Your turn budget breaks down into 3 main categories intended to ensure your home is legally on market and will rent at the highest possible rate in the least amount of time.
As soon as your home is confirmed vacant, utilities are on, and we have access to enter your home, we will conduct a thorough scope inspection. During this inspection we will test all of your appliances, electrical, plumbing, and review each room in your home to identify the following:
- Habitability issues -- These are required work items that need to be resolved to make your home legally rentable. You can learn more about them here.
- High yield repairs -- These are optional work items that will both get your property rented at or near market rent in the least amount of time and help you lower your monthly maintenance and repair expenses over the rental lifecycle. You can learn more about why we make these recommendations here.
- Vacancy expenses -- These are expenses accrued while your home is vacant, including utilities, HOA payments, any landscaping, pool maintenance, or other recurring maintenance expenses. Once we find a resident for your home, many of these expenses will typically be passed on to your resident if you so choose. You can learn more about vacancy expenses here.
Some work items from the habitability issues or recommended, high yield repairs may be found to have been Resident-caused damages, in which case, these work items would be funded by your prior Resident's security deposit.
Once these work items are identified, we reach out to our network of licensed and
insured vendors to get the best rates on each item and repair for you. Great Jones never makes money on maintenance or repairs, so we pass all of the savings we get from our scale directly onto you.
Your turn budget is then delivered to you with secured rates and a photos of the issues we identified while reviewing your home. Upon your approval and funding, your home will be well on its way to property marketing and leasing.
Click here to learn more about our turn funding options.