Make the result useful
How to compare contractor bids when turnaround time costs rent
The lowest contractor bid is not always the lowest ownership cost. This calculator adds a stated rent-loss assumption to each quote so you can compare the cash price and the time a unit may remain unavailable on one worksheet.
Only compare bids with the same written scope. A quote that excludes haul-away, permits, materials, or final cleaning can look cheaper while moving those costs into a later decision. Treat the result as a question to investigate, not an instruction to select a vendor.
The assumptions that move this result
Bid A and Bid B
Quoted totals for comparable written scopes, including any known material allowance.
Unavailable days
Days the unit or affected area cannot reasonably be marketed, occupied, or used.
Monthly rent
Conservative achievable rent used only to estimate the cost of downtime.
Scope notes
A separate comparison of permits, warranty, cleanup, and exclusions; these are not priced by the formula.
modeled combined cost = contractor bid + (unavailable days x monthly rent x 12 / 365)
The output shows a modeled cash-and-downtime comparison, not a recommendation about workmanship or vendor suitability.
Read the number in context
Same-scope example
A $1,500 repair taking 9 unavailable days is compared with a $1,800 repair taking 5 days. At $2,190 monthly rent, four avoided days are worth about $288 of modeled rent, so price alone does not settle the choice.
Scope mismatch
A lower quote excludes painting and debris removal while the higher quote includes both. Do not use the arithmetic until those items are either added to the lower quote or explicitly removed from the other scope.
Occupied-unit edge case
If the work can be completed while the resident remains in place, set unavailable days thoughtfully; assumed vacancy loss may be zero even though access coordination still has a cost.
The calculator cannot inspect work quality, confirm licensing or insurance, price change orders, or determine whether a permit or notice is required.
Before you act
• Get a written, line-item scope from each vendor.
• Confirm start date, completion definition, warranty, and payment milestones.
• Document why the selected bid was chosen before authorizing work.
Direct answer
To compare contractor bids, add each quoted cost to the modeled rent lost during its expected unavailable days, then verify that both scopes, warranties, and exclusions match.
Should I always select the lower combined cost?
No. First confirm identical scope, credentials, availability, quality expectations, and warranty. The calculation only makes the time-cost tradeoff visible.
What rent should I use for downtime?
Use a conservative, currently achievable monthly rent for the unit, not an aspirational listing price.
Do I include a security deposit claim?
Keep resident charges, damage documentation, and any permitted deposit process separate from the vendor-selection comparison.