Turn over your rental units quick!

    Turn over your rental units quick!

    Feb 23, 2022

    One of the biggest drains on your rental properties cash flow is vacancy. Inevitably, a tenant is going to move out and you will be tasked with 'turning the unit' so that it is rent ready for the next tenant. A mistake that I see from many new investors is that they take too long to get the units back in rent ready condition. Here are three things you can do on your next unit turn to ensure the job gets done in a month or less.

    1. Try to do smaller repairs prior to the tenant moving out. Changing light fixtures, replacing a toilet, ordering new appliances, and even fixing floors. You obviously have to use your judgement for some of the items and certainly don't get into paint or drywall.
    2. Plan your work. Make a list of the things that need to get done so that when the unit is empty you can get to work right away. If you will need to bring in contractors, planning ahead will give you a chance to schedule them accordingly.
    3. Change over the utilities. Right away! Don't risk losing electric or heat at the unit, be proactive in making the transfer. I have seen new investors lose 7-10 days on their project because service was disconnected and someone had to come out to turn it on. It's a silly way to lose money.

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