Ahhh….Labor Day. Backyard BBQ’s, final swim parties, and the “unofficial” End of Summer. We sincerely hope you were able to kick back yesterday and enjoy it with your family and friends. Now it’s back to focusing on your Financial Freedom. Here’s a link to a short article from Forbes magazine. As the US economy continues to run along as fast as a cheetah, labor shortages in construction fields have created higher paying career paths. Since it’s back to school for many of you with high school students and college students, we thought you (or your soon to be employed young adults) might want to learn about these opportunities.
Finally, a few Take-Away’s for everyone’s attention, but especially for homeowners and landlords:
With shortages come shifts in supply and demand. Unfortunately, this causes increases in skilled labor such as carpet installers, painters, carpenters, HVAC technicians, plumbers, electricians, etc. If the wages in these jobs go up, then hiring them for your property management could mean significantly more cost than you might fondly recall from years past.
Unfortunately, you can probably expect the time it takes to get your property management work scheduled and completed to be longer than normal. Vendors are already booked out weeks or even months in advance! Fortunately, our company has always believed in the theory of “Digging your well before you’re thirsty”. Since 2014, we’ve partnered with multiple best-in-class vendors to ensure landlord and tenant satisfaction.