How do you handle turnovers?

Question

I'm newish to investing and I have my first tenant from Salt Lake City, Utah moving out at the end of the month. Just wondering the process you go through to get a new tenant in?

How soon do I advertise?

Do you try to show the place with old renters still in there?

Is there any process I should avoid or look out for?Thanks so much in advance for your advice.

Brie Schmidt · Answer

I advertise and show the unit during the last 30 days of tenancy.  I try not to show it until around the 10th because earlier you have the people who still have options and later you have the desperate people.  I schedule 2 times blocks with my tenants, usually a Thursday from 5-7pm and a Saturday from 1-3pm and then I book all my showings during that time and / or do an open house style showing.

The tricky part is the move out / in.  My leases expires at noon on the last day of the month and I usually just hire a cleaning service to come in the afternoon then I stop by that night, paint any scuffs, and deliver the keys the next day

John Thedford · Answer

The sooner you start advertising the better. My lease states I may advertise and show the property the last 30 days. It provides I must give 24 hours advance notice. If you are on good terms with the current tenants tell them you want to start showing it and tell them you will give them 24 hours advance notice. Be sure and put these stipulations in your next lease to avoid any issues.

Michael Noto · Answer

@Quintin Mortensen The answers I would give to your questions would really depend on the type of tenant that is currently in the unit, how cooperative they are, and how clean they keep the unit.

Assuming the current tenant is clean and cooperative:

1. Advertise at the 30 day mark

2. Yes, show the unit starting at the 30 day mark if needed (this should be outlined in your lease). We try and have group showings where possible to limit inconveniencing the tenants that live there.

3. The only thing you should avoid is showing the unit if it is a mess.  Renters (or anyone for that matter) have very little ability to look past what is staring them right in the face.  It is a huge waste of your time to show a unit that has zero possibility to be rented because it is in bad shape.

Mike Palmer · Answer

Do you all change the locks every time, or only if you have suspicious feelings about  previous tenant or something?

Daniel Hedges · Answer

You can start advertising now if your lease agreement allows. This can backfire on you though if the property is not in good shape- I mean cluttered. Anyhow, you got to get a sign up in the front yard. I have found this drives a lot of traffic to your phone. Hope this helps.

John Thedford · Answer

@Quintin Mortensen

My lease is drawn up with Florida laws considered. You need to have a lease state specific to Utah. Look online for leases in Utah and you will probably find one that works. I continually amend my leases to improve them.

Quintin Mortensen · Answer

Thanks for the feedback, Could you by chance send me your lease so I can see how it's worded. I'd greatly appreciate it.

Thanks Quintin

Skyler Smith · Answer

My strategy is to start advertising it about a month before, but not show it until it's vacant if I'm in that situation. Ideally over time you'll talk to renters that aren't looking for right now, but maybe in 6-9 months. I've got a lot of them that are interested in hearing back from me if I know of something coming up, and I'll shoot future vacancies out to them. Most renters are fine with letting you show it with a couple days notice, but it doesn't always show the nicest while occupied - so there are pro's and cons.

Before showing I like to get the cleaners through it and perform all scheduled maintenance so I can get the highest quality tenant in there. Many landlords up by Utah State University have their 2016 tenants lined up already, because they know that their leases follow the school schedule and they can plan for strict move in/out dates. That's one I haven't tried myself yet. It will all greatly depend on where in SLC you are, some renters might want to see it clean and nice, some might not care.

How do you handle turnovers?

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