Effective property management hinges on proactive maintenance. By downloading our Property Standards document, the first step is taken to prevent miscommunication and ensure your property is always in top-notch condition. Regular maintenance is the cornerstone of preserving your property's value, safeguarding against costly repairs, and enhancing tenant satisfaction. Our dedicated property management team takes the lead in maintaining and servicing your property. We conduct routine inspections, address repair needs promptly, and ensure that all appliances and systems are in optimal working condition. In case of emergencies, we are committed to swift response, providing tenants with peace of mind and upholding the property's reputation for quality management. Stay tuned for our forthcoming blog posts, where we'll delve deeper into the significance of proactive maintenance strategies and cost-effective approaches to keep your property in pristine condition.
Preparing Your Property to Be Rent Ready:
The process of getting your property ready for rental is a critical phase. It involves meticulous planning, comprehensive cleaning, potential renovations, and ensuring that every aspect is in excellent working order. Our blog posts on "Preparing Your Property to Be Rent Ready" will serve as your guide, offering valuable insights on enhancing your property's curb appeal, optimizing its layout for rentability, and ensuring compliance with local housing regulations. Setting the right rental price is essential, and our expert advice will help you attract quality tenants while maximizing your rental income. Preparing your property to be rent-ready lays the foundation for a successful and profitable rental experience. Let us assist you in navigating this phase with ease and confidence.
The Five-Day Advantage:
One standout feature of our property management approach is our commitment to efficiency. While the nationwide industry average for home preparation takes 10-14 business days, some management companies take even longer, delaying property advertisements until the unit is deemed "rent ready." At Nexus, we pride ourselves on typically needing just five business days to prepare your property. This swift turnaround not only reduces downtime but also saves you money. In fact, it amounts to a saving of $840 in lost rent, based on an average rent of $1800 per month (which equals $60 per day).
The Rent-Ready Process:
Our efficient "rent-ready" process has evolved over three decades. We have established relationships with dependable contractors who offer competitive pricing and adhere to strict timelines. We recognize that involving homeowners directly in the "make ready" process can lead to potential delays, cost overruns, unclear expectations, and the hiring of unlicensed or uninsured contractors. Homeowners are often busy with their full-time jobs and may not have the expertise needed for efficient property turnover. This is why we strongly recommend leaving the rent-ready process to the professionals at Nexus. We handle the entire property turn from start to finish, reducing the days your property remains unoccupied or doesn't show well on the market. This minimizes vacancy periods and maximizes your rental income.
The Rent-Ready Timeline:
Our rent-ready process follows a structured timeline to ensure a smooth and efficient transition between tenants:
Day 1 (Usually on a Monday):
Complete a full evaluation of the property, documenting its condition through video to resolve any future security deposit disputes or work-related questions.
Create a punch list of necessary repairs and cleaning tasks.
Rekey all locks at the homeowner's expense to protect the property and new tenants.
Install a lockbox for convenient property access.
Day 2:
Address mechanical issues to meet our Property Standards.
Day 3:
Conduct paint touch-ups and patch any holes to ensure the property looks its best.
Day 4:
Perform a full or hourly clean based on the evaluator's findings. This may include correcting any oversights from previous cleaning efforts.
Day 5:
Clean the carpets to ensure they are in excellent condition for the new tenants. If the property has pets, we apply a required pet treatment to all carpeted areas for an additional fee.
Create a pre-move-in video to document the property's condition, serving as a valuable record.
Day 6 (Friday/Saturday):
Welcome the new tenants as they move in. Our team ensures a warm welcome by preparing the house, presenting a gift bag, and celebrating this significant moment with them.
Provide home education to familiarize the new residents with their responsibilities for maintaining and caring for the property.
Establish the property's condition right before tenant occupancy by giving them electronic and paper copies of the Property Condition Form. This allows them to document anything we may have missed and bring it to our attention.
Complete key handover and other necessary paperwork, ensuring a smooth transition for the new tenants.
In rare cases, collect final certified funds, if applicable.
Not Our Circus, Not Our Monkey:
We understand that property owners or former tenants may have preferences for third-party contractors or may choose to perform the work themselves. In such cases, we do not chase down these contractors or individuals for corrections. We have spent years carefully selecting the best contractors at competitive rates who understand the importance of timely turnovers. The vendors we hire are held to high standards of professionalism and scope of work. They will return to address any outstanding issues at no extra charge if they are contracted through us. In essence, if it's our responsibility, it's our commitment.
Reasons for Potential Delays:
While we strive to adhere to our timelines, certain factors can lead to delays in the property preparation process. These may include major repairs, extensive painting or repainting, thorough cleaning, new flooring installations, infestations or pest issues, requests for multiple bids, holdover occupants (which could be the homeowner moving out or the tenant who refuses to vacate), or personal property left at the premises. Rest assured that we work diligently to minimize these delays and ensure that your property is rent-ready as swiftly as possible.
Get in Touch:
If you have any questions or require further clarification regarding the speed and efficiency with which we prepare properties for rent, please do not hesitate to contact us. You can reach us at Nick@Nexus.RealEstate or call us at 617-642-0874. We are dedicated to providing you with a smooth and profitable rental experience by minimizing vacancy, maximizing rents, and taking the hassle out of property turnover. At Nexus, we are committed to excellence in property management.
