It’s a fact of life: people move. Whether it’s commercial property maintenance or residential property maintenance, when tenants decide to move on, there are considerable tasks and expenses associated with making a unit ready for the next tenant. Some property managers struggle to organize an efficient turnover while still attending to all of the other duties that residential property maintenance requires. Outsourcing these duties to an outside company can help move the process along more quickly, meaning less financial impact.
Tenant Turnover – Step One: Inspect
A commercial maintenance company’s first step in assisting with tenant turnover would be to inspect the vacant unit. A thorough inspection will identify how deep of a cleaning will be required to bring the unit to expected standards. Damages and other potential repairs or upgrades will be recorded. An accurate record of the property condition upon vacancy should also be kept on file to ensure that excessive damages can be recuperated from the prior tenant.
Tenant Turnover – Step Two: Repair And Upgrade
Once the condition of a unit has been inspected and recorded, the next step is to make any minor or major repairs. These repairs could range from simple cosmetics, such as repainting, but could also lead into more major trade-related repairs, like electrical or plumbing. Speed of labor aside, when repairs get into the realm of requiring an expert’s hand, it is ideal to employ a residential property maintenance company. In most cases, residential property maintenance companies have certified specialists in several different trades, meaning that one phone call can address any repair or upgrade your unit might require. This saves time from calling several contractors, and money from not having inexperienced or uncertified work completed.
Tenant Turnover – Step Three: Clean
Whether repairs are needed or not, even if a tenant left the unit in decent shape, it must be cleaned thoroughly before the next occupant. It is standard to apply a fresh coat of paint, have the floors or carpets cleaned, interior and exterior windows washed, and appliances or fixtures wiped down. Each day without a tenant is a loss of income, which makes it even more important to expedite the process. Skipping this step could lead to a longer turnover time, as potential new occupants may not want to move into an unclean space.
Tenant Turnover – Estimating Costs
There are several factors involved when estimating your tenant turnover costs. A good commercial property maintenance company can help with not only figuring out your existing cost, but lowering it. To calculate a true estimate, you’ll need the rental records to determine the average length of time a unit stays occupied, as well as the quality of tenants in your units. Compare the rent and value of your units against comparable nearby units, as well as the overall demand for similar spaces in your area. Lastly, factor in the turnover time between tenants, as an empty unit earns no income.
Any time you have a tenant leave, it’s important to occupy the unit as soon as possible. A property maintenance company can help you make a smooth transition and save you time and money in the process.