Turn Over Costs and Ways to Reduce it

[Sam Booth]

Hey everyone!

I just purchased my 3rd single family rental property in Alabama (Out of State!) and the first 2 rentals are going great and the property manager is doing a great job, including fixing a few things for me prior to the tenants moving in. 

My question is about turn over costs and how to reduce it. Especially since I am doing this from out of state and starting out. Here's what I have in mind so far to reduce costs, and can anyone add any ideas? 

- Vinyl Plank flooring (instead of carpet which would need to be replaced or cleaned, making vacacany longer)

- Curtain rods (instead of blinds that will probably get wrecked, tenants can supply their own curtains)

- LED lights (so that we reduce mainteniance costs, since LEDs generally last 10+ years)

- Simple Yard / Grass (for quick mowing)

- New / Newish Appliances (to replace the aging 26 year old ones that came with the house)

- Simple paint scheme for touching up paint (Grey walls and White trim is working great so far)

- Door knob stoppers (The circular ones the doorknobs hit so they don't hit the wall, or baseboard ones)

- Getting high quality contractors for major home systems (HVAC, water heater, etc) for a high quality install

- Forget the waterline to fridge or icemakers

- Plastic piece (similar to plywood) on kitchen and bathroom sink cabinet floor to keep from from rotting from leaks

What ideas can you add to my list?

What's your average turn over costs on B class single family homes?

[John Underwood]

Also screen for quality tenants. Get a deposit higher than the rent so they turn in a notice and don't try and use the deposit for last month's rent.

Have in your lease that you can show house after they turn in a notice. This will allow you have someone lined up right after they move out. This can keep you from losing a month's rent at a turnover.