Members of the Armed Forces can be the greatest tenants, but because they could be reassigned or deployed at any time, a landlord could have as little as a month's notice that their tenants are moving. In areas with high military populations, this can become a difficult issue. Fortunately, there are a few ways to speed up turnover time in these locales.
Perform Periodic Inspections
One thing that slows down turnover time is being surprised by the amount of work needed before a property can be rented again. By performing semi-annual or quarterly inspections, this problem can be greatly minimized.
By performing periodic inspections, landlords can note what's needed for the property before the military tenant moves out. Additionally, they can ensure the property isn't being mistreated in some way so that when a tenant does move out, a large amount of work won't be necessary before moving a new tenant in.
Choose Lease Dates Strategically
Many landlords feel it's simpler to have the lease dates fall on the first or last day of the month. Due to the necessary work required before a new tenant moves in, though, it's difficult to have a tenant move out on the last day of the month and a new tenant move in the next day.
By having the lease end around the 23rd of the month, landlords have about a week to get their property ready for a new tenant. Additionally, when service members have to leave unexpectedly, their lease will end one month after the next rent due date. This may help landlords get a new tenant moved in much quicker.
One of the quickest ways to speed up turnover time is to do as much electronically as possible. Taking rental payments online means fewer trips to the bank and post office, and this opens up more time for the aforementioned periodic inspections and property rehab.
Using online software that automates background checks is also ideal. This removes the once-necessary task of visiting government institutions and filling out paperwork for these tenant screenings.
Have Contractors Ready
Landlords who rent to military populations generally have a month, and maybe more, before their property is vacated. It's a safe assumption that someone in the military isn't going to just disappear one day without paying rent.
Because of this nearly guaranteed month, landlords have plenty of time to prepare the property for a new tenant. It's important to speak with needed contractors well in advance of the tenant's move date and have them lined up and ready to come in the day after a tenant vacates the property.
Use Automated Housing Rental Network
The Automated Housing Rental Network (AHRN) is a website used by military members to find housing. It's free to post on the network, and in many instances, landlords can be paid by the Department of Defense directly. Not only does this take out several of the typical headaches related to the rental process, it ensures that properties in areas with large military populations can quickly be rented by incoming personnel.
High tenant turnover is never ideal, but in areas with large military populations, it's difficult to avoid. Fortunately, this doesn't necessarily mean that a property will sit uninhabited for long periods of time. By simply using these tips, landlords can ensure they have little downtime between tenants.
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