3 Things a Property Manager Should Do Before a Tenant Moves Out
Owning rental properties is a great way to boost your income and overall wealth. The key to being a successful property manager is making your tenant turnover rate as low as possible.
Unfortunately, there’s nothing you can do when managing a property to prevent every tenant from ever leaving. So when it does need to happen, it’s important to make the transition as smooth and seamless as possible. The less time your rental property is empty, the better it is for your investment.
Follow this guide for the top three things you should be doing before your tenants move out.
1. Keep the Logistics in Mind
There are so many things that go into a move, even from the property management side. It can be difficult to keep track of all of the elements but it’s crucial to keep the logistics as organized as possible.
The best thing you can do is create a place where all that information is stored. This makes it so anyone on your team can refer back and find exactly what they need to know. This should include payment deadlines, moving dates, and inspection plans. The better you keep track of all these things, the less confusion there will be.
2. Start Looking for a New Tenant
As soon as you know there is going to be a vacancy in your rental property, it’s time to start looking for a new one.
Having tenants is the way to boost your property landlord’s salary, so you don’t want the place to sit empty. The quicker you start your search, the more time you’ll have to find just the right new tenant. Ideally, you’ll find them in time to move in as soon as the place has been cleaned following the current tenants moving out.
3. Complete Property Inspection
Managing a property means you take care of all the repairs and upkeep that are necessary. When a tenant moves out is a perfect time to get to those larger projects you’ve been putting off.
It’s a good idea to do an initial property inspection before they’ve actually left to plan what tasks you’re going to get done after they leave. Then a more thorough inspection can be done when they leave and the place is completely cleared out.
Property Manager Tasks When a Tenant Moves Out
Making sure the tenant experience is positive is one of the most important parts of being a property manager. And that includes when they’re moving out as well. These kinds of positive interactions will help you gain a reputation for being a great place to live!
Taking the time to set up your plan for when a tenant moves out, you won’t have to scramble when the time comes. You can simply follow the set procedures and feel confident that everything is getting done that needs to be. Everyone will know what their roles are and moving day will go as smoothly as possible.
If you’re interested in learning more about gaining investment properties and how to be a successful property manager, contact us today!