How Property Managers Get Homes Rent Ready in Record Time
You’re reliable and trustworthy tenant has just turned in their 30 Day Notice to Vacate and all you can think about is “how will I find another tenant as good as my last one?” At least that is what we hope you are thinking. If not, you’re thoughts might be, “how will I get my house rent ready and how soon until a new tenant can move in?” If this is where your mind goes, rest assured, we have the answer. At RPM Select, our goal is make Sacramento property management a successful investment and business venture for property owners. No one likes to have a disruption in their cash flow. That is why our knowledgeable team of professionals at Select has provided landlords with tips and tricks they can use during the turnover process to get their home rent-ready as quickly as possible.
Preliminary Move-Out Inspection
When a tenant give you a 30 Day Notice to Vacate, acknowledge their intent to vacate by giving them a list of cleaning guidelines and an official move out date. For example, if someone turns in a notice to vacate on January 15th, day one of the notice is January 16th. Count 30 calendar days to determine the move out date. This means their move out date is set for February 14th. Let them know that keys must be returned to their Sacramento property manager no later than midnight on the date of their move out, February 14th. Provide the tenant with the option for you to conduct a Preliminary Move Out Inspection. During this inspection, the property manager enters the home while the tenant is present to walk through the property and address any concerns, maintenance, or repairs needed upon move out. This gives the property manager a heads-up as to what condition the property is in prior to move out. During this inspection, the landlord should make notes of flooring, paint and wall, and appliance repairs or replacements, and much more.
Getting the Home Rent Ready Once Vacant
- Day 1 of Vacancy (Feb 15th): Leave the first day of vacancy open for you and your maintenance technicians to walk through the property and test all appliances and determine what can be fixed versus what needs replacing. If appliances need replacing, order them immediately so they can be delivered in a timely manner. Maintenance technicians should also inspect all window coverings, countertops, baseboards, hardware, replace caulking and silicone in the kitchen and bathrooms, and change door locks.
- Day 2 – 3 of Vacancy (Feb 16 – 17th): If it was obvious during the Preliminary Move Out Inspection that paint and flooring will need to be replaced, you should have already called your paint and flooring contractors to get on their schedule for February 16th and 17th. The most successful property management Sacramento companies schedule contactors back-to-back to cut down on vacancy times. Many contractors will recommend painting before new flooring, because even the best painters can accidently smudge or drip paint on unwanted surfaces.
- Day 4 of Vacancy (Feb 18th): The property manager should walk through the property and ensure all work has been completed satisfactorily. Use this day to also install any new appliances so they are up and running by the time your first prospective tenant sees the property. Take updated photos of the interior and exterior. A recommended tip from the best Sacramento property management photographers is to turn on all interior lights and open window coverings to enhance the look and natural light of the room you are photographing.
- Day 5 of Vacancy (Feb 19th): First day of showings.
How Sacramento Property Management Companies Set Rent Rates
It can be difficult to determine asking rent rates without doing your homework. If your asking rent rate is too low, you run the risk of getting less qualified and less sophisticated applicants. If your asking rent rate is too high, you run the risk of prolonged vacancy as tenants walk away disappointed with what you are offering versus your competition. Select recommends conducting a Market Analysis. This can be done by searching for local housing ads from other Sacramento property managers that offer comparable characteristics to your house. Find homes that have the same number of bedrooms and bathrooms as your house, similar square footage and yard sizes, were built within the same time frame, and are located within a half mile to one mile away. What is their asking rent? How does the interior and exterior of those houses compare to what yours looks like? Are they remodeled or updated? Are they old and tired looking? Take these characteristics into consideration to determine your asking rent. Doing a Market Analysis can at least give you a ballpark figure on asking rent rates. Start your asking rent rate high. If no one expresses interest in your ad, lower the price a little.
Advertising Your Vacancy
Property Management in Sacramento can be disheartening to see all the options people have when renting. You may feel like a small fish in a big pond. That is why having a strong and attractive advertisement for your home can help reduce your vacancy time. Pick the best picture of your property as the featured image on your ad. This is often the exterior of the home which accentuates the curb appeal, or the kitchen, living or dining area. Go for the “wow factor.” Make people want to click on your ad to see more. Let renters know when the property is ready for move-in, the features the house offers, amenities, nearby entertainment, grocery stores, schools, and major roadways for commuting to and from work. Inform prospective tenants looking at your ad of additional costs for utilities and income requirements. Make your advertisement so attractive, people have to see it in person.
If you are like most landlords and want to keep your occupancy rate high while your vacancy rate stays low, call Select today to learn more about how we do turnovers in record time.