The restoration checklist for cleaning an apartment that has been heavily smoked in is long and expensive.
Clean or replace if needed, floors, baseboards and trim, walls, ceiling, door chime, shelving, light fixtures, outlets and switches, closet organizers and rods.
To turn the unit, it costs at least 3-4 times more if the person in the unit was a heavy smoker.
In all, a two-bedroom apartment unit inhabited by a heavy smoker could cost in the range of $8,000 -$15,000 per unit.
The expenses come from heavy cleaning or replacements necessary to return the unit to revenue viability.
It’s no secret that some of the largest operating expenses of a property result from residents moving in and out. Lost rent in addition to advertising and leasing expenses, plus maintenance between tenancies, add up.
Finding the balance between an occupied unit that produces top-line revenue and one that is consumed by turnover costs is a task that property owners today must face.