Vacancy time in between tenants is inevitable. There will always be some lag time for a landlord or property management company to prepare residential properties for the next tent. However, since there will be no rent collection during this downtime, reducing the turnaround time makes good financial sense.
Different properties require specific processes depending on their location and condition. The best property management Indio, California offers recommends a standard make-ready process to shorten vacancy cycles and get back to regular monthly rent collection. So how can real estate investors reduce turnarounds times? Here's what you need to know!
What Does a Turnaround Process for an Indio, CA Property Include?
The rental-ready process for residential properties will differ in some cases depending on the length of time the previous tenant was in the rental property or the types of wear and tear that happened during the lease term. However, most successful property owners find that it helps reduce vacancy times to have a standard process when preparing a rental for a new resident.
Full-service property management experts recommend a few standard steps to have in place:
- First, contact the tenant 60 days before the lease expires to ask for a renewal.
- Have a cleaning checklist for tenants before moving out.
- Offer a walk-through to show them any issues that a tenant can handle (to get back more of their security deposit) before they move out.
- Ask the tenant to show you any items that might need repair or replacement.
- Before the move-out date, schedule contractors and other vendors to do the make-ready work once the tenant moves out.
- Make sure repair and renovation work is done as soon and as thoroughly as possible.
- Re-key locks for the next tenant's safety and to reduce your liability.
When this process is quick and efficient, a new tenant moves in soon after your previous renter moves out, and rent collection resumes with as little downtime as possible.
What Happens if You don't Have a System in Place?
Property managers will tell you that if you don't have a system in place, it leads to lengthy downtimes, unnecessary confusion, and more lost rental income. Any delay in getting the property ready costs you money and could give the next tenant a terrible first impression of what's in store for them in their new home.
What are some of the issues property owners incur when not having a system in place? Problems like these are more than a nuisance when they affect your bottom line:
- Random and unorganized cleanup and repairs. Without a proper system in place, scheduling maintenance personnel and cleaning crews will be a logistical nightmare.
- Unclear make-ready tasks could cause safety issues. The team hired to clean or repair items might ignore details and leave items undone or done improperly. This can lead to unsafe conditions in the rental home. Items like broken window locks or a damaged railing could put a future tenant at risk, leaving the landlord liable.
- Things get overlooked. Small things like a broken switch or a fan that doesn't work get overlooked because there isn't a standardized process in place. When tenants move in and discover problems that should have been resolved during the turnaround process, owners have unhappy residents.
A standard make-ready process helps minimize these issues to keep residents safe and happy from the day they move in!
A Standard Make-Ready Process is Key
The extra effort to put together a standard make-ready process can save time and money. Make sure to include these items:
- A list of things to check. Don't forget things like the AC unit to make sure it's working correctly. Check the floor and the roof to make sure tiles and shingles aren't damaged and need to be replaced.
- A list of things to clean. A landlord can hand off a cleaning list to professionals to ensure everything is spotless for the next renter.
- A repair list. Ensure all vendors are scheduled and ready to handle all maintenance and repairs as the tenants vacate the residential property.
Trust Indio, CA property managers when we say a standard checklist minimizes mistakes and streamlines the process for property owners!
Hire a Property Manager to Complete the Process for You
Getting a rental property ready between tenants can be a tedious and time-consuming process without the right help. If you (like many property owners) are short on time, it might be time to partner with one of the best local rental management companies to make sure your rental unit is ready for the next tenant.
The best Indio property management companies process the turnaround time efficiently and effectively because they do this routinely for Indio-area investors!
Our Indio Property Management Experts Are Here to Help
Now that you understand the importance of minimizing the turnaround time between tenants make sure you have the right strategy in place. McLean Company specializes in Indio, California property management with strategies to reduce stress and make more money for real estate investors! Reach out to learn more about how our residential property management services reduce turnaround times for property owners.
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