The Ultimate Guide to Efficient Make-Ready Processes for Rental Units
A make-ready, also known as a turnover or rental turnover, refers to the process of preparing a rental unit for a new resident after the previous one has moved out. This crucial phase ensures the property is in pristine condition and ready for new occupants.
What is a Make-Ready?
The make-ready process starts as soon as a resident decides to move out. The first step is a move-out inspection, where property managers assess any damages or necessary repairs. This inspection helps determine the scope of maintenance required to make the property rent-ready.
Once the previous resident has fully moved out, the make-ready process can commence. Key tasks often include:
- Painting: Refreshing walls to enhance the property’s appeal.
- Deep Cleaning: Ensuring the unit is spotless.
- Replacing Carpets and Fixtures: Upgrading worn-out elements.
- General Maintenance: Addressing any minor repairs or updates.
The aim is to ensure that the unit is in excellent condition for the next resident, meeting both aesthetic and functional standards.
Cost Factors for Make-Ready
The cost of a make-ready can vary widely, largely influenced by the property’s condition and the length of time the unit remains vacant. On average, rental turnovers cost around $2,500. Key factors impacting these costs include:
- Property Condition: Extensive damage or wear and tear increases repair costs.
- Vacancy Duration: Longer vacancy periods mean more lost rental income and continued utility and insurance expenses.
Effective make-ready management is essential for minimizing vacancy time and maximizing rental income.
How Long Does a Make-Ready Take?
The duration of a make-ready can differ significantly between property management companies. Larger companies often complete make-readies faster due to their established processes, such as:
- Automation Tools: Streamlining the turnover process.
- Preferred Vendors: Working with trusted contractors to expedite repairs.
- Efficient Internal Maintenance: Utilizing in-house technicians for quicker turnarounds.
Ideally, aim to complete make-readies within 7-10 days. This timeline helps reduce vacancy periods and optimizes rental income.
Tips for an Efficient Make-Ready Process
- Turnover Checklist: Create a comprehensive checklist to ensure all tasks are completed and nothing is overlooked.
- Property Maintenance Software: Invest in software to manage make-readies efficiently. This software allows you to:
- Schedule and track all tasks associated with the turnover.
- Keep all turnover-related information organized in one place.
- Monitor and improve turnaround times through a metrics dashboard.
By leveraging these tools and strategies, you can enhance the efficiency of your make-ready process, reduce vacancy periods, and increase overall rental income.
In addition to a turnover checklist, you could also look into property maintenance software. With dedicated maintenance software, you can set up specific projects for turnovers. When you receive notice from a resident they are moving out, you can start scheduling all the tasks required to complete the project. With maintenance software you can keep all turnovers organized in one location. In addition, with a metrics dashboard you can track how long your turns take and work to improve that metric over time.
