Taking Advantage of Turnover

Turnover can be one of the two most expensive scenarios for a property investor!  Unfortunately it is unavoidable, especially in a market such as Bryan/College Station where you have college students renting your properties.  Proper management will help keep the high costs at a minimum, however it takes time for the effects of proper management to kick in.  Many times, when we take on management of a property that was being improperly managed, it can take up to 12 months to reverse the problems that derived from it!

Additionally, because it is unavoidable, why not take advantage of the turnover?  What I mean by that is to do the things you cannot normally do while it is vacant!  Many times a turnover is less than a weeks time, so you must plan for the things you want to do.  Here is a list of items I recommend to take advantage of during a turnover:

• Upgrades to the property
  • New flooring
  • Fresh paint
  • Modernize the property
  • Upgrade counter tops
  • Improve curb appeal
• Marketing
  • Photos
  • 3D virtual tours
  • Additional Marketing items
  • Video walk throughs

This is just a small list of things to think about while the property is sitting empty.  These things may come at a cost, but that cost is made up ten fold with the return you get from them, such as increased rent, less turnover, and greater visibility.

For questions, feel free to reach out to us anytime!