Why a slow turnover might be costing you more than you think

Question

Hey BP fam,

Just wanted to share a lesson that completely changed how I look at turning over units.

It’s super tempting to try and save a few bucks by doing a slow, piecemeal rehab between tenants. But the math can really sneak up on you. Every week a unit sits empty, it’s not just missing rent—it’s eating up utilities and holding costs.

Here are a few tweaks that really helped speed up the process and get properties back on the market fast:

• Book ahead of time: Try to have your painters and cleaners scheduled before the old tenant even hands over the keys so work starts day one.
• Standardize your finishes: Use the exact same paint color, flooring, and hardware for every unit. It completely eliminates the time spent walking the aisles at the hardware store.
• Value speed over budget labor: Paying a reliable crew a little more to finish the job in a week usually works out better financially than hiring a budget crew that takes a month to wrap up.

Question for the group: What’s the fastest you’ve ever turned a unit, and what’s your secret for keeping things moving?

Nigel Jackson · Answer

Great post. The "book ahead" tip is the one most people sleep on. By the time the tenant hands over keys, you've already lost a week if you're just starting to make calls.

One thing I'd push back on slightly is "standardize finishes". These can be gold for SFR/small multi portfolios, but if you're in mixed price points, make sure your finish package actually matches the rent tier. An example is using the same LVP and hardware in a class C unit that would be used in a class A or B, which can lead to overspending.

Ryan Spath · Answer

Great post, we usually know +/-30 days prior to a tenant moving out. Unless we plan on some type of remodel or the property needs to be painted entirely we can have no vacancy. Here is how. Lets say the lease ends on 4/30 this month, most people will be out the weekend before by the 26th. To your point if you pre-schedule handy people, painters, and cleaners you can beat the odds. This only works where we live as I self manage the properties and our area has a 4% vacancy rate.

Mario Benavidez · Answer

Thank you all for sharing!