Tenant turnover can lead to an incredible amount of profit loss. By following the proper steps, you can ensure that your business remains as profitable as possible. There are many mistakes that are common for a landlord to make throughout the tenant’s move out process. Being aware of these common mistakes will help you to avoid them and maximize your profits. From cleaning to inspections, it is important to follow the proper procedures during tenant turnover.
Insufficient Tenant Screening
Tenant screening is often considered the most important process when choosing a tenant to fill your property. A thorough tenant screening process is vital to ensure that you obtain high-quality tenants that will minimize your expenses. Failing to properly screen tenants can result in excessive vacancies, missed rent payments, and much more. Here at Keyrenter, we use a comprehensive 13-point screening process to weed out the potentially problematic tenants.
Ignoring Maintenance Issues
Between tenants is the ideal time to perform maintenance on your rental unit, because it will prevent you from disrupting their busy schedule. Ignoring maintenance can result in exorbitant costs further down the road. Maintenance may seem like an unnecessary expense, but it is important to ensure that your property remains in excellent condition.
Move In and Move Out Inspections
Move in and move out inspections are important to ensure that you are aware of the condition of your property prior to and following when a tenant has lived there. This will help you to both justify and determine whether you keep part or all of a security deposit. These inspections are a necessary part of the tenant move out process.
It is important to ensure that you follow the proper procedures when a tenant moves out of your property. To learn more about these procedures, contact our experts at the Keyrenter in Merrimack today!
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