Rental property owners know that many factors contribute to their success, and one of those is how quickly they can get a property rented after it has been vacated. With the Jacksonville, Fl rental market being so competitive, you need every advantage you can get to keep your properties full.
One key to this is having the best standard make-ready process possible for all your properties. Our Jacksonville property management experts can tell you that this will reduce turn times and increase the income of your rentals! Here are four ways the right process can reduce vacancy time and boost your income.
1. Fewer Missed Repairs
When a new renter moves and finds broken appliances, faucets, or window blinds, one of the first things they have to do in their new home is put in a maintenance request. That starts a new relationship with potential long-term residents off on the wrong foot!
Property management experts know that a standard make-ready process gives real estate investors a checklist to walk through every element of a rental home. Creating and following a standard rent-ready process reduces the potential of misses repaired before move-in day. Your make-ready team of contractors doesn't have to wonder if anyone has tested the appliances yet.
A property manager knows that with a checklist, nothing gets overlooked! New residents move into a like-new home that functions well and doesn't require additional maintenance after move-in day.
Tenants Might Miss Maintenance Issues Too
What if a missed repair isn't something your new renters catch right away? When your rental-ready process overlooks a critical repair, there's a good chance tenants might not catch it, either.
When this happens, a minor issue that could have been taken care of during the make-ready can grow into a significant problem that requires more costly repairs. This leads us to the next way that a standard process boosts your income!
2. Reduce Maintenance Costs
When rental properties miss a critical repair and tenants miss it, too, that costlier repair puts a bigger dent in your maintenance budget than if it had been caught and fixed during the make-ready.
Property management companies know that preventive maintenance and fixing problems right away help reduce costs and maximize returns. The make-ready is an ideal time to catch up on preventative maintenance and conduct repairs for minor issues that could grow into bigger, more expensive problems if delayed.
3. Everyone Knows What To Do
Whether you coordinate various contractors, friends and family, or hire a property management company, a standard process helps everyone know what to do.
With a checklist in hand and clear instructions, your team can jump into action as soon ad your Jacksonville rental property is empty. Everyone knows their roles and the ideal order to conduct everything from cleaning to replacing the carpet, painting, and everything else on the list.
Disorganization, downtime, and delays between one team tackling their jobs and another contractor arriving to take care of the next steps prolong the amount of time your rental sits empty. Every day that the house sits empty means you lose rental income!
A sporadic and chaotic convergence of house cleaners and contractors in a mad rush to get everything done leads to mistakes and a poor-quality rent-ready process. Taking the time to standardize the process is well worth better results when getting a rental ready for new tenants!
4. Quality Shines Through and Builds Good Relationships
A rushed make-ready can be evident to new residents on move-in day. If former tenant smells linger and bathrooms or floors aren't clean, your new renters won't feel properly welcomed into their new home.
First impressions can leave a lasting impression, so make sure it's a good one! When renters move into a sparkling clean home and find everything in excellent working order, they know they're starting a new lease term in a quality rental property with exceptional management. While the renewal process for new tenants won't take place for several months after moving in, a poor experience in the first few days can make your renters eager to move out again after their lease ends.
Reducing vacancy times is an excellent way to reduce income loss, but rushing through the process can later lead to income loss when tenants aren't happy and don't stick around for another lease term. Setting a standard process is the best way to deliver a quality rental home every time you get a home ready for new residents.
A Jacksonville Property Management Company Delivers Quality Make-Readies
Renters care about the appearance of their new place, which is one reason why it’s so important to have a quality make-ready process. To ensure your property looks its best and doesn't take up too much time in between renters, consider hiring a trusted professional property management team like Spectrum Realty for this step of the rental process. Our property managers will provide you with excellent service and help you save money by reducing vacancy times! If you need any assistance or would like more information on how we can assist with your property management needs, please get in touch with us today.