For some St. Louis rental property owners, the turnover process between tenants can take as little as 24 hours. For others, there are weeks and even months of repairs and renovations necessary in order to return the property to rent-ready condition.
Turnovers are expensive, especially if they’re drawn out. You’re not earning any rent during this period, and you may be spending a lot of money on repairs, replacements, cleaning, and updates.
The length of your turnover process will depend on your property condition and the relationships you have in place with vendors and contractors who are prepared to do the necessary work on your rental home.
Here’s what to expect, and what you can do to keep turnover time to a minimum.
Establish a Turnover-Friendly Move-In Process
An efficient tenant turnover period actually begins at the start of the lease period, when your St. Louis tenant moves into the home. There are a few important steps you can take in advance of the lease term’s end date that will ensure your turnover time is kept to a minimum.
- Conduct a thorough and well-documented move-in inspection. Take pictures of everything inside and outside of the home. This is a documented agreement that establishes the condition of the property. When the tenant moves out, having this inspection report handy will allow you to conduct the move-out inspection faster, and prepare the documentation necessary for the return of the security deposit in part or in full.
- Pay attention to your lease agreement. It should establish the notice period a tenant must provide before moving out. Most leases have a notice period of 30, 45, or 60 days. You’ll probably enjoy a shorter turnover time when you have a longer notice period because this gives you extra days and weeks to prepare for your current tenant’s departure and plan for your incoming tenant’s arrival.
- Explain your expectations to your tenant, including how you expect the property to be returned at the end of the lease period.
Schedule Vendors and Contractors
Turnover time will also depend on how quickly you can repair and clean the property.
Plan on a few days to take care of things like painting, carpet cleaning, landscaping, and minor repairs for wear and tear items throughout the property. You may want to spend a few days making upgrades or updates that have the potential to increase what you earn in rent. If your property is going to need larger and more extensive repairs, your turnover period will be a bit longer.
Have a list of qualified vendors who will be ready to do the necessary maintenance work as soon as your tenant moves out. This will allow you to market the home faster and find a new tenant without losing a lot of rent on vacancy.
Marketing Can Reduce Turnover Time
The number of days during your turnover will also depend on how well you’re marketing your property. If you have a great program of online advertising and you’re responsive to every potential tenant who calls with questions or to schedule a showing, you’re likely going to have a shorter turnover period. If you wait a few days before listing the home for rent online and you’re slow to respond to inquiries, your turnover period will be a lot longer.
These are just a few of the things that can make a difference in your turnover period. Working with a professional St. Louis property management company also keeps your turnover time low. We have resources, vendor networks, and processes in place that allows for a lower vacancy period and a quick turnover.
Contact us at Amoso Properties if you need help preparing for a new tenant.