The Five-Part Process to Reducing Your OKC Make Ready to 13 days
Have you ever seen plate spinning?
A well-practiced plate spinner can spin 10 or more at the same time.
The more plates they have in the air at the same time, the more difficult it is to keep them all spinning.
Each plate begins to slow down.
At some point, they will fall off the stick unless you spin it some more.
The make readies an okc property management company handles are like spinning plates.
When they have a manageable number going, it’s no trouble to keep all the plates spinning.
But what happens when spring roles around, and you have a whole bunch of tenants moving?
That’s right, you have a whole bunch of make readies, all going at the same time.
Or, what happens when you start getting a backlog of make readies because the okc property management company can’t get them done quickly enough?
Same thing. You get too many plates and not enough hands.
And just like the acrobat spinning the plates, there is a maximum number that the okc property management company can handle at one time.
So what is the trick to keep all those plates spinning?
What is the trick to okc property management companies quickly completing make readies?
That’s the subject of this article.
It comes down to frustration over losing money.
There is nothing worse than watching a unit that should be making money sit vacant.
I remember not too long ago I had six of my own properties that had sat vacant an embarrassingly long time. They were all big projects, and so I kept putting them on the “back burner”.
I put a pencil to all the money I was loosing in rent because these properties were sitting vacant. It was something like $5,000 per month. That was definitely not OK.
An okc property management company needs to be quick on its feet because when units are vacant, they are costing the owner money. That means getting the make readies done in a hurry.
This article is about how we quickly get your OKC rental properties ready to rent. It’s about making money by quickly stopping the bleeding (vacancy).
When you are going to have turn over with your property, job 1 is to get the keys back as soon as possible. Job 2 is quickly getting the make ready done.
Here is the problem: You can’t effectively advertise and show the unit while it’s a mess. When the unit looks trashy, it attracts trashy tenants.
The first question you should be asking is how quick is quick? For my property management company, quick means an average of 13 days to complete a make ready over the last 50 days (we completed 15 total).
Notice that I know my numbers. It’s very important that you measure this type of thing and track it. It’s a critical part of how we’ve been able to reduce vacancy.
How our OKC Property Management Company reduces make ready times
#1. Complete the Walk Through
As soon as we get keys back from a tenant who moved out, the okc property management company should walk through the unit to assess the damages and put together a scope of work for the make ready technician or contractor.
The scope of work needs to be very detailed. In addition, it’s nice to have a checklist for all the numerous items that don’t want to have to list out like replacing a burnt out bulb in the bedroom.
#2. Make a Plan.
Our first decision is whether to have one of our technicians do the make ready, or to assign it to a contractor.
Our rule of thumb is that if it can be done in roughly one day or less, we’ll have one of our in-house people do the job.
If it is a bigger job requiring extensive work, an outside contractor will be called in. For example, if we have to completely repaint the interior, or install new flooring.
The advantage is they can complete the job more quickly, and at a fixed price.
It’s all about holding costs down. An okc property management is there for one reason: get the job done (so you don’t have to) at a reasonable cost.
When we assign the make ready to one of our technicians, we let them know how many hours they have to complete the work. That is important because so many time when people work by the hour they milk the job.
In fact, if it looks like they are going to go over the hours we let them know are available for the job, they know that they have to sit down in my office along with our maintenance coordinator. They have to look me in the eye and explain why it’s going to take additional time. Trust me, they don’t like having to do that.
We quickly let our clients know how much the make ready will cost. If needed, I’ll collect payment.
The last thing we need to do is hold up the project because we don’t have the money to do the work.
That also goes for my projects as well. I’ve learned that when I have a project that needs money to complete, the sooner the better. I don’t wait one moment longer than I need to.
#3. Assign the work.
The project is assigned the same day as the walk-through is completed.
The sooner you have someone who is responsible for getting the work done, the sooner it will get done.
This assumes that you have someone you can assign it to. That means have back ups to your back ups.
It’s said that one is a terrible number in business. Never have just one handyman or one contractor to do you make readies. If you are having contractors do your make ready, you should have more than two to call on. Even as a landlord with just a few properties, if you don’t have at least 3 or 4 good contractors you can call, you could be out of luck.
An okc property management company should have five to ten good contractors on top of the make ready ready technicians on staff. In addition, they should have specialists like tree trimmers, brick layers, plumbers, electricians, concrete layers, flooring companies, pest extermination companies, etc. They should always know who to call in a pinch.
The contractor or technician needs to be absolutely clear on the scope of work. It’s best if you meet with them at the property rather than just hand them a punch list.
If you are using a make ready technician and paying them by the hour, again, be absolutely certain to let them know how many hours they have to finish the job. If you don’t, I guarantee they will milk the clock.
#4. Get it going.
The technician or contractor starts the make ready as soon as possible. They complete the scope of work, as well as make ready checklist.
When you have that conversation with them about getting started on the job, get a firm commitment on when it is they think they can start. Make a record of that. Obviously, if it’s too far out, let them know you’ll need to find someone else.
What I learned from the six big projects that I had is that I could work on all of them at once.
It was actually better that way.
I lined up different contractors for each. In the process of doing that, I found several different contractors. Once you find a contractor who does excellent work whom you can work with, you can use them indefinitely.
#5. Move on to the finishing touches.
As soon as the make ready technician is completed, the carpet cleaner and/or the house cleaner do their work. They should be calling these people 3 to 7 days in advance so they are ready to start the day the contractors are finished with their work.
But don’t have the place cleaned up until the contractors are done with their work. Trust me, the house cleaner will have to go back if the contractor is finished; they always manage to make a mess.
If you would like us to find out what it would cost for us to do the make ready and lease the property for you, give us a call. Or, Click here for more information about finding an OKC property management company.