, the full-time handyman will almost always be cheaper to the client.  

    • 5 posts
    September 21, 2016 9:14 PM PDT

    Hi Rentex rep-

    Thanks for that--those are valuable considerations.   The issue of "making work for oneself" is something I hadn't really thought of before.

    And yes, efficiency is worth considering as well!   

    Thanks-

    Ryan