Welcome to the Boise TurnKey Beat- Thank you for reading! We plan on filling the newsletter with valuable information every month regarding the latest stats and trends specifically in the Boise market. We'll also include articles and information on growth and major projects in our market and we'll occasionally include a project of our own that we are working on for our clients. Finally- we also want you to get a feel for what makes Boise so great and why people keep coming here- events, businesses expanding, new restaurants, etc. 

We absolutely want it to be entertaining and have meaningful information for you. If you want to hear more about a specific subject or want an article on an upcoming project you are aware of, please let us know. Feedback is welcome and encouraged. 

Chat with the Property Managers

So, You've Got a Vacancy?

Over the last couple months, we've provided information around why we're aiming to keep our lease renewal rate so high. However, we can't win them all- so when the inevitable happens and a property goes vacant, what does that mean for the homeowner? What steps go into the full turnover process, and what can all parties involved expect?

The long and short of a turnover is to think of matters in three phases: Old tenant transitioning out, the actual vacancy, and new tenant moving in. There are many steps for each phase (and checklists for days!), but we'll provide a high level overview here. Without mincing words, the turnover and vacancy phase of property management creates the heaviest workload for all members of our team. However, the good news with us is, we don't price it with the heavy price tag! Many companies choose to charge vacancy fees, leasing fees, advertising fees, etc- but Boise TurnKey Property Management DOES NOT. We do this deliberately to show that we have skin in the game- we feel these vacancies with a sense of urgency. We want to deliver a quality home into the housing market and find highly qualified tenants that will be happy there, and pay rent for years to come! 

Phase One: Transitioning the Old Tenants Out.

This phase begins when the tenant provides us the legally required 30-days written notice of lease termination. Internally, this triggers us to provide these tenants with the education around our move-out process, cleaning checklist, gathering forwarding information, and getting a secure lockbox set up closer to move-out. We also review the latest inspection from mid lease, to check on any notes regarding damages or deferred maintenance items required. We ensure that utilities are set up to revert back to our directives during the vacancy time period (so no electricity is cut, water turned off, etc). Also, we reach out to owners to provide the heads up that a vacancy is coming. 

Phase Two: The Property is Vacant.

During this phase, we're accessing the home as quickly as possible (1-2 days) to conduct an inspection and evaluate for a maintenance punch list, assess damages, etc. If a homeowner doesn't hear from us at this point- that's a good sign! This means that the turnover scope has been deemed to be routine, and that any/all damages found can be completely handled from using the tenant's deposit. Typically we've already lined up contractors to book off cleaning, carpet shampooing, and we're providing scope of work for handyman repairs. Once we have these invoices, we begin processing the security deposit dispositions to old tenants- legally, these all must be handled within 30 days of move-out. 

Phase Three: New Tenant Phase.

Once a property is nearing rent-ready (hopefully within that first week vacant), we will reach back out to homeowners regarding the new ad. Ensuring we've gotten recent photos and a video tour showcasing the best features of the property, we've also done our market research around a competitive price point to recommend. When an ad and all terms are approved, our software syndicates the listing across over 40 of the highest used rental platforms for new tenants to find. The process of touring, providing quick answers to prospects, sending applications, screening, and securing new tenants begins. 

When we have a new qualified tenant(s) approved, our office is busy collecting the deposit and prorated rents, signing a lease, coordinating key pick up, and welcoming the new folks with smiles galore! Within their first week of tenancy, we're also ensuring they've secured renter's insurance, and have set up applicable utilities. Did you know that we always provide a welcome bag full of TurnKey swag and cleaning goodies for tenants, as well? These steps all help with our new tenant satisfaction and move-in survey results. We aim to make and keep a great impression. After all- we ultimately want to keep good tenants happy, which helps people stay in place, rents paid, and prevents vacancy going forward!