Happy Saturday, Housing Heroes,

This past Tuesday, we hosted our very first Client Connect webinar! We connected with clients from a portfolio led by Kevin (who’s now being promoted to Regional Manager), and introduced Gioel Enriquez as the new Property Manager for the portfolio.

We also shared updates to the leasing department, with more improvements on the way.

What made this session special? It addressed the #1 frustration we hear: “I don’t even know who’s managing my property.” That’s a gap we’re closing - starting now.

The Q&A was especially energizing, with one topic coming up again and again: maintenance and vendors.

So, Let’s Talk Vendor Management

Let’s be real for a second:

But figuring out what’s “too much” isn’t always black and white, especially with rising costs and evolving expectations.

One framework that helps us all make sense of it is the classic Value Triangle: Price, Quality, Speed. You only get two.

The Value Triangle

When it comes to maintenance and repairs, there’s one principle that never stops being relevant.

• Want it fast and high quality? It won’t be cheap.
• Want it cheap and fast? Expect to sacrifice quality.
• Want it cheap and high quality? You’ll probably have to wait.

This isn’t just a clever saying - it’s a reality we wrestle with every day when choosing vendors, approving repairs, and managing expectations. Especially in a high-cost, high-regulation environment like San Diego, Orange County and Riverside, navigating this triangle thoughtfully is what keeps your property running smoothly and your expenses in check.

That’s why we:

• Vet vendors relentlessly
• Push for fair pricing
• Communicate trade-offs as clearly as possible

Plumbing: Always a Hot Topic

And when it comes to the Value Triangle, plumbing is the ultimate stress test. It’s urgent, technical, and rarely inexpensive.

We’ve seen this across the board in property management - plumbing costs have always been a pain point. But now, with rising labor rates and material costs, the pressure’s even higher.

Here’s what we’ve been doing:

• Tightened our review process for every plumbing bid
• Clarified value when price alone doesn’t tell the full story

Plumbing Costs

Labor:​
California's labor market is shifting fast.

• Fast food workers: now $20/hr minimum
• Apprentice plumber: ~$22/hr
• Journeyman: $28–$35/hr
  Now add insurance, licensing, and workers’ comp… it adds up.

Materials:

• Copper pipe: was $1/ft → now $5/ft
• Steel prices: up 83% since 2020
• Water heaters: prices have doubled since 2018

“But Home Depot Has It for $X…”

We hear this a lot - and it’s a fair question.

Here’s what’s usually going on:

• Pro-grade parts: Supply houses stock longer-lasting, better-built items.
• Availability: Our vendors get parts same-day. Big box stores? You wait.
• Emergency response: Vendors work nights and weekends. Home Depot doesn’t.

Handyman vs. Licensed Pro

We love a good DIY moment. But when it comes to plumbing and major systems, cutting corners can cost more in the long run.

Licensed plumbers are:
✅ Trained
✅ Insured
✅ Accountable

Handymen? Often none of the above - and in California, unlicensed work can put housing providers at risk of non-compliance.

Other Price Pressures in 2025

• Regulations: New emissions rules are raising appliance costs.
• Insurance Crisis: Fewer carriers = higher premiums for all.
• Fuel: Gas is up 29% since 2021, and that impacts every service call.

What We’re Doing About It

We get it. Repairs are getting more expensive. That’s why we’re actively working on:

• Vetting vendors frequently
• Cutting ties with overpriced contractors
• Streamlining approvals
• Communicating trade-offs more clearly

Have a question about this topic? Just hit reply. Your questions help us improve and create better tools for everyone.

More helpful goodies below 👇

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Steve Welty CEO @ Good Life Property Management DRE #01744610 ​​​​

5252 Balboa Ave #704, San Diego, California 92117
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