Turnover

Our Turnover Process Minimizes Vacancy Costs

One of the costliest factors in owning a rental property is VACANCY COSTS. Having your investment property low on your ‘To Do’ list can easily lead to an empty unit. Going without rental income for even ½ of a month can quickly eat into your bottom line. At CL3 Property Management, we have developed processes to reduce or eliminate costly vacancies by proactively communicating lease renewals and having efficient turnover operations.

Our first priority is to lessen turnovers in general! Happy Tenants = Less Turnovers. Our commitment to quality service to your tenants will keep them happier in their property longer.

Through our renewal process, we reach out to property owners 3-4 months in advance, setting a pricing and renewal strategy to allow a comfortable decision time for your existing tenant. Two months before a lease expires, we will be ready to re-list the property, if necessary, which in turn allows for an ideal time to fill the unit upon lease termination.

Our leases end on the last day of the month at noon and begin on the first at noon. Should a tenant plan to move out, CL3 is equipped to turn the unit over within a 24-hour period, which would include painting/repairs, cleaning and our inspection process.

Our property management team will walk your unit well in advance of the lease end date, and provide painting, repair and updating quotes when necessary. Our team and vendors are prepared to ‘turn’ the unit quickly in preparing the unit for a new tenant. Additionally, our administrative team will work with the incoming/outgoing tenants to properly schedule their moves to ensure a smooth transition.

Once the unit is ready for move in, CL3 Property Management utilizes an inspection software that allows us to capture photos and document conditions in an easy-to-read pdf format. The incoming tenant and owner will receive a copy of the inspection before they move in and the tenant signs off acknowledging the condition of the unit. 

Turnovers can also be an opportunity to add value. A tenant move out allows the possibility for upgrades to your property, such as new flooring, bath or kitchen updates and more. These can significantly increase the rental value and sale value of your property in the intermediate and long term.