If we are managing a home with an existing tenant and long-term lease, skip to Banking, Payment Info, and W-9 for Taxes.
The first step to preventing miscommunication is by downloading the Property Standards
Preparing a property to rent includes many moving pieces, checks and balances, schedules, and whole lot more in a short amount of time.
Coordinating schedules to keep down time to a minimum is very important.
"The better we turn the home over, the better we can expect it back."
The nation-wide industry average for preparing a home takes 10-14 business days. Some management companies take as long as three weeks or won't even advertise your home until it's "rent ready". Nestwell typically needs 5 Business Days! That's a savings of $450 in lost rents! (Average rent is $1500/30 Days = $50/Day)
The rent ready process has been continually improved for over 30 years. We have good contractors that offer reasonable pricing and do good work lined up to complete the tasks in a set timeline.
One of the reasons we prefer homeowners are not involved in the "make ready" process is they can cause delays, over pay "their" contractors, unclear expectations or scope of work required, hire people who are not licensed and insured, and frankly the homeowners are busy with their full-time jobs, etc. So it's important to leave the rent ready process to the pros by letting Nestwell handle the property turn from start to finish to reduce the days the home doesn't show well, days on market, reduce vacancy, and maximize rents.
Rent Ready Process
Day 1 (Usually on a Monday)
- Complete Full Evaluation Of Property - We video the entire property in order to establish the condition of the property. This helps with settling future security deposit disputes or questioning of work required.
- Create Punch List - The third party evaluator will determine the necessary repairs and cleaning needed at the property.
- Rekey Property - In order to protect the property and new tenants moving in, we require all door locks to be rekeyed between occupants. Sometime occupant make extra copies of keys, fail to return them, etc. So for the safety of the new tenants (and almost state law as of 2019) we require the locks to be changed at the homeowners expense.
- Install Lockbox - If home was previously vacant, there's already a lockbox installed. This is how our team accesses the property.
- Mechanical Turn - Complete or submit bids to ensure property meets our Property Standards.
- Paint Touch-up - Painters have to match paint if there is no existing paint on-site, which is an art form. Patch, prime and paint holes. If they're excessive, painter will go corner-to-corner in order to make the house look nice and avoid the bullseye look.
- Full Clean or Hourly Clean - Depending on the evaluators findings Nestwell will have the property professionally cleaned. (The cost for a full-clean averages ~0.20/SF.) If other cleaners have been in the home and maybe just missed a few things, our cleaners will take corrective action to finish the job.
- Carpet Cleaning - This is one of the last things done because we want the carpet to look nice for the new tenants and video of the property. Carpets need time to dry. If a home has pets, there's a required pet treatment assessed to all carpeted areas for an additional fee.
- Pre-Move In Video - Establish the condition of the home right before tenant takes occupancy. Pure gold.
Day 6 (Friday/Saturday)
- New Tenant Moves In - We want this time to be a celebration for the tenants so "we welcome them home" by meeting them at the home, preparing the house for them, giving them a gift bag, and celebrating.
- Home Education - We educate the new resident on what their responsibilities are for maintaining and caring for the home.
- Establish Condition - We give them electronic and paper copy of the Property Condition Form that they get to document anything we've missed and bring it to our attention.
- Sign For Keys & Other Paperwork - We give them keys and sign additional acknowledgments cover the rules of the game and set them up for a success.
- Collect Final Funds - In rare cases we will collect final certified funds.
Things to Note:
Not Our Circus, Not Our Monkey - If the property owner or former tenant insists on hiring their own third-party contractor, buddy, or does the work themselves, we will not chase down the contractor to make them return. We have spent years handpicking the best contractors, at the best rate, who understand that time is of the essence, and our system to reduce the time between tenants. We ensure that vendors we hire are held to a high standard of professionalism and scope of work. Our vendors will return until we are satisfied free of charge. If it's our monkey, it's our circus.
Reasons For Delays - We do our best to keep to our own timelines because often times we have a new tenant lined up who wants to move in as soon as the home is ready.
- Major Repairs & Remodels
- Major Painting & Complete Paint Out
- Major Cleaning
- New Flooring
- Infestation or Pest Issues
- Request For Multiple Bids
- Holdover Occupants (This can be the homeowner moving out or tenant who refuses to vacate)
- Personal property left at the premises.
For any questions regarding the speed and way we prepare a property for rent, please contact us at Maintenance@nestwellpm.com or call 801-930-1309.