4 Easy Ways To Lower Turn Costs
Start Marketing Early And Always Keep A Wait List
As soon as you know a tenant is vacating, begin marketing the unit for rent, reach out to you wait list, and offer a referral bonus to current residents. Â These actions should reduce the amount of time the unit is vacant.
Early Complimentary Inspections
Allows you to assess the unit’s condition and begin ordering materials and scheduling vendors for items you plan to repair. You may also want to ask for permission to make certain repairs prior to the tenant leaving to accelerate the turn time.
Document Unit Condition At Move In And Outline Certain Predictable Repair Costs In The Lease
Provide documentation to tenants prior to vacating. This will give the tenants a chance to make and/or pay for repairs on their own. By adding certain repair costs to the lease, the tenant will know how much they will get dinged if they do not take care of the issues prior to leaving.
Partner With A Cleaning Company And Negotiate Reduced Rates For Your Tenants
This will result in cost savings to tenants who hire housekeeping services, fewer maintenance requests from those tenants and fewer turnover repairs and replacements of appliances, flooring, fixtures, and finishes. As the apartments will be getting cleaned regularly (paid for by your tenants).