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Updated almost 8 years ago,
property management - incentivizing quick turnover of units
I use a property manager to manage my portfolio and one of my big concerns is slow turnover of vacant units. Between getting a unit ready for showing, showing, and leasing, it can take a few months. I'm wondering if anyone has any ideas for incentivizing property managers to turn units quickly. For example, offering 100% of one months rent instead of the typical 50% commission if the units are turned in X amount of time. Does anyone have any ideas? Also, does anyone have any rules of thumb regarding how quickly units should turn-over? I'm talking about apartments in a desirable part of town with low-inventory. thanks!