Property taxes, insurance, maintenance, labor, and building materials continue to put pressure on rental property profits.
But at Key Realty & Property Management, we don't just accept higher prices. We look for better ways to do business, negotiate better deals, and keep our clients' expenses under control.
After more than 26 years in real estate and working with over 1,200 properties, we've developed systems and relationships that help us save our clients money.
Here's how we do it.
1. We Make Vendors Compete for Our Business
We're constantly comparing prices and looking for better deals on materials.
A great example is our electrical work. We found a more cost-effective way to install electrical boxes, saving our clients approximately $1,000 on certain projects.
That's real money going back into our clients' pockets!
2. Our Sherwin-Williams Paint Agreement Saves Money
We have a large-volume purchasing agreement with Sherwin-Williams that provides us with excellent pricing.
We also use three different grades of paint depending on the property's needs.
Initial renovations: We use higher-quality paint for durability and a great finish.
Tenant turnovers: We select more economical paint when appropriate.
Touch-ups and maintenance: We use the most cost-effective product suitable for the job.
Why pay for premium paint on every turnover when a less expensive product can do the job?
The goal is quality work without unnecessary expenses.
3. We Control Labor and Material Costs
Our established labor relationships help us maintain consistent labor pricing.
That means we can concentrate on controlling material costs by negotiating with suppliers, comparing products, and purchasing smarter.
We've also negotiated competitive pricing on heating equipment, plumbing materials, painting supplies, and other renovation necessities.
4. Two Recent Rental Turnovers—Only $3,000 in Combined Repairs!
Here's a great example.
I recently inspected two rental properties that had just become vacant.
Total estimated repairs for BOTH properties: Approximately $3,000—including labor and materials.
Our goal is to complete the repairs within one week and get both properties back on the rental market.
Think about that!
We're controlling repair costs while minimizing the time these properties sit vacant.
Every day a property sits empty is another day the owner isn't collecting rent.
5. Our Experience Creates Purchasing Power
After working with more than 1,200 properties, we've built excellent relationships with vendors, suppliers, and contractors.
We know where to purchase materials, who offers competitive pricing, and how to get work completed efficiently.
Our in-house contractors handle much of the work, allowing us to maintain better control over costs, quality, and scheduling.
6. Net Income Is What Really Matters!
I say this all the time:
It's not how much rent you collect. It's how much money you keep!
A property collecting $1,800 per month doesn't mean much if you're constantly spending unnecessary money on repairs, maintenance, and vacancies.
Successful property management requires controlling expenses just as much as maximizing rental income.
Rising Prices? We Adjust!
Yes, repair costs have increased.
But that doesn't mean property owners should simply accept every price increase.
We negotiate. We compare. We improve our systems. We find better deals.
Our job is to protect our clients' investments, maximize their net income, and keep their properties producing rent.
That's what professional property management should be doing!
Brett Young | Realtor & Property Manager
Key Realty LTD | Key Realty & Property Management
26+ Years of Experience | 1,200+ Properties
Call: 216-703-5740
Website: https://www.clevelandincomerealestate.com
YouTube: https://www.youtube.com/@BrettYoungCashflowhomes
Real Estate Results & Statistics: https://realincomeproperties.blogspot.com
Buy • Rehab • Rent • Manage • Sell
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Thank you