Even the best tenant and lease will come to an end at some point in time. Whether your tenant is relocating, moving into a larger (or smaller) unit, or buying a home, turnover is a part of investing in rentals properties. By creating a smooth process, you can reduce the time for the current tenant to vacate and a new tenant to arrive.
When you receive notification of a tenant vacating, it’s helpful to provide move-out instructions to guide them on how to prepare the home and the process to vacate. You’ll also want to set a specific date for conducting the final inspections.
1. The move-out instructions can be simple or detailed, and should include expectations for the condition the home should be returned and any information that may be important (such as requirements for carpet cleaning). Providing this shortly after notice is given will allow enough time for the tenants to prepare the home and correct items before the move-out date.
2. If there is work that you already know will need to be done, such as painting or landscape clean-up, then you can contact vendors beforehand so they can get started soon after the home is vacant.
3. If the vacating tenant has been good and is leaving on positive terms, then asking for a referral may be a smart idea. Oftentimes, friends or family of the outgoing tenant may already be familiar with the home and be interested in renting.
4. The final inspection should be as soon as possible after keys are returned to ensure the move-out condition is being documented in a timely manner, and any work that may be needed can be assessed. It’s a good idea to take photos and notes to record the condition of the entire home – not just problems areas.
After the final inspection:
1. Evaluate the property – is it time for upgrades? Making improvements beyond normal rent-ready work can make sense if it will increase the value of the home or the monthly rent.
2. Create a checklist of items you need to care for and any professionals you need to hire. If you have a maintenance crew, get the property on their schedule. Preparation will ensure professionals and your crew will be ready to work the first day the property is open. Hint: by consistently using the same professionals, you will establish business relationships, and they will be more responsive to your needs.
3. Take photos and prepare ads as soon as possible. But, of course, if you are doing extensive repairs or upgrades, photos will have to wait until the work is finished.
Planning and preparation can create a faster, smoother tenant switch, saving money lost with an empty rental.
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Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management and we’re here to help landlords navigate the rental market.
