Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
I just went through my first major tenant turnover on a 2000 sf house. It wasn't that bad, just cleaning and minor stuff and finding a new tenant. It took us 15 days total, and I documented the entire process here on my new blog.
I was wondering what other people see for turnover time between tenants. Turnover is a huge expense, and I want to know your tips and tricks and best practices for making it a quick, streamline process. Thanks!
Right now its taking longer than anticipated. I inherited 14 units earlier this year from my father passing and I am rehabbing each unit as a tenant moves out which has been a challenge. That includes painting, all new flooring and appliances if needed. Raising the rent in each unit as well. Once the redos are complete, the turn around time will be much shorter.
When I first acquired the properties, I had 6 evictions from the get go and I'm replacing my 4th roof. So I have been on the fast track of a new property owner. So far its been an awesome experience and I think I have found my second career. I'm a slumlord turning landlord. As you can see I was challenged with some deferred maintenance.
Fortunately I have a property management company with an awesome property manager that has been handling the screening and so far we seem to be getting very good tenants. Time will tell.
1. Yes, I've never done a pre-inspection before, but this is a fabulous idea!
2. I love the idea of better prepping the tenant for move out, so they know what to take care of before leaving.
3. Yes. I think we did exterior work just to spruce up the curb appeal, while the real interior cleaning part waited (very part time cleaner we have). Interior first is the way to go.
4. Yes, $800 out of rent, plus all of our expenses for material and lots of labor. Of course we calculate vacancy as a part of an operating cost, but I'd rather keep the $800 than lose it.
Though we got permission to enter early, we didn't get permission to start cleaning and moving out their remainder furniture, I guess we could have clarified that point. I love all this help because I want to get our systems and process in place. I'm a project manager for my day job, so I want to translate my project scheduling into a seamless turnover process too. Thanks for the tips! And yes, rekey is the first step!
Just a quick thought....one way to allow for ease in showing prior to current tenant vacate and better chance of upkeep may be to offer an incentive to the current tenant for keeping the property show ready for 3 weeks prior to their departure. In theory, this would allow for a more immediate filling of the vacancy which would pay for the incentive and potentially lead to less damage to the unit overall.