How to Save Money During Tenant Turnover

There’s no doubt that tenant turnover is a pain when you own rental properties because of the apparent reason that you’re going to have to cover the mortgage and expenses until you procure another tenant.

The good news is that it’s possible to save money during a tenant turnover if you follow these tips.

Change Every Light Bulb in Your Rental Property to An LED Bulb

Even though changing the light bulbs in your rental property may seem like a small thing, the reality is that changing light bulbs from traditional bulbs to LED bulbs can save you money on electricity costs while your property is vacant.

Besides saving money now, LED light bulbs will save you the hassle of having to change out old bulbs later because the average LED bulb can last for up to 25,000 hours (or more). This means that you won’t have to worry about your tenant potentially trying to change light bulbs themselves, and it will ensure that when a bulb burns out, you will be able to plan for having it replaced by maintenance professional.

Invest in A Master Key System

You may be used to changing locks every time a tenant moves out, but the reality is that that can be expensive over the years and a hassle. This is why you should invest in the master key system because with this system, there’s only one key, and it’s accessible to re-key locks if your next tenant loses their key.

Choose One Color and One Type of Paint

Instead of painting accent walls, or rooms in different colors, you should choose one type of paint for your rental property. This is a smart move to make because it’s going to save you time repainting the property after your tenant moves out and you won’t have to spend more money getting a specific brand of paint.

Ditch the Carpet

It’s true that most people like carpeting, but as a landlord carpeting, can be expensive since it can be costly to replace. The solution to this problem is to choose high-quality vinyl flooring or tile flooring because both types of flooring are mixed together; you will have flooring in your property that’s going to last for years to come.

Contact GoldenWest Management

To learn more tips for how you can save money during tenant turnover, or speak with us about our property management services, contact us today by calling (866) 545-5303 or connect with us online.