Minimize Tenant Vacancy
To minimize time between tenants, I try to work out deals with tenants that are moving
out of a rental property. Instead of losing a month for clean-up between two tenants,
which will cost me a month’s rent, I will try to work out a solution with a tenant who is
moving out so I can get a couple days at the end of the lease term to clean-up the property
before the new tenant moves in.
Normally, I will tell the tenant moving out that if they
move out a couple days early, I will give them 100% of their security deposit back (assuming
the property is in good shape) to them immediately upon giving me the keys and will also
pro-rate the rent so they’ll get money back for the days they are not in the rental property.
I have done this numerous times because I do not lose an entire month’s income on a rental
property, only a couple of day’s income. If I cannot entice the tenant moving out with an
offer, I will than go to the tenant moving in and try to work out a solution.
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