There is good news for rental property owners and property managers. Vacancies for rental properties are running around 6%, which is approaching a record low. Increased demand and rising homeownership costs bring more people into the rental market. Analysts expect rents to increase by an average of 6.4% in 2023.
Whether you are getting a property ready to rent or getting a property ready for sale, the sooner you can handle the turn, the faster you can generate revenue and take advantage of market conditions.
A Turnkey Service for Rental Turns
Charter Construction Group provides one-stop shopping for rental turnover services. With long-term relationships with diverse suppliers and skilled labor in local markets nationwide, Charter Construction Group can quickly get properties market-ready while eliminating worries about finding and managing work crews or having to work with multiple vendors or suppliers.
When your rental properties are vacant, you still have ongoing costs. Besides the cost of the rental turn itself, you may have the expense of debt service on mortgages or loans. You may have administrative tasks, such as application processing, in addition to marketing costs, insurance, ongoing maintenance, cleaning costs, and lost income. So, you want your rental unit ready to go fast.
Rental Turnover Service
Charter Construction Group can handle every aspect of your rental turnover from start to finish, including:
- Thorough pre-market cleaning
- Hauling away trash and debris
- Routine maintenance and checklist items
- Checking for water or structural damage
- Repairing or replacing damaged items
- Cleaning or replacing carpeting or flooring
- Repairing or replacing appliances and fixtures
- Landscaping maintenance as needed
- Remediation for fire, water, mold, asbestos, or pest infestation
- Removal of any hazardous materials
Charter Construction Group provides an initial assessment and an itemized checklist of everything that needs to be done. You can quickly make decisions about what you need to do and any repairs, replacements, or remodeling work that needs to be done. Then, the Charter Construction Group team coordinates workers and manages rental turns to make your life easier, meet your deadlines, and stay within budget.
Charter Construction Group handles all of the coordination and keeps you up-to-date on progress with a real-time portal so you can track the work as it happens.
Rental Property Renovations
There is increasing competition in the rental market. More than 400,000 new apartment units are under construction — a 50-year high. There is also a significant increase in built-for-rent housing and communities. Your rental properties will be competing with brand-new units. Getting a property ready to rent may require you to match local conditions if you want to generate similar rents or maximize your selling price.
A good rule of thumb is to look at market comps, within the past six months, that are in similar neighborhoods and within about 15% to 20% of the same square footage. Try to view them through the eyes of a potential renter or buyer and consider how your property stacks up against market trends and price points.
If you need to do upgrades, Charter Construction Group can also handle all of your renovation needs. Residential remodeling services are customized to meet your needs for each property and can include:
- Bathroom remodels: Improve functionality and storage space and create a relaxing, modern environment without compromising the budget.
- Kitchen remodels: Upgrade kitchen space to make a striking appearance that potential tenants will love.
- Home additions: Increase property values by adding living space.
- Interior Renovations: Minor fix-ups to major renovations.
Charter Construction Group can evaluate properties for you and recommend upgrades that could generate the highest return on investment.
Trust Charter Construction Group
Because the team at Charter Construction Group has completed more than 40,000 rental turns and residential renovations, you can trust them to provide affordable high-quality work. Whether you need major renovation or minor repairs, maintenance, cleaning and a fresh coat of paint, Charter Construction Group can make it happen.
Because of our nationwide footprint, we can handle jobs across the country and do them at scale no matter how big or small.
Worry about your business and let Charter Construction Group worry about getting properties ready to rent or getting properties ready for sale. This lets you maximize your return without having to deal with the stress of rental property turns.
Want to make sure your rental units are market and move-in ready fast? Call Charter Construction Group today at 866-268-1632 or request a consultation online.