Tenant Turnover Services for Out of State Rentals

[Mark Hill]

This is a bit of a proactive question, as I've just purchased my first property (in Ohio) where I'm handling the property management for a good tenant (remotely). One concern I have is the tenant turn over process and how best to handle the inspection (security deposit), cleaning, keys management, and potential showings for new tenants. If I can find a good property manager, I'd likely hand this over, but for now that's not the case. Is there such a thing as a rental property turn over company that can be leveraged (for a one-time fee), or do most people have local resources (agents, or similar) that help with this process?  

[Tom Parris]

Hi @Mark Hill,

What you're looking for does exist. You're really going to need a handy man and a realtor.

You can hire the realtor to procure the tenant, for a finder's fee. For reference, that fee will be around 1 month's rent. Included should be professional photos, marketing on all avenues, showing the property, they have an application, they present applicants to you for approval, they generate the lease, collect funds, and provide keys to the new tenant.

For turnover, I recommend have the realtor visit the property and create a condition report, which reports to you just that, but you want to know what needs to be done to the property to get up to rentable condition again. Typical repairs include: touch up paint, carpet cleaning, light bulb and filter changes etc. Tell them to check and see if everything works and drains like they're supposed to. Then give that list to a handy man to bid out the work and use that bid to make any claims on the security deposit. 

Depending on the language in your lease, you can start the condition report and marketing as soon as the tenant gives notice to vacate. 

Good luck!