Turnover
Procedures
STEP 2: Turnover Questionnaire - [NEW]
This is a new part of the procedures that's in beta testing now.
We'll text the owner a link to this page so you can decide if you want to make changes to your property settings during this turnover:
Additional Lease Info
We programmed a custom field in appfolio to push data into the lease agreement on a per property basis. Now you can add property specific info to the lease for one or all your properties.
Advertised Rent
We update Advertised Rent during a turnover, so the system can function without landlord involvement. However, you can override the decision anytime before an application is submitted.
Paid Advertising
There's a cost to syndicate to the 40+ websites we advertise on. For example, Zillow charges us almost $70 a month per home. A limited amount of Paid Advertising is included with some Management Plans. Compare Plans to see what your plan includes and upgrade to get more time. Your plan type can be found in the address on the your most recent Owner Statement.
Pet Policy
Many good tenants have pets but have trouble renting homes because many landlords do not allow pets. If you allow pets, you'll tap into a larger tenant base. Plus, you'll collect Pet Rent.
Property Reserve
Except in the event of emergency, by default our Maintenance Coordinator is not allowed to dispatch workers if the repair cost will exceed $500. They must for you for approval. That time is billed at the Coordinator hourly rates. You can avoid that time expense by increasing the Property Reserve:
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Rent Concession
Our system requires tenants begin paying rent immediately when they want to rent a vacant home, even if they don't plan to move in immediately. That works when supply is low & demand is high.
When vacancy is high, tenants will wait to sign a lease until right before they are ready to move. If they wait, we might lose the opportunity. To avoid this, you can offer a rent concession. This is a one-time credit that will reduce the amount a tenant needs to pay to move-in.
To document this event, we bill for the entire amount due, and enter a Rent Concession as a negative amount.
Request upgrades
Tenants are willing to pay for more a home that has a fresh coat of paint or new flooring.
STEP 1: Move-Out Notice
The tenant submits a Move-Out Notice based on the type of lease they have (Annual or Month-to-Month).
There's also an option if they need to move before their annual lease expires but will cost them an Additional Fee, plus they are required to pay rent until a replacement tenant begins paying, so we don't see many of these.
The tenant is reminded that they must return the home in Rent Ready condition.
STEP 3: Advertising
30 days before the move-out date:
The vacancy is posted on our local website for all plans.
Premium Advertising is activated for properties on the Silver, Gold & Platinum Plans.
Compare plans:
Upgrade plans:
Check status of your rental:
Search Local Vacancies Page
Reduce Advertised Rent:
STEP 4: Market Conditions Reports - [NEW]
This is a new benefit of being on the Gold or Platinum Plans.
We built a system that shares how many inquiries, showings, & applications we've received in the last 7 days for all properties we manage.
Knowing this info can help you decide if you want to lower rent or let it ride another week.
STEP 5: Rent Ready Inspection
We schedule a Rent Ready Inspection 7 days before the Move-Out Inspection. The goal is to coach tenants on their responsibilities to prevent or reduce repairs and penalties billed to their account during their move-out. We just want the property back in Rent Ready condition so we can present it to the next tenant the following day without high cost and stress of last minute work.
STEP 6: Move-Out Inspection
This is where we check to make sure the tenant completed their checklist. If not, we dispatch folks to do the work and bill it to their account. Hopefully, nothing will prevent the next tenant from moving in.
FAQ
What's a Turnover?
A Turnover is when the current Tenant(s) move out and new Tenants moves in. Our Turnover Procedures make for a smooth transition.
Do I need to get involved?
You (Property Owner) only need to update Advertised Rent with our Request Form if you don't agree with our initial decision. We'll take care of everything else.
What's the difference between Market Rent & Advertised Rent?
Market Rent is an amount that a willing and able applicant commits to pay when they sign a lease.
Advertised Rent is the amount posted on: Local Vacancies Page
What Advertised Rent do we start with?
We typically set Advertised Rent at $100 to $200 more than Market Rent because sometimes people pay it!
Then, based on your investment philosophy, you can reduce Advertised Rent as needed with just a few clicks on: Request Forms
When should I reduce rent?
Some landlords like to advertise high and wait, knowing there will be vacancy expense. Others advertise a lower amount with hopes to avoid vacancy. Allowing you to control your rent online makes this a custom experience. Caution: Don't go too low because that attracts the worst tenants.
Vacancy Expense
Consider the following when updating Advertised Rent:
Mortgage
Utilities
Lawn service
If your property has a negative balance on the Owner Statement, please log into Appfolio and make an Owner Contribution to keep our Trust Account in compliance.
How do I know if my property has been rented?
Gold & Platinum: You'll get weekly Market Conditions Report
Bronze, Silver & Discontinued Plans: Search: Local Vacancies​ Page
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​Website Advertising vs Paid Premium Advertising?
There are two types of advertising: Website (Free) & Paid Premium. Some Management Plans include a limited amount of Paid Premium advertising. Read the details in the section below.
Do you negotiations with Applicants?
No. We do not negotiate. If an Applicant is not willing to pay the Advertised Rent, they can wait to see if the rent is reduced at some point. If they really want the home, they don't want to risk losing the home so they take action immediately. We may text you request to offer a Rent Concession.
Can we make upgrades during this turnover?
Yes, but you'll need to take action now to get the best rates and minimize vacancy. Important:
Your property can't carry a negative balance during the remodel so plan to make an Owner Contribution to cover Management Plan fees, utility expenses, lawn service, etc. while the home is vacant.
We do not advertise homes that are being renovated because we have found that attracts the worst tenants.