Managing a move-out is a complex, time-sensitive process. At Reeder Asset Management, we want to ensure that you, as a property owner, understand the timeline and its implications for a seamless transition. Our owner, Cody Reeder, recently detailed the anatomy of a move-out, outlining the critical steps involved.
Here’s what you need to know:
Meeting Legal Obligations: We have 30 calendar days to either return the tenant’s deposit or provide an accounting of any deductions. Failing to do this in the allotted time may lead to penalties, including fines and potential legal costs.
The Pre-Inspection Phase: Generally, we are aware 30 days in advance when a tenant plans to move out. However, we can only perform the move-out inspection after the tenant has fully vacated the property.
1. Thorough Move-Out Inspection: Our team conducts an in-depth inspection, capturing photos, videos, and notes. Depending on the property size, this usually happens within the first week of the subsequent month after the tenant moves out.
2. Determine Accountability: After completing the inspection, we determine which damages are the responsibility of the owner (wear and tear) and which are on the tenant (tenant damages). This involves a meticulous comparison between the move-in and move-out inspections.
3. Work Estimates from Vendors: The next step is sending the separated responsibilities to Service Depot for cost estimations. The turnaround time can vary depending on their workload.
4. Owner Approvals and Correspondence: We urge owners to quickly approve the estimates for wear and tear repairs to avoid delays. Extended approval times or excessive back-and-forths can significantly stretch the timeline.
5. Scheduling and Conducting Repairs: The duration for repairs can vary widely, depending on the extent of damage. These can range from a single day to over a week. Cleaning and carpet cleaning are scheduled immediately after the repairs.
The Single Vendor Advantage
While we are open to working with other vendors, experience shows that using a comprehensive service like Service Depot minimizes miscommunication, schedule clashes, and generally speeds up the process.
Expected Move-Out Timelines:
- Best case scenario: 13 to 15 business days (about 3 calendar weeks)
- Average: 16 to 22 business days (around 3 to 4 calendar weeks)
- Worst case scenario: Over 30 business days
The key takeaway is the importance of timely actions. As we approach the 30-day mark, options become increasingly limited, potentially leading to financial penalties. Our goal is to prepare the property for the next tenant as efficiently as possible, which benefits both the owner and the incoming tenant.
If you have any questions or need further clarification, feel free to reach out to us at Reeder Asset Management. Thank you for entrusting us with your property management needs.