Hello Property Owner, you are likely reading this page because you have been informed that there will be a change of tenancy with your property. This webpage is an overview of the process and steps to be performed to get the property ready for the next tenant.
This page will cover:
Your Partner
As your partner in managing your investment property, we share the same goals. If there is no tenant, neither of us receives income. Our primary objective is to prepare the property for rent, advertise it effectively, and secure a lease as soon as reasonably possible. We have established reliable and proven policies in place to achieve this objective.
For the sake of transparancy the actions that will be taken are listed below. In general you should know that 'we got this!' We will do it all and no action is needed on your part...after all that is why you hired a property manager.
Timeline
The time it takes before your rental has a new tenant will vary depending on how extensive the maintenance turn is and the market demand for your type of property, the goal is to have it marketed in no more than 21 days. Some properties turn very fast, some take longer, the average is about 2 weeks.
Once a tenant submits their 30 day notice or their is an established move out date, the process of ‘The Turn’ will begin which includes the following:
Accounting Adjustment
You want your property turned fast when a tenant moves out. This requires having the funds to pay for the work with any vendors that may be needed. You will want us to use our best vendors but our best vendors also require prompt payment. In order to have funds immediately available for repairs and rehab and to be able to get your property back on the market in the shortest time possible, your maintenance reserve will be increased by $1000 over the standard maintenance reserve. Any funds not used will be submitted to you with your next owner statement. Of course you will get a complete accounting with your owner statement.
Property Review
Your pod team will schedule the move out property review to be done within 1-3 days following the tenants scheduled last day. This can vary depending on the number of move outs at that time.
Repairs
Repairs may include painting, cleaning, carpet cleaning and routine maintenance. Some of this will be done by our in-house maintenance techs and some such as gutters, furnaces, plumbing, electrical or other specialized trades will be sent to outside vendors for completion.
Our maintenance techs can get the general maintenance needed at most properties completed within a few days but sometimes there is more work to do. Under ideal circumstances we can get our maintenance techs and contractors to the property within a week but sometimes market forces extends that timeline.
Keep an eye on your email and check the property review reports and work orders in your owner portal so you know what is going on. You are our second set of eyes, you know your property so let us know if you see something wrong. We will strive to do this work very quickly so we can get the turn done fast and get a new tenant in your property.
During this time period is when handy owners sometimes want to do work themselves. We do not encourage this, please see our owners doing their own work page. You have hired us to do a job for you, the easiest and least time consuming option for you is to let us do it.
Cleaning
Always done after any needed repairs or reconditioning. A meticulously cleaned house is vital to attract the right type of tenant and to impress them upon move-in. Our requirement is that a professional carpet cleaning company with a truck mounted cleaning system do the work. Carpet cleaning charges are usually billed to the outgoing tenant but this may be different with an inherited tenant.
Advertising
Prior to the completion of maintenance, we will prepare the marketing and confirm the pricing strategy. If we have photos and a solid availability date, we may be able to begin advertising at this time and start pre-screening and collecting leads. Please keep in mind that many people want to see the home before submitting applications or signing a lease agreement so advertising before it is vacant and ready is usually not helpful.
Once cleaning is scheduled, we’ll order professional photos as needed. When ready, we’ll activate advertising on 36 websites, begin showings, and start accepting applications. When it comes to pricing we will:
Showing
We are able to accommodate in person and virtual showings with flexible hours from 9 a.m. - 7:30 p.m. 7 days a week for properties in the Portland Metro area. Each week you’ll receive a weekly report with the number of inquiries, showings, and any feedback.
Leasing
We follow our screening criteria and process consistently with all applicants. Click here to review our screening criteria. It typically takes 1-3 days to process the applications. We’ll update you when an application is received and when we complete the screening process. We do require applicants to be able to start a lease within 2 weeks of their application submission date.
Pre move-in property review and re-clean
Once a tenant is ready to move in there is a final property review and depending on how long it was on the market, time of year, weather, number of showings, etc. there may be a final spiff clean. A new home is better without footprints and evidence of people having used the toilets during showings...
Every tenant wants 100% of their security deposit back, and every owner wants the tenants to pay for all repairs after move out...but where is reality?
What is owner responsibility?
What is tenant responsibility?
What is normal wear and tear?
We do not charge any extra fee for the repair and reconditioning of a property. Anything that needs to be done is first charged to the owner. Once the repairs are completed and owner/tenant responsibility has been determined we will bill the tenant and reimburse the owner.
In cases where we are acting as a general contractor for large projects such as roofing, flooring, kitchen remodel etc..., we add a 10% markup to the invoices.
A successful tenant turn will lead to a new happy tenant. This work is paid for in the form of a leasing fee and ongoing management fee when rent is collected. If this turn is a result of a tenant breaking their lease you will not have to pay a leasing fee, see our
guarantees page.
Check out our Frequently Asked Questions page to find out more about other questions you may have regarding our service.
You may also be interested in our Standards and Cleaning page to make sure you know what needs to get done while repairing your property for rent again.
