Tenants leaving unit

15 Replies

Tenants leaving, this is going to be our first time in our multi family we will have to fill the void. We are very nervous about the process, and nervous we miss the boat, and become behind. Any advice? Or just experiences along the way I can learn from, to better prepare myself?

Do not take anyone. Focus on tenant rental history pick someone you think it will work out. Relaxation on animal rules. You probably need to do some cosmetic improvements and need time. Good luck.

Sam Shueh

Advertise on FB market place (the best) Zillow, Craigslist. Take applications and have minimum criteria and don't settle for someone flashing cash and pleading to take them. Yes I have personal experience with this. The more needy they are the faster you should run away from them.

@Matthew Roberts

In addition to Zillow, Craigslist & Facebook, I also list the unit with Cozy & Zumper for additional traffic (all free).

One other tip I used with my last vacancy, create a video walk through showing the exterior and interior and post it on YouTube, I sent it to all the leads asking to view the unit & it helped cut down on the number of tire kickers I got who wanted to walk through the place.

As far as assessment, rental history is important, make sure to check with the references provided, I also use Cozy to help with the credit/background check once someone’s preapproved. If your looking to move fast, make sure your not one of the more expensive units on the market, Sometimes offering at the middle of the market will make the unit seem more like a deal to perspective tenants.

Hey Matthew,

If the tenant is giving a notice to you in advanced, try to minimize the vacancy time. Usually landlords will have a 2 month minimum notice of non-lease renewal, if this is the case, you can attempt to advertise the unit, accept applications, screen the tenant, and get a lease signed for the tenant to move in a few days after the old tenant moves out.

During that 2 month period you can try to get into the property to see what repairs and cleaning will have to be done. After you know what is required to get the unit ready for the next tenant. Schedule all the cleaning and repairs to take place within that short couple of days time period.

I've heard of landlords having the tenant move out by 10am on a Monday, have the repairs and cleaning scheduled for that afternoon/evening/night (if the repairs aren't substantial) and have the next tenant move in at 2pm that following Tuesday. It takes a lot of coordination, but saves you a ton on vacancy costs.

- Lucas Duce

@Lucas Duce lots of good info here. Unfortunately they have given a months notice. They had been here for 8 years, and agreed on no lease for time being. We’ve been working with each other (they were looking for a house) and had agreements in place to make it so neither of us get screwed. A little short notice, yes. Inconvenient, as we are leaving the country this month. But first time we have to find a new tenant, and very nervous. Is August a good time of year for this?

Really advertising on multi-media is useful. I know a lot of people looking for properties through internet. You can even post your properties on facebook or even instagram. It won’t cost you too much time and energy. Or you can try Tellus. It can help you post advertisements on some websites.

Matthew, don't feel nervous. Just be thorough with your background check and tenant screening! There are different ways to do this to ease the stress and to ensure that you get qualified tenants for your property. Like Grant said above, there are websites and apps that let you advertise on multiple listings directly as well as do tenant screening like Tellus. 

We create a tenant profile we send to people that inquire. It lays out all the criteria such as rent amount, security deposit amount, animal policy, animal fees, animal rents, lease length, smoking policy, minimum verifiable income, minimum credit score and so forth. Many people pre-screen themselves and it really reduces the amount of showings. (we require they review the profile before a showing)

We use a tenant screening service myrental and the tenants pay that fee themselves after we submit them. When you post on the internet you may get literally hundreds of inquiries. We send them all the profile and hear back from probably less than 5%.

A basic pre-screening can save you a lot of time. Even something as simple as sending a templated email with basic questions (desired move in date, any pets, list your requirements, etc.) to people who respond to your listing can help you gauge their interest. Once you have applicants, you can do the real screening (credit checks, background, rental history, etc.)

Have requirements and stick to them. Make sure you apply the same requirements across the board and respect fair housing laws.