Getting a property ready to rent for the first time or turning over a unit between tenants should be done with speed and efficiency. The faster you do it, the more rental income you can earn and the lower your overall vacancy rate will be.
The more experience you get turning over a rental unit, the easier it will get, but rather than wait to accumulate your own experience, you can learn from ours. Here are some time-tested strategies to speed up your turnover timeline and get your property ready to rent pronto.
Follow a Ready-to-Rent Checklist
As you prepare your property for rent, knowing what to prioritize during a rental turnover is step one for success. Step two is creating a repeatable workflow you can follow each time you need to get a property ready to rent. Not only will this make you more efficient, but it will also ensure you don’t miss anything.
Here are some essentials to include on your turnover checklist:
- Do a deep clean – Whether this is the first time you’re renting out the unit or you are between tenants, it’s essential to do a deep clean of the property. By setting a standard of cleanliness, you’re also demonstrating the condition you expect future residents to maintain.
- Tackle repairs and upgrades – This might include adding fresh paint, installing new carpet, upgrading appliances (or at a minimum conducting maintenance checks on existing appliances), fixing leaks and ensuring that all systems are running safely and efficiently.
- Make aesthetic improvements – Other simple and inexpensive upgrades can also improve the overall unit’s appeal. Things like improving lighting and focusing on finishes can be a cost-effective way to improve the unit.
Create a Go-To Vendor Phone List
Many property management companies will have in-house maintenance staff to handle the majority of turnover repairs and upgrades, but for investors who self-manage their units or for specialty repairs, it’s helpful to have a network of vendors to call upon.
Vet quality vendors in the Columbus area now and get to know their pricing structure and availability. Then, when it’s time to turn over a unit, you’ll know just who to call.
Think Ahead to Leasing
As you finish up unit repairs and updates, the next step is to get the unit leased. Our leasing department at RL Property Management engages a photographer to take new photos of the unit and then lists it for rent. During this phase, the team schedules showings with residents, leads tours of the unit and manages the tenant screening and application process.
By doing a thorough job when you prepare your rental unit, you should be able to command higher rent rates and secure a high-quality tenant who will stay in your unit for years to come.
Contact Us for Help
At RL Property Management, our team manages around 600 units, so we’re dealing with up to 30 turnovers at a time. To successfully manage properties at scale without compromising on service to our clients, we lean heavily on our checklists and processes to ensure that we can deliver a high-quality living experience for the resident and a high-quality return on investment for the property owner.
If you have questions about property management here in Franklin County, Ohio, or what we can do for you, get in touch with our team today.
