The Landlord's Almanac - Landlord Conversations

Small Details in A Turnover Matters

February 19, 2020 Kassandra Taggart / Kurtis Taggart Season 2 Episode 18
The Landlord's Almanac - Landlord Conversations
Small Details in A Turnover Matters
Show Notes

Quote From the book: Pain or Profit “Big problems are avoided in life and your rentals, when you pay attention to small details”
Today let’s talk about when doing a turnover, what small steps can be done to avoid larger headaches later. This is key to being able to self-manage a rental property while working a busy day job.
Feb 19, 2020
Kassandra Taggart
Kurtis Taggart
The Landlord's Almanac
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Show Notes:

Kurtis just had a tenant up and left the property and tells the story about them leaving.

How did you start prioritizing the turnover process?

Have a plan of what I’m willing to do based on upgrades accordingly to the budget before walking into the property.

The landlords that decline every work order or use cheap shady vendors, the tenant tends to always move out.

Mismatch, specialized parts get replaced all the way to be able to turn off the water when needed.

Problems that happen when you can’t turn off the water.

What type of flooring do you use in your rentals and how does it help with turnovers?

Timing of when a tenant vacates can impact being back on the market when the majority of tenants are shopping.

Paint the whole wall rather than doing touch-ups.

Dark paint is difficult to manage.

The kitchen you did repairs, bathrooms you did a cabinet replacement, what were your intentions of this?

Saw yellow stain and determined it was a toilet leak. Due to the set up around the area, helped find the leak before it damaged the sheetrock.

How long does it take to get a property turned over and re-rented?

Out of all the years, in 2020 it was the hardest.

Do you outsource in to do all the repairs yourself? How do you decide this?

As I get older, it isn’t as fun to do it all myself.  

Knowing the prices, help me know when I should outsource it.

Got to find a balance with time and determine how much you are worth.

Balance what you are capable of and have training for and know how long it takes to get something done.

Using a warranty to help get work done correctly the first time.

Discussion on when to hire a professional vs doing it yourself.

Kurtis tells a story about a repair vs replacing with an AC unit.

Kurtis tells another story about a garage door repairs and a tenant inappropriately using the garage door.

Kassandra talks about the yearly budget of maintenance to determine repair vs replace.

Kurtis then talks about having reserves and not using the income as a paycheck today because rentals are for a paycheck in the future.

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