Single Family Rental Turns
Maximizing Tenant Satisfaction
By Nickalene Badalamenti-Kalas
It is an established dynamic in the single-family rental (SFR) space that a satisfied tenant tends to be a long-term tenant. Conscientious investors and property managers recognize the importance of fostering tenant satisfaction and understand the essential difference between a house and a true home. The former necessitates administrative efforts, whereas the latter yields substantial and perpetuated financial returns.
There are a number of key criteria that support tenant satisfaction and long-term tenancy, and the critical juncture to addressing those criteria lies in the transition between occupants, a period averaging between three and five days. This brief interval involves many moving parts, making the tenant-turn process a multifaceted challenge.
Achieving success during a tenant turn is predicated on all stakeholders —investors, property managers, inspectors, field service professionals — understanding and conducting their interdependent roles quickly and effectively. An empty house will detract from a neighborhood, it’s a waste of resources, and an inadequately prepared home is a wasted opportunity. A field services partner with the necessary scope, resources, and expertise to execute quick, high-quality turns on time, on budget, and within rental requirement guidelines are essential.
Here are factors that make a difference in transforming a house into a true home, and that will help ensure your tenants’ satisfaction.
Inspection/Scope
The first step toward a swift and comprehensive tenant turn is a thorough inspection/scope. Proper execution within rental requirement guidelines demands training, oversight, and thorough, accurate documentation of the property’s condition.
Experienced field service professionals can deliver a fast, technology-enabled inspection/scope — fully documented with geo-tagged and time-stamped photos — that meets rental compliance certification requirements These detailed reports are essential to processing claims and initiating necessary cleaning, repairs, grounds keeping, and other necessary work.
The Satisfied Tenant
Tenant satisfaction hinges on maintenance, repair, and cosmetic considerations. Long-lasting tenants want a house they can move into easily and seamlessly and that they can turn into a home without encountering livability issues.
Factors influencing tenant satisfaction include the condition of interior walls, floors and working surfaces, exterior walls and roofs, windows, appliances, utilities, locks, alarms and other safety features, and the overall appearance and neatness of grounds, sidewalks and driveways. Doors, windows and attic insulation may require attention to maximize heat retention during winter months, and lower utility bills. Equally important to the tenant’s satisfaction is their relationship with property management and the prompt, professional resolution of maintenance and repair concerns.
When a tenant feels supported in their home, they will be much more likely to take a personal stake in the care and upkeep of the property.
The Quality Turn for the Happy Tenant
To ensure a SFR property is turned over to a new tenant in the best possible condition, the following key components must be addressed during the turnover process:
Appliance Audit
Your field service providers should conduct a thorough assessment of major appliances and functional “systems, including HVAC, furnace and water heater, oven, dishwasher, microwave and laundry appliances. Regular maintenance checks on HVAC and climate control systems are essential in extending system life and preventing costly repairs.
Plumbing
Another area where an ounce of prevention is worth a pound of cure is the plumbing system. Field service providers will examine the general health of the plumbing network, checking for existing and potential leaks, backflow hazards, and water heater efficiency. This is also the perfect opportunity to address overall system efficiency, with consideration for improvements such as low-flow toilets, high-efficiency faucets, or tankless water heaters.
Interior Cleaning
A thorough deep clean of the home is essential to attracting the committed, long-term tenant. When they assess their future home, it should be in as-new-as-possible condition. The process should include steam-cleaning of carpets and floors, replacing as needed, cleaning and/or painting of walls and ceilings, cleaning interior and exterior window surfaces, and clearing out HVAC and heater vents. Window treatments including blinds and curtains should be addressed, and woodwork including baseboards, wainscotting and stair rails should be cleaned.
This is also a good time to address air quality, with purifiers and ozone treatments, as necessary, to ensure an impression of overall quality and cleanliness upon entering the home.
Exterior Cleanup
When approaching the property, if the grass is tall or the entryway is dirty, a prospective tenant will be put on guard and begin looking for more things that are wrong. Your field service provider should enhance the curb appeal by attending to weeds, landscaping and trees, lawn maintenance, gutter cleaning, driveway and walkway appearance, and exterior walls and windows. In the latter cases, a power washing can do wonders for revealing the home’s native charm and curb appeal.
Property Improvements
The turn interval between tenants is also the ideal opportunity to make improvements and complete necessary rehabilitations where appropriate. Our field rehabilitation services are designed to improve efficiency and enhance visual appeal, such as kitchen and bath remodeling, landscaping, and irrigation system installations. Regarding efficiency, there are a range of upgrades available to lower tenant costs, including energy-efficient appliances, smart thermostats and locks. Consider upgrading to more efficient windows, door sealing and other insulation measures.
Upgrades such as home alarms, smoke alarms, radon and CO2 detectors, and security cameras can go a long way to giving tenants the impression of a safe and secure home.
A Lasting Investment
The goal of any SFR property is to attract and retain high-quality tenancy. These are the tenants who want to create and protect their home for the long term, and who will complement your investment in the home with their own. They are more likely to take responsibility for its care and maintenance, lowering overall costs and increasing returns.
Because the tenant-turn interval is brief and can include a wide range of activities, expert supervision and oversight are essential to executing a quick, quality turn. Your field services partner should be selected on their ability to manage the project within timelines, budgets, and rental requirement guidelines while ensuring a delighted tenant experience. This approach will yield dividends for years to come, creating a mutually beneficial relationship between property owners and tenants.
